We are consolidating the gains with a trading range here. The range is forming around 1215 to 1175. I would be a buyer in the lower end of the range and a seller near the top end of the range. That would put us slightly below the middle based on the current futures. I don't see a big selloff quite yet or another rally to new highs. Traders should get ready for range based trading in May. That is how I'm going to play this month.
Tuesday, May 4, 2010
Trading Range Forming
We are consolidating the gains with a trading range here. The range is forming around 1215 to 1175. I would be a buyer in the lower end of the range and a seller near the top end of the range. That would put us slightly below the middle based on the current futures. I don't see a big selloff quite yet or another rally to new highs. Traders should get ready for range based trading in May. That is how I'm going to play this month.
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2 comments:
The trading range is too obvious. Everybody knows that the dips should be bought. I think we break down. Maybe not today but I think we break down by the end of the week.
like I said last Friday...........
Anonymous Anonymous said...
If you won't say it i will, it's pretty much over.
It stands out on a chart, we are broken.
Once we take out 1169 I don't see any support until 1094...then 1056.
4/30/2010 11:36:00 PM
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