Thursday, August 2, 2012

ES - 2 August, 2012 pre-ECB set-up

In keeping with the larger short bias portrayed in the Week-end review (23-27 July, 2012), I would initiate short positions, should the market reach the following levels:
 - 1384.75; and
 - 1386.5.

The shorts would be invalidated upon the Dow Jones Industrial Average ($DJI) breaching and staying above 13128.64 (Monday top), during cash trading hours.

On the flip side, I would split a long entry between 1363-1364, for a 3-5pts target.

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