Chart courtesy of AMP Trading, get a free demo account and paper trade.

detailed ES Emini day trading chart ESZ9 for Nov 23, 2009

Well, the market started out with a great up move and then sort of unwound for the rest of the day.  Notice that I put the Fibonacci replacements in the chart and the market found support at the 61.8% level and then hovered above and below that level for quite some time.

It was not an exciting day to trade, though I had to fight impulses as the market faded of the highs to stay and in the trade and let it ride.  Not an easy thing for a devout scalper, but I managed to stick by my guns.  The volume, as it has been for quite a while, was not overly impressive which, in my mind, doesn’t point to a terribly robust market.  We shall see.