One trader's personal insights and thoughts about trading the markets through market structure, logic and intuition.
Wednesday, August 10, 2011
Looks like the bottom is in......
Waiting for a daily close higher now and we should head towards 1200-1220 as the first target with the second at 1240-1250. Don't think the FOMC statement does all that much other than tell us all what we were thinking anyways ie that very low interest rates are going to be here for a while". It will be telling to see how strong the bounce is as if it fails within a few days then a retest of the lows would be imminent.
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