Boomerang Trader

Tuesdays action shows topping pattern

Posted on 28. Jul, 2010 by Johnnyr in Daily Recap

Good morning and thank you for joining us today.

Tuesday’s trading action according to Mohan’s “Daily Directional Forecast” showed topping action with his call to look for resistance under 1119.25.

The Highs came in at 1118.00 on a 1116.50 opening  on the NYSE time.  Prices pulled back substantially from that high and Boomerang Scalp Trader caught the action as always.

Boomerang Scalp Trader’s internal algorithms and select coded moving averages trade the way the market trades. You can simply follow the color matches on the Boomerang Bias Bars, Force Index and our new Trade Bias Selector which gives a slower confirm reading for your trades.

Match up the faster Boomerang Force Index with the patterns on the Trade Bias Selector and you have the best confirmation indicators for scalping the Emini S&P500. Now get on with your trading career, make some money, pay those bills and give some to charity too if you can. The whole world needs help right now and it’s up to all of us to work together.

These markets are tricky right now and special interests are controlling everything. Still fortunately there are solid trading approaches you can use if you chose to be a career trader and serious about research and hard work. If you want to try and “wing it” you will lose all your money in trading. Don’t say Johnny didn’t warn you.

Here’s the charts for Tuesday with my comments and some great advice from the Daily Directional Forecast.

Tags: day trading, e-mini, emini, indicator, S&P 500, scalping