S&P 500 Emini Day Trading Gap Monday April 12, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2180" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Monday April 12, 2010"][/caption] S&P Emini 500 Futures continued it's inexorable march to the 1200 level on Friday.  The low volume up trend is beginning to worry analysts.  A local newspaper article from a national source quoted a well known market analyst who is wary of the lofty highs the market is attaining, since volume is low.  Friday scored a new high on well under average volume.  The emini's may continue to the 1200 level, but it certainly is time to insure the downside of any longer term portfolio.   Day traders, however, will continue to do our thing, trade the signals, and be in cash every evening.

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EUR/USD OK everyone... If you don't believe in market manipulation then you wern't here for the past 1/2 hour. I personally am outraged at what just happened. Personally I was in a hedge but it still took 30 pips from my days trading. I was fortunate to get back in and then a sudden drop and I got 10/15 back but not by good management but by luck. I don't trade luck, I would rather stand aside and wait for a good signal which I thought I did and then wham-o a sudden drop. I was in the right direction but this isn't trading this is a crap shoot and I will stand aside until some reasonable trading happens. [caption id="attachment_781" align="alignnone" width="300" caption="FXDMG"][/caption] Above chart is a 30 min chart. I am standing aside until I see the market being traded. By the way... the excuse for the spike was positive news on Greece. Male Bovine if you ask me. Still ticked off. FXDMG

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EUR/USD [caption id="attachment_774" align="alignnone" width="300" caption="FXDMG"][/caption] Greetings Traders... I thought I would show you a different way of looking at our 5 minute chart. On the left you see the chart that I normally post and on the left you see the same 5 minute chart with Heikin Ashi candles instead of regular candle sticks. New York open in less than a hour. We'll see how the weekend will shape up. If we see a slow finish to the week, we should see a good start to next week, and vise verse. Hope you got in early today as the market had legs, and a nice retrace. Keep your eye on the 5 minute chart. FXDMG

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