Wednesday, January 6, 2010

Morning Volume

NYSE  (-6%)

NASDAQ (-11%)

Volume down from yesterday.  We were tracking longs on both the NQ and TF and both have made moves up without giving us a system entry.  This market is tough and we don't want to chase.  The markets makers are just waiting for traders to pile in to rip it back so we are going to stay paitient.

We are tracking a long setup in Nat Gas (QG).  5m chart is tracing out a triangle so keep this on your radar.