ammo thanks for the update, you made a perfect analysis of the market, one question: you know I draw trendlines on M-W-D charts of the main us and eu markets, which is the advantages to use also the bullish % index, should I use it too? many thanks
there are hundreds of things to watch,you need to pick a few and get familiar with them,once familiar,if they are not useful,discard them,i probably look at this 10 times a year,when its contrary to what the markets doing,i'll keep an eye on it ,i look for s/r and then whatever the word is for incongruety where one market is going up and a like market is not or failing,if you look at that bp chart ,it started falling at the end of/ first of the month,the spx was hitting the redline all time resistance on 5/10,it qave you a pretty good short signal denoted by upper arrow, lower arrow to right of chart is spx supp where es bounced already tonite
this is last week resume, I didn't post because I didn't post in the forum a couple of trades... WEEK TOTAL (commission already subtracted)

 5-16-2011 monday = - $216 (c:$25) (t:5) 5-17-2011 Tuesday = - $6 (c:$60) (t:12) 5-18-2011 Wednesday = - $375 (c:$60) (t:12) 5-19-2011 Thursday = +$285 (c:$15) (t:3) trades: 32 commission: $-160 total: - $312 comment: it was the worst week in 3 months, I actually lost control quite every day and didn't respect the rule that want me to try just 2 times trying to pick a bounce from a S/R, also I didn't respect the max daily loss of $200, and the max daily loss from the max daily gain... so a total disaster, again I had problem with taking profit, and so I decided to go on simulator with two lots.