Hi Bernard, Have you started to use realtime futures quotes? I think that might help during the day. Watching the overnight futures movement to see where the support and resistance levels are at overnight helps me to see whether the markets will move higher or lower during the day. This morning the Futures hit resistance at 823, right where the SMA resistance was at. That might have been an indication that the SMA resistance would hold today. I am not really sure what sparked the late day rally other than perhaps being so close to 805. NYA jumped right up off of 4600. Not sure of the significance of that level. I have not been following the NYA too closely since they reset it to 5000 mean. I did notice that we did not get a DMI+/ADX crossover so I am Anticipating that we have not seen the HOD signal. It might come in tomorrow at the 320SMA though, maybe. Not sure what the markets are Thinking but for some reason the EOD was Bullish. We will just have to watch tomorrow and see if that will continue. Good Luck Bernard! :^)
SOX at Resistance or Support? It left us Guessing at the EOD as to whether we would get a Long Calls signal or a Short Puts signal out of it as it closed right At the 100/320SMAs. I think that using the INDUs relationship to the 100/320SMA might be the Better signal to use though. We have seen headfakes from the TNX, NDX and SOX before. Perhaps tomorrow we will Know? Good Luck Bernard! :^)
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