Monday, October 22, 2007
Futures - Doldrums Thought
Futures making nice upward headway during the doldrums. Overhead resistance is at 13672, which is the 50% retracement line for the big move down. Also 13675 is the 200 ema on the 15 minute chart. Given that this move happened during the doldrums and we have two different time periods with overhead resistance in essentially the same location, I will be looking to short at these levels if my signals line up. I will test the zone with 1/3rd position given my rules allow for the fade of the 50-61.8% zone.
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