Emini Podcast / The Daily Futures 10/18/11
(QQQQ)(DIA)(SPY)(GLD)(SLV)
European Bailout news rocked the markets higher this afternoon. However, the exuberance which blew up the hourly chart for exactly ONE hour, seems to have subsided on the Globex session. At the height of the announcement rally we failed to take out the high put in early Monday morning when London opened. There will be a Tweet immediately following this post looking for a decline into tomorrow.
People often ask, "Can you use the Weekly Trading Zones to trade European Bail-Outs?" OK, maybe they don't. I couldn't resist. A valid question however might be this, "Can Weekly Trading Zones be used to frame up news related events?" The answer there is a solid YES! No foolin'.
Today's News Event was a Prime Example
It doesn't matter how many times I tell you or show you.
The only way to truly embrace the power of the Zone...
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