YM Session Levels

The market has made a substantial move on up but I see no OTF buying at of yet. The volume is good, but the volume I watch is non existent. This can (Might, may, sometimes, maybe, don't bet on it) lead to a sharp reversal of direction.


I am short at 11544

 

There were buyers yesterday down at 11350 and I was one of them, some older longs I see at 11430 and 11367. We may see 350 again in the near future. Who knows.

 

Out at close +54

 

I've noticed your premises for the trades are pretty good, but you have a problem sticking in for the ride. You were short at 11544, you could have easily rode it to at least 11480. That should have netted you about 300 bucks. Also, your call yesterday getting long at 11350 area, you should be up a half a g.

Just some friendly advice, to stick to your guns, you've got to take a little more before you get shaken out.

 

DTL
You said "The volume is good, but the volume I watch is non existent. "
Would you explain that more fully?
Thanks ---- Russell

 

Short at 11645

 

I will try to explain later after market closes.

 

If we do move down there were sellers at 11600. They will likely cover and push the market up a little. I will exit 11585/11600 and see if we get through this level.

 

I have some major cycle change signals going on. Some at 12:00 and some at 12:30. It's hard to be short. I will post the levels as they develop.

The cycles could be up instead of down.

 

Out of my short. Long.

There were buyers at 11700. Watching the 11671 area on the downside.