I don't pay much attention to the bigger picture, and I don't try to predict market direction. It doesn't really matter to me as I trade what the market gives me every day and close out my positions by the end of the session. It is worth noting, however, that we are approaching what I call the "Retracement Zone", and this area is likely to provide solid resistance. Unless we gap over it, in which case watch out 10,000.
Either scenario is likely given the crazy volatility.
This has been a Trader-X Public Service Announcement.
PS - Is anyone going to watch that new Christian Slater show tonight? I am intrigued.
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6 comments:
You're absolutely right X. You can see how it hesitated right around 9000. Hopefully it will gap and continue on it's way... and we'll emerge from this cow patty we call a market!
The volatility is amazing. My money is on a stall out just a little higher, and a reversal to head back down.
My Own Worst Enemy looks good. Thanks for the head's up!
I just finished watching the show and then came across your post while reading through feeds. Definitely something I'd watch a few more episodes to learn more.
Nice trade. I thought that show was good last night. What about u X?
I liked it. I will check it out for a few more weeks and see how it progresses.
I noticed we got the reversal. Good call.
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