Monday, September 23, 2013


Totally wiped out tonight.  So I am going to keep this brief.   Failure to get above and hold Fridays low put sellers in charge this am .  The White Zone was at 1707-1709.   Buyers are in control above & sellers below.   The further we rotate away from the WHITE ZONE, the less power or influence it has over market participants decisions.  The key long opportunity came at Initial Support.  In this AM's market preview sent to clients I said that I expected responsive buyers at Initial Support & that is exactly what we got.  Strong responsive buyers pushed us up about 6 points to 1968 where we proceeded to chop with a down ward bent (sellers still in overall control.) As a side note,  my trading early in the day has been less than I expect in terms of performance.  I think this is in part to putting together the pre-market trade report so close to the market for my clients.  Will make the adjustment tomorrow to have the pre market trade report out by 8am.  Hopefully one small adjustment will have a big outcome change.  Would like to see an increase in PnL this week as it is less than my average to this point in the month.  Keep trading well folks.  Have a good night. 


Trading of securities, options and futures may not be suitable for everyone and involves the risk of losing part or all of your money. Commentaries are educational in nature and are designed to contribute to your general understanding of financial markets and technical analysis. Use it how you want and at your own risk. I am not a registered investment adviser. This information is a general publication that reflects my opinion and is not a specific recommendation to any one individual. You must consult your own broker or investment adviser for investment advice. Controlling risk through the use of protective stops is essential

No comments:

Post a Comment