The SP-500 moved on up to the upper band at 1480 later in the afternoon, shorted it there for a 6 point scalp. Still expecting the index to drop to the 1462 area for a long position scalp. Note the 60 minute is rapidly getting oversold while the 120 minute just has a minor tailing down decline? Odds are this dip is just a short term dip and we will only see the 60 minute get oversold then move on up to the 1500 areas no later than 9-17-07.
2 comments:
Larry: are using Dec contract or continuous on your targets?
Thursday we switched to DEC futures.
Larry
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