Tuesday, May 24, 2011

E-mini Acting as Expected

Tonight the E-mini is acting as expected. During the past hour it continued lower and RSI became more oversold on the 4-hour chart. MACD hasn't turned positive yet. Tomorrow will be a very interesting day and I might go long tomorrow and buy some shares of SPY. I believe we will revisit yesterday's lows and probably go lower. Even if we continue lower, I feel comfortable entering a long position tomorrow, I feel risk/reward, this won't be a bad trade.

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