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Time for a Selloff?

Monday, 19 September 2011 06:39

The gyrations in the current market environment are incredible from day to day and week to week. For traders like myself this presents some excellent opportunity to take advantage of strong trends albeit in both directions.

After having a 20% selloff followed by a 10% rally the market could be staring in the face of a lower high and a move back to test the lows from six sessions ago. The pivots have been working very well so know the levels of importance, 1178 on the ESZ1 (S&P December Contract) is important support today. European soveriegn debt is still a problem and Obama is going to put a bandaid on a broken leg with his deficit reduction plan today.