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Mirror Image Trading Day

Jul 01, 2009 - 10:08 AM EDT

Bill Cara submits: [Excerpted from Bill Cara's Daily Report]

Tuesday was the mirror image of Monday. Monday popped higher at the open and then sidetracked all day, while Tuesday plunged at the open and then sidetracked all day. Unless you can see the order flow, or know in advance the tone of the economic data to be published, it makes for a challenging trading day.

At the close Tuesday, the S&P 500 (919.32 -7.91 -0.85%), the DJIA (8,447.00 -82.38 -0.97%), and the NASDAQ (1,835.04 -9.02 -0.49%) were all weaker.

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Source: Seeking Alpha (Jul 01, 2009 - 10:08 AM EDT)