Tuesday, September 21, 2010

Daily Trading Plan - Sept. 21

Futures move to being slightly positive thanks to housing data.

Any close above the 1130 on SP500 would confirm the inverted head and shoulders.  Now that we are trading out of the normal range SP500 has a lot of room to move up to the April highs without much in the way.

My portfolio still remains majority long with a vertical call spread acting as my short.  Will be watching my spread closly as it could get taken out.

FOMC annoucement will be the key today.

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