Written by: Trader 2/17/2009 5:49 PM
Ok, so once again, we have what looks like a breakout from a coil. Therefore, we have to go with the flow and short any bounce. Stops should be at Tuesday's high. The chart below shows the S&P cash market with the converging trendlines and the breakdown bar. The second chart shows the same picture for the March S&P e-mini contract.
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