There is quite a bit of congestion right around the 78 level from last Thursday and Friday. I would probably be careful and wait for 77 if it were me. But with good volume you might be ok.
Yawner, on days like this I like to catch up with my reading. http://www.innerworth.com/ The articles are free and deal with a lot of psychological aspects of trading. Later, Jimmy
Since we are in the lunch period it's probably best not to take any trades, unless price breaks 1284.25 or 1271.
Yeah, I don't normally trade during lunch unless there is something real special come up. In fact today I doubt that I will do another trade. I am going out to run errands in a little bit. JJ, Here is a site for your boredom pleasure. http://www.killsometime.com/ Gary
I wanted to better understand your reason for entry. I was up last night when you posted and took a look at your chart and although I saw that the price was at the line you called resistance, not having pre-market charting at this point I couldn't follow the action. So to my question, do you wait for a trigger once you have a possible setup or is it just a absolute rule you follow? Trigger = price is at a possible point of resistance and once price breaks below a trendline or prior bar etc.... I will go short. Rule = price hits resistance I am short at that price minus a couple of ticks. Thanks for your reply. Thanks also for everyone who contributes on this thread. Its like an oasis of civility.