
Trade Stands up To a Busy News Day - Holding Above 1203 Support
Wednesday, 02. November 2005
Yesterdays 1207.25 long entry made a high of 1210.50 before getting knocked back down. For all the news: FOMC, autos, mfg index, etc.... Not much happened. It is critical that support holds above 1200 and 1215 breaks. There is significant volatility in this area so a reverse will be considered if 1200 does not hold. Stops should be confirmed at 1199.75, although a dip below 1203 would signify trouble and a exit could be considered. Volume was off last session, consistent with lack of any real movement in the market. Slow news day this session but tomorrows session is quite busy, increasing chance for significant movement.


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