Strategy Central

[sammy1024]

hi kovu
Have you used ted b before? one question I had on his support and resistance is when the market is trending up or down, the indices blow through the support and resistance points. How do we trade with that in mind?

by the way we were at support at 49.80 in the morning on friday so with the rydex am price, one could have gotten in and out at the end of the day for a 3 percent gain. well we went to 49.34 in the morning but the hourly stochastic on the nasdaq chart seen here, 2nd chart was oversold and the macd was close to 0 so really don't have to worry about a prolong sell off. this is my observations, I will see what happens.

(http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID897936&cmd=show[s84568568]&disp=O)

we are heading up to 51.45 I think then I will see what happens to see if I should go short.