All that pissing sideways since the 15th and we had that little pump from 7450. During the 7400 range just before the pump my gut was telling me I should make a play, but I just couldn't trust the market. One gut feeling isn't enough for this novice trader and the charts weren't giving me anything definitive either. Up we went over 6800, but it looks like I didn't miss out on much. We are coming down again and I believe it's smarter in the long term that I stick to high quality setups.
Right now we have a 1 to the downside after reaching a 9 on the Tom Demark Sequential. The weakness of this pump allows me to trust the reversal 9 easily. We could still bounce off the shit rope (brown line) and pump up a couple of hundred, but I still don't see us getting to 7000 or 7100. I just have to keep watching the charts for strong setups that I like. In the short term I expect to see 6300 again.
Right now we have a 1 to the downside after reaching a 9 on the Tom Demark Sequential. The weakness of this pump allows me to trust the reversal 9 easily. We could still bounce off the shit rope (brown line) and pump up a couple of hundred, but I still don't see us getting to 7000 or 7100. I just have to keep watching the charts for strong setups that I like. In the short term I expect to see 6300 again.