5/19 BULL STILL IN CHARGE 5/24/12
BOT TRADING SYSTEM
YES. The bull continued to play the ranges again in overnight and in the US market. The BOTs were unchanged, with focus given to range runs in the BO5-10 areas and pullback support checks to the Long BOT.
We saw this in the after hours yesterday, and was discussed with traders in the Euro Zone.
BIGGER PICTURE
The two day look at PA trading with the BOT levels. Each support PB allowed for another run long.
BIG PICTURE
The Euro Zone today had a nice PB check that found support at the Mid BOT before returning to the BO10 level.
By the US Open, we
were shorting the BO10 PB to the BO5 level, followed by another 5-10
range run for a local double top and a PB to the LB by mid day.
PA had an extended
stay at the support and finally gave the bulls another run to the BO10
followed by a BO15 effort in after hours.
New levels will be calculated for the US Open tomorrow.
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