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S&P 500 Futures Price Channel Of Death Has Few Survivors

Wednesday, 05. April 2006
2/23/06 $25,000 - Current $27,162


The last 10 sessions or so on the S&P 500 Futures Charts show a rectangular pattern or sideways price action. The market is oscilllating from one extreme of the range to the other (1305 - 1315).  What makes it more deceptive is that a new swing high or swing low can be made right before the reversal offering a fake out to all the longs or shorts. We never entered because of lack of "confirmation" but market did look rather convincing at times. As previously posted, patience through this period should pay handsome profits so we will continue to let the market resolve itself and enter on a setup. Trading for the sake of trading will reduce your account size so don't do it......


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