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Previous Intraday Trading Session: [ 3/12/2013 ]

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TIMEALERTS 
15:391547.50 should be as high as it goes.

 
15:39Trade #4 -- Stopped out at 1546 [-2]

 
15:01Trade #4 -- Move that Stop to 1546

 
14:59Trade #4 -- Sell 1544 -- Stop 1545

 
14:57Move lower is possible.

 
14:47Well, the reversal did workout to grab 2 points if I had stayed in.


 
14:38Trade #3 -- Out at 1543.5 [+1.5]

 
14:37Moving sideways. Take profit at 1543.5

 
14:27If the market does start gaining ground in the next 10 minutes, then we have a sideways move which suggests a move lower.

 
14:25>> see chart

 
14:16In @ 1542

 
14:15Trade #3 -- Buy 1542 -- Stop 1541

 
14:08The 2:15 reversal is looking like an opportunity to nail 3 points or more on an upward move.

 
14:06The 1:15 reversal worked out for a two point move. Too unclear for me to take a position.

 
13:58Breakout to the downside. At the reversal time we should see a move back up which should gives the opportunity to short.

 
13:46Breaking to the upside. I am watching for a reversal down when the 2:15 reversal time is hit.

 
13:42Bollinger Bands on 1-minute chart getting very tight.

 
13:3415-minute chart also in a pennant formation.

 
13:33Not likely to form a Gartley at this point. I am leaning towards another leg down.

 
13:22Another pennant has formed with its apex at 2:15.
The current reversal had no clear trend leading into it, so I will stand aside.

>> See chart

 
13:11Looks like it wants to form a Gartley pattern where AB=CD. That would put the next leg up to the 1551 level.

 
12:39Oops! That was an old chart. Please see new one.

 
12:35>> Chart update

Reminder that this is expiration week. The markets have been closing up nearly every expiration week for the last 2 years.

 
10:02So much for shorting the market today. I expect it will hit an all-time high.

 
10:01TRADE #2: STOPPED OUT AT 1550 [-2]

 
09:52Trade #2 -- SELL 1549.00 -- STOP 1550

 
09:17Trade #1: Stopped out at 1549.5 [-1.5]

 
08:53Sell 1548 -- Stop 1549.50

 
 
 
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