helps to watch the 3 and see how they react at supp areas dow http://i.imgur.com/qjv3nc5.png trans http://i.imgur.com/4IPwqPv.png spx line is 87 http://i.imgur.com/7CnJyLp.png all 3 are in a distribution pattern
Too much danger to me shorting unless get a 50% retrace back to around 1799-1801 Also there's a lower trendline from the prior lows on 5 day chart starting at 1778 so a long at 91 area back to 50% is my trade
My bet is that double or triple top is a top of an ascending triangle and we a making a higher low of it right now
My method is for intraday scalping, by the way; I wouldn't be looking to take a swing short position right here in the middle of a potential range.
Apologies if my methods are simple (chapter 1 stuff), am constantly impressed with the various techniques you guys/gals bring to the table. Simple old school stuff still seems to hold water. Watching YM here for a possible bounce signal on intraday, 15865 or so, also the less watched S&P400 MidCap futs at 1289.x-1290 or 1291. In a token short NQ from 3518.75, looking for a strong rally to consider adding for swing. YM specifically is now in a very attractive triangle (chapter 1 again), and ~15865 is the lower TL in the coming minutes. Looking at 16000-16020 YM as resis. this afternoon if we bounce (doubt we would get that high), else below 15865 might accelerate the selloff?