November 2, 2005: TD

My my!! The market trended as expected - usually trends day or 2 after FOMC... I thought it would be to the downside.... ok, so my crystal ball ain't working... refund time?? hehehe... Is there anything on this chart that says possible short?? That's what I like about market breadth and emas as they clearly show where to trade.... look at the bands on Add and how the retracement was above the bands and the levels (+1200) were too strong to short....I want to see continuation especially the Dow is coming up against resistance @10500-550 area, Sox @450, and AB @660.



Today's setups were a major 'Duhski'... first one was a money maker but the last 2 were choppy and I think they were stopped out with minimum gains.... the 3-min bars are used for stops and the 10-min are for entries... stops are trailed using the low of last 2 bars on 3min... Lesson of the day is the consolidation on YM below ema... no trade on YM early morning but AB yes....