Tuesday, October 27, 2009

Another Small Gap in the S&P 500 Below 1060

A reader pointed out a small gap I somehow missed in the S&P 500 just below 1060.  Now that the 20 day moving average has been breached, this is very enticing - a nice trade set up.  Short to fill that gap, with a stop out if we break back north over the 20 day moving average which is in the low S&P 1070s.  In very early trading we've rallied right into resistance...a great risk/reward entry.

I've done just that.  Thanks for the heads up "semuren".

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