We are back trading at the previous breakdown key level of 12797. Careful here as this pivot wqill determine which way the market wants to trend short term here. If we get interest above it then be careful on the short side. Although the sellers are so strong today I would probably not go to the long side unless we break today’s open and make a new high. More after lunchtime.
Categories: stock market ideas · trading the dow
Tagged: tradingstock market trades
So basically we are chopping around the low’s. Above is a chart of the mini dow that shows somoe levels I am watching. Notice up around the 12785 area. We have botht the opening price and very close under that the 61.8 retracement of the early push down. I would not consider any bullish thinking unless I saw intrest above this area. Let’s just say intrest above 12785. I dont mean just a break above but actually see some larger timeframe buying in the area. For now my only position on is long the QID ETF in which I have sold a piece and now have a free position on. Let see if we get a drop before lunchtime.
Categories: learning to trade · trading the dow
Tagged: index futures, trading mini futures, tradingstock market trades
