Replies to post #27574 on ETF SWING & DAY TRADING

[shortterm]

Possible shadow over the markets

Just heard on the news, UN security council has given 30 days for Iran to stop enrichment operations. This could server as an excuse for oil to rally and markets to fall. But only if they are so minded.

A lot will depend what type of reactions Iran gives. So far they have been quite willing to pick a fight.

And no, don't take it as a reason to short the market, just keep it in mind if it develops into something.

At this point, with the narrowing ranges, anything can act as a reason to break one way or another. And despite what anyone says, it is not clear until it happens.

Cash is a good position....

[gkm8198]

shortterm, Thanks for the detailed response. I agree with your analysis. I trade the intermediate trends and don't have the time to be a day trader. In additional to all that you said, Ted Burge has resistance for the Nas 100 at 1710, which is where the Nas 100 was rejected today. Until it breaches 1710 and holds, looks like we are still in the channel. If this move is the beginning of the next intermediate trend, we will know soon enough.

Regards

[Torqputty]

shortterm re; Month end

>>>>>We are getting into a turning point one way or another. Rationally thinking it should be down, but markets rearly are that easy....
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i am also thinking down but am starting to believe there is more up side than just end/of/month dressing,

the part that gets me is the feds still tightening (thats downside to me)