Emini Trading Update – Monday 3 Jun 2013 (9:27)
What a day – fast and jumpy. The early pushes up were just Short covering rallies and felt like they were engineered so the Professionals could get in at better levels. And then we were off, a break of Support on the 500 and 1,500 tick charts leading to a strong downtrend, exhaustion selling and the Pros showing up again.
Now we’ve got a line in the sand at 1,620 to 1,625. A break below that would take us into a nice strong downtrend. I’ll be looking for that over the next couple of days. We’ll see.
Quote of the day …
From Miles K. on Friday
“I’ve been learning patience and discipline over time and learning what the e-mini moves like with your indicators. This morning was perfect. The pro-am set up on the first exhaustion momentum move, then the test back up by the amateurs with bearish divergence. I entered short on the failure of that test for a quick OSOK. Love it! A big thanks to your continued efforts as you share your learning and interest in the markets.”
Good luck with your Emini trading.