Monday, February 7, 2011

Breakout Monday

Market broke out above consolidation range on Monday with end of day pullback down. Depending on the opening price, for Tuesday I will be looking for either a morning pullback down to test break out level at 2230-2335 or re-test of Monday swing high.

I will use FT Pivot Level 2347.25 as Key Line-in-the-Sand for bullish-bearish bias