25/05/10

Hour and a half before the session finish opened long position cause folowing isuues were calling for the bulls continues superiority:
1) $add unlike ES have posted higher high w/ very strong surge;
2) materals - 2nd strongest sector - made higher high and industrials - 2md weakest sector - was at the bring of the higher high.
But, should note, that internals were against the trade w/ $add minus 2.5k while SP500 was losing only 1.8%.

The market have continued to rise like I have expected. Still, there were lots of times, when it seemed like ES have posted its interim high and will start to shrink. Nevertheless, as a result, that trade was the longest since 26th april, and its duration is near 50 minutes.

One of the leading factors that was calling for the market rise continuation was $vold. No matter during the first part of the session it was only declining, closer to the day finish it have stated to rise dramatically (click the chart above).

The position was fixed by take profit order place right near 1067 ES points, that, in my supposion, should be very strong resistance level. It is 9th and 10th feb '10 plus 22nd sep '09 VPOCs. But in fact, market continued to rise further.