Wednesday, September 24, 2008
A balanced day so far. No sign of upward rotation as the big contracts are net negative and the general market is neutral. Good trading oppurtunity in the K period on the weakness of the test of the I period high. Having seen the late afternoon liquidations so far and the distribution yesterday, which was an multitimeframe liquidation as evident in the distribution, one should be poised in the direction of todays balance. The market is probably not going to commit until the bailout is clear. The direction from this distribution today may set the direction. You want to in that direction.