Value Area for Monday: 659.10-669.00 

Afternoon,

The Russell 2000 was extremely choppy  today as the summer low volume had it’s way. There were only 2 set-up before my cut off time of 1 pm CST Friday. The first trade was a trader’s trick set-up below the 56 EMA with a short entry of 661.90 at 10:00 am CST. The trade was up 1.10 points. The trade stopped out for a 2 point loss. The next trade was another trend line break to the upside followed by a trader’s trick set-up above the 56 EMA. The long entry was at 662.70 with a time of 12:27 pm CST. Here is the chart for trade 1 and 2.

Trade 1 and 2

Click on chart to enlarge.

As I stated, summer months are usually more volatile with many traders on vacation. A trader needs to be more selective about the trades that he/she does take. Knowing when to trade is important all of the time, but especially during these times.

Here’s to better fishing Monday.

Best regards,

Ron

This is not a solicitation to buy or sell. 
There is a risk in any investment