Daily SPX still hasn't turned down, but can do so with any negative close more than approx 10 points
This could be a bear trap with SPX rallying to test recent highs or even as high as 1400.
Bulls appear to be trapped as GRAINS plummeted. I am closing by short BEANS trade, see here:
http://www.traders-t...?...=140941&hl=
But, I am holding the Wheat spread for a bit longer.
SPX DAILY
SPX Bear Trap? GRAINS Bull Trap?
Started by
dTraderB
, Jul 23 2012 04:52 PM
1 reply to this topic
#2
slupert
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- Traders-Talk User
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Posted 23 July 2012 - 07:11 PM
Daily SPX still hasn't turned down, but can do so with any negative close more than approx 10 points
This could be a bear trap with SPX rallying to test recent highs or even as high as 1400.
Bulls appear to be trapped as GRAINS plummeted. I am closing by short BEANS trade, see here:
http://www.traders-t...?...=140941&hl=
But, I am holding the Wheat spread for a bit longer.
SPX DAILY
quite a candle On the trin, not many sellers on the gap down,Wouldn't be too hard
to start a quick short fry, http://stockcharts.com/h-sc/ui?s=$TRI...id=p49273336271
