Emini Trading Update – Monday 24 Feb 2014 (9:52)
OK, so the Emini broke to the upside. But give me a day’s grace. Today was not as strong as it looked – almost a “U-turn” by the end of the day.
And now the lines in the sand are a lot tighter. The Bulls have to get this thing through today’s High (1,856) tomorrow. If they can’t and we drop through today’s Low (1,836) then we’re back in the congestion zone. And then we’re going to test the Lows of that zone.
And today did not end up being a classic range day – where we close on the extremes. Normally the Tom Cruise (Days of Thunder) strategy works on range days – and that’s why I was taking 2 Long trades at the end of the day. Neither worked and so I reversed Short.
Good luck with your Emini trading tomorrow.