Mar 10 2008

Today’s Trading Look-Back - March 10, 2008

Published by John at 6:10 pm under Trading After-Action

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Today ended up being a pretty straightforward session. The key levels of note were the 1294/95 point of control areas, the 1288 level below which prices had been rejected on Friday, and the 1272 level below which the final rejected low was created on January 23rd. 

 S&P 500 Futures Price Distribution Chart for March 10, 2008

The market actually started the day right around that 1294/95 zone, then traded lower, providing a decent buying opportunity at 1288. You had to be in and out pretty quick, though, as the market traded right back up to 1294/95, then failed. Ideally you would have covered your long and reversed at that point. The market later did provide a nice entry on the bounce back up to 1288 before heading down into the area of the 1272 level.


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