Wednesday, August 11, 2010

8/11 pre-open

Yesterday's rally was an ABC bringing market back to Friday's low.  There is a breakdown from the diagonal, but the short trigger is the 5-minute, 380-minute M/A -1.35%.  For the futures this is 10,435. 
I got stopped out of my futures long at 10,507.  Through Thursday because of the rising I1 I need to buy the dips.  We are at Friday's low so I am using the DJ futures 10-minute M/A +11 points as a stop buy.  Currently at 10,499 I have a buy-stop in a 10,510.  Green line on chart:

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