OK, a quick look at today's market action. Opening today @ 925.50 after yesterday's 915.00 close left us with a nice 10 point gap to fill. We quickly hit our days high of 927.00 @ 9:41 bringing us into our change in direction starting our descent. It came to us without warning after a choppy open at 9:44 with a beautiful signal to short, and boy did we ever.
A 15 point drop came our way right out of the gates, (All you swing traders out there must have really loved that!) and aother 5 ponts by 10:30. Point of control today came in at 912.25, fighting a little but then continuing down to our day's low of 898.00 around 3:35. Our range today was 27.5 points, leaving enough room for everybody to profit. Then filling yesterday's gap of 915.00 @ 10:23 and also closing the gap from Tuesday (900.00) later in the day. 903.00 was today's close. Up a bit from our low, and sending us into the overnight on our way up. Watch for a higher open tomorrow, provided we keep with our weekly trend. Hope this is helpful, keep your eyes open and your trigger finger ready. Watch for the shorts, we may be getting into a change in direction.
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