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S.P. mini's: Bad chess players

 9/3/09

11:31EST

ESU9: Today we’re doing the same thing we did yesterday, but on a larger scale.  Yesterday we developed a Complex running C/T on a smaller scale (90 minute chart)

Today we’re doing exactly the same thing but on the 240 chart.

We’re still pointing up to 1025.25 to 1027.25

Key-note:

Large traders shorted very heavy in the 1001.00 to 999.00 price level.

Currently they are aggressively protecting their investment.

I believe their strategy is a mistake. They traded much much too aggressive at such low levels.

The close is up, and it’s probably a huge move up.

Until then expect sideways price action.