The market has shot up to extraordinary levels in recent months on news that…ah…ermm…earnings are down. Huh? It’s true, the economy as whole has stopped the free fall we experienced early in the current year, and we have had a steady stream of “it’s not as bad as it could have been” kind of economic reports. But this news is hardly the stuff of “green shoots” some economists have portrayed.
| ESU9 For 08/04/2009  |
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| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESU9 | 1007.33 | 1013.92 | 994.67 | 988.08 | 975.42 | |
Todays Economic Announcements
![[Report]](http://mam.econoday.com/images/mam/byreport_butt_new.gif)
7:45 AM ET![[Star]](http://mam.econoday.com/images/mam/star.gif)
8:30 AM ET8:55 AM ET![[djStar]](http://mam.econoday.com/images/mam/djstar.gif)
10:00 AM ET1:00 PM ETthe price action had been hovering around the SMA for quite some time. I like the trade.I suggest not taking countertrend trades when the price action is significantly below the SMA. Especially if the SMA is showing a clear trend, which isn’t the case today.
I thought I would talk a bit about trade entry today and how divergent indications on some of the oscillators I use indicates the need for caution. Emini trading is a process of choosing the highest percentage trades, and conversely, avoiding the lowest percentage trades. The ultimate goal of any trading system is to maximize the binary result of any trade, and I think that is an important point to remember. Trading is really just a matter of entering when your chances are best for a strong trade.
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