MARKET GOES WHERE "LIKELY" SUGGESTS 7/30/12

BOT TRADING SYSTEM

 The market was in a range run going into the US Open,  A narrow range.  B1 was an extended bull at the start.  Other markets were showing weakness, and a continuation was suspect.  The PB allowed better entries near the Long BOT, with  EMA buyers liking 1380-80.5, and BOT players at 1381.5-1382.25 the 50CB levels for B1 and B2.  Either way, the target was the BO5.

It would be nice to say we have a good read on the market and where it is going.  OK , it has been said.  But since this is educational only, you will see "likely".  Likely has been very good, and was good today.

The BO5 was considered a watch as bulls were having difficulty:

[09:40] <CM> tight range at open gut they will bring it 

[09:53] <CM> bot 101 if a range bo fails/stalls look for run to opposite ..     DID

[09:58] <CM> 84.5 target 1      HIT
[09:58] <CM> lbbo5
[10:02] <CM> you got ema long  the 50cb range was slightly higher 

[10:02] <CM> both should get the 84.5      DID

[12:25] <CM> reversal back to range per am suggestion      DID

[12:29] <CM> now time for lunch expecting range bound if sb holds likely new test of b1-b2 50cb area       DID
[12:30] <CM> essentially from pre open to current a H&S pattern

[13:38] <CM> t1 sellers ouch
[13:39] <CM> stp to 79.5
[13:40] <CM> sometimes pa just wants to be difficult..
[13:43] <CM> out and now going to lunch  play safe in the street..
[13:45] <CM> sellers were stronger at T1  likely test sb  77.25 and possible bo this time..

HIT THE SB.