Yellow Light

We broke the 61.8 with a trend line just over head.  I will go long if we a break the trend line, back test the trend line and move higher to make a higher high.  We did fill the gap and that was the time to take a risky trade for a long.  I tried but did not get filled.  Bummer!

We may also have chance to get long at the 203.48 again tomorrow.  All the big boys and girls that missed this move will want a pull back so they can get in as well, at the green arrow.  But at that time you will have to make a decision to go long or not if we do not break the upper trend line.  We may go sideways.

Yellow Light

We do have a gap to fill sometime.

Yellow Light

We broke the minor 61.8 but the All The Way Half Way Back (ATWHWB) is the stronger residence. Still waiting to enter.  I am playing futures short term for some cash.  Market had good news today but this may be short lived. If we break the 204.70 I will start to go long again.  We are still in a large sideways market.  We could go to the top of the range but not until we break the ATWHWB.

Yellow Light

We got a pop over night.  We will have to see if it will hold for the day.

Yellow Light

Well we hit the 50% by the end of the day.  This may be a reversal to the up side.  Did not take a short because it was the end of the day and the 60 minute is looking to the up side.  Still sitting and waiting.  It may take a few more days to work itself out.  If we get above the 203.31, I will start looking long but working my self in slowly.

Here is the 60 minute. It popped at the end of the day and everything is over solded. We have a divergence on the Ergo and Sto to the up side.  OBV is moving up as well.

Yellow Light

We are getting a bounce off the bottom at 197.81.  Everything is looking weak.  I will take a short at the 50% (202.03) if the market still looks weak when it hits it.  I will wait for the turn before I go short. It may just blast past it and keep going,  This will be a riskier trade. We are still going sideways and not breaking a new higher high or a new lower low.  Most indicators are showing down for now.

Yellow Light

Bonds are falling off.  Maybe we will get a pop in the markets today.  This may be a slow week.  Waiting for the market to tell me what way it is going.

Sometimes you have to wait.  Waiting is better then taking a high risk trade and loosing money.