Yeah - it was a nice fade after this mornings' report that I profited a bit from. Question: ~818 looks to me like recent support. I know Joe calcs with a further time-frame. . .but is there a number that if broken will pretty much reliquish those gains we came up off ~740 level ('08 low). pay$
<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/8vlNp86hzVQ&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/8vlNp86hzVQ&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object> 817 is an area of support then 813-808
Both sides of market Friday, just tells you not to have a BIAS when trading, this is a market we will never forget ! Plus All Targets hit ALL markets BOOOOOOOOOOYYYAAAAAAAA BABY, Take that CRAMER.........LOL
If you watched my video from the other day I mentioned the H&S patterns that where showing up all over the place Well......... Here they are on all markets, this is S&P on friday I will post the NQ pic and the Dow Pic as well
This the Dow Futures on Friday you can see the H&S as well and both sides target hit just like S&P and NQ
np - seems targets hit in the pre-market!!! I went LONG Friday and am looking to see if we can break through the 897-917 resistance. I have 1NQ still short, but have a hard time figuring - when a market is rallying this bullish - where to cover. Once the target is hit, I think we can expect a pullback by a fair amount if resistance is that strong. I guess I will watch the pullbacks and rallies to resistance and gauge how much profit-taking goes on. I'm not sure if I can expect for today's Line In The Sand to again be crossed. pay$ FWIW - it seems a good day-trade play to jump in and out as the market attempts to break overhead resistance. I guess I am getting better at intra-day trading - based solely on PA, lol. But I keep telling myself how much I hate this (too little profit - too much work, easy to churn...or worse LOSE and poof there goes positive trading psychology). I refuse (at least for now, which is a task in and of itself)!