May 05 2008
Today’s Trading Look-Back – May 5, 2008
Today wasn’t much to talk about. Value slid lower, which was to be expected after the moves late last week. I’ve plotted on the chart lines for Thursday’s 1406 point of control and Friday’s at 1412. Notice how the market spent most of the day right between them.
The rally higher was always going to be something to fade, which is what I told my subscribers this morning. There was the chance for a go with trade to develop later on when 1406 was broken, but the sellers just coul
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