Mar 12 2008
Today’s Trading Look-Back – March 12, 2008
Today’s most important levels ended up being 1325, which had seen price failures twice in the last couple of weeks, 1334, the point of control from last Wednesday, and 1316, the point of control from last Thursday. No other ended up really mattering.
A short on the open, which was right at the 1325 level presented a nice down trade opportunity, but only if you got out and flipped around to long at 1316. That trade would have produced nearly 20 points in riding the market up to the 1334 level, from which thing proceeded to collapse through the close.
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