This was a momentum market this morning and simply picture perfect from beginning to end. The Russell opened higher than yesterday's close but failed to take out the 780.00 resistance area. The market then moved to below the low of yesterday and followed that up by making another attempt to reach 780.00.
First trade of the morning was a short reversal at 6:45 at 777.9 for +4.9. Second trade of the morning was a long reversal at 7:10 at 772.6 for +4.0. You don't get much better than that.
Net for the morning: +8.9
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Wednesday, March 14, 2007
Posted by Lord Tedders at 8:25 AM