Friday, July 10, 2009

Midday Briefing for June 10th

The Market Delta chart shows clearly how we've been trading in the morning range, oscillating around the VWAP (red line). It's not uncommon to hear traders describe such days as poor trading days, but patient traders often can find opportunities to fade moves away from VWAP. The key to trading such days is waiting for the setups to occur away from VWAP, rather than getting chopped up near the middle of the range.