SPDR S&P 500 (SPY): ES was just at 1083.25 and rejected......

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Re: 2bit-nothing post# 103529

Friday, 05/21/2010 2:10:10 PM

Friday, May 21, 2010 2:10:10 PM

ES was just at 1083.25 and rejected...

So to make a call, short right there and 1083.25 is your stoploss.

Eventually, we will come away from ES 1083.25. Being on the right side seems simple, right? Try it. This is an algo pointing out that target, not me. Quite obviously, the market is attracted to 1083.25. It's a very important target.

ES is now at 1079.25.

The trade is profitable and the stoploss is set.

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