alleytrader

es, spy, day trading for Aug 21st

FX:SPX500   S&P 500 Index
Market is very happy making whippy action between the top and bottom of the consolidation. and will remain doing this until either 2890 or 2942 is taken out. Over night we once again have a very strong gaping move. This can bring us two trade opportunities, 1) a retrace down to the 2917 area for a nice long, or a rip move higher that could see a 20 point jump in the markets. Will be watching to see when to get on. As of this typing the market bounced again moving the retrace level up to 2923.
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