July 23, '04. Tape reading is in the charts...


After yesterday's midday reversal, there was much anticipation for a follow through today. Thus, a gap down opening was seen as a favorable buy opportunity for many traders. But ValhallaFutures saw three elements that signalled the gap would not close with an initial rally. The third signal was also a setup to sell short. This signal was good for 4 pts in the ES, 10 in the NQ, and 50 in the YM (mini-Dow). Learn to identify these signals right at the moment they occur, in the training course from ValhallaFutures called Pivots, Patterns and Self Recognition.