Kovu - I use both the daily and weekly charts to play IT signals. I look for special (rare) cases like that tall Gravestone Doji on the weekly outside the Bollinger Band to help improve my IT signals. There are a couple other candlestick formations that I look for outside the BB that have significant bearish implications in a fast moving market.
Jan 4 - We have transitioned into a bear market. Completely different rules apply. May 23 - IMO, any price at/above this close makes a great Nasdaq/SP500 short.