Yes eudaemon they belong to you and everyone else on the entire thread. Happy to be of service. I am not a market predictor. I'm always learning more and was mentioning support and resistance levels looking at the daily chart. Daily chart shows pullback with a long bias. Meaning enough strength has been established to start a pullback into a long trend. Weekly chart still shows downward trend but strength is lessening each day. so depending on what the fed will do determines if the new direction holds or not. I posted support and resistance levels 6-16-11. Now the market shows a long pullback.
market runs 40 points while you sit on the sidelines saying no clear direction yet were confident to take shorts at 1257 and 1263 last week near the bottom at the 200 day ma?
That was the 16th Thursday its now the 21st Tuesday The 1321 Short was [Daily Chart] a pullback similar to how we now have a long pullback on the daily chart. The 1289.75 and the 1281 short was [Daily chart] looking for a new trend to develop. It got to a low of 1252 but did not breakout. The 1258 short was [30 min chart] where the strength was on the short side and during that wild whipsaw day the strategy held up during the intraday The 1263 short was a cycle reversal on [30 min chart] where the market made it down to 1258.50 from 1263 I could be wrong but your primary focus is on intraday/day trading. My primary focus is on building into swing positions whenever they occur but I will be updating weekly support and resistance levels for intraday 30 min chart on sundays. I am happy you caught the move yesterday and today. I do not have any bias I just like to see people on the right side of the market because on the wrong side (even if I was on the wrong side) means someone else took your money.