Market Right Now, 1:30PM, ET... Scatty

The market right now is in the middle of a "rising channel", which is bullish for swing plays. There is support at 3966 and at the lower blue line. Resistance at the top blue line. All else is noise. Trade accordingly.

 

LOL! How many ETers will even GET the reference of Duane Eddy?

 

What time frame?

 

That's a 5-minute chart... but the time frame doesn't matter.

 

I disagree, but everyone has their own way I guess. Different time frame charts show different patterns and using 5 min chart for swing is bit strange to me. Anyway I hope you make money on your trade gl.

 

PS: SPX is 3925 as we "speak" there goes the support line (I am more for ranges)

 

You are wrong about this. Whatever is shown in a longer term chart is also shown in a shorter term chart. ZERO EXCEPTIONS!! (Longer term charts mask some/much of important price action.)

 

My reference is for the ES Futures... currently ~ 31 points premium to the cash.

 

Here you go. I alerted to the "test of the lower channel line as support". We got that... RIGHT ON THE BUTTON.

What happens next... how long will it hold/run... or will it break down/fail? I dunno. All I/you get to know is the "setup" (this was it). What happens after... you have to play by ear.

Price TA... KISS, baby!