Despite below than expected economic reports, the market overnight traded past the 919 resistance, and is still above this level. The first 30 minutes should determine if this level holds as support.
I was surprised that the 909 area held as support, but this level once again attracted buyers. I refused to short the market in the afternoon, unless it traded below the 908 level, which it didn't.
I'm relying more and more on the 30 minute chart for support and resistance guidance.
" I never blame myself when I'm not hitting. I just blame the bat and if it keeps up, I change bats. After all, if I know it isn't my fault that I'm not hitting, how can I get mad at myself?" Yogi Berra
"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!" Reminiscences of a Stock Operator by Edwin LeFevre
"Creative persons differ from one another in a variety of ways, but in one respect they are unanimous: They all love what they do. It is not the hope of achieving fame or making money that drives them; rather, it is the opportunity to do the work that they enjoy doing." Creativity by Mihaly Csikszentmihalyi
"Be very, very careful what you put into that head, because you will never, ever get it out." Thomas Cardinal Wolsey
"I haven't trusted polls since I read that 62% of women had affairs during their lunch hour. I've never met a woman in my life who would give up lunch for sex." Erma Bombeck
what a crazy market .... fake up... fake down
ReplyDeletestops running....... when will it end ?
Daytrading heaven but swing trading nightmare
I was surprised that the 909 area held as support, but this level once again attracted buyers. I refused to short the market in the afternoon, unless it traded below the 908 level, which it didn't.
ReplyDeleteI'm relying more and more on the 30 minute chart for support and resistance guidance.
Charles