Tuesday, May 24, 2011

Russell 2000 Index (TF) Intraday 5/24 1:10 PM CST

After a night session that saw most equity futures positive, and then most going in the red during the US session, they have been slowly retreating back to yesterdays settle. If you are a believer in these continuing down with no large daily retrace, it seems this would be as good an opportunity as ever to get in. The russell 2000 future is about to hit the bottom level (@811.8) of the most recent down move's retracement, which coincides with the support from yesterday. This area might be what needs to be broken if we are to see a delay in what I feel is an eventual move lower, and I think its a good spot to take a small shot in case these take off overnight.

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