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Previous Intraday Trading Session: [ 8/9/2013 ]

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TIMEALERTS 
16:01Trades Today: +2 +2 +0 +1.5 +2 = +7.5

 
14:07Trade #5 -- Out 1689.5 [+2]

 
13:59Trade #5 -- Stop 1692.5

 
13:55Trade #5 -- In at 1691.5

 
13:54Trade #5 -- Sell 1691

 
13:34Resistance was weaker than support, and the market went through it.

 
13:16No wave 5. Turned into a 1-2-3 pattern. Lots of support at 1689 and resistance at 1691. In this case, support is stronger than resistance.

 
12:16Start of wave 5 down? I think so. Watch for 3-inside bearish candle formation on the 15-minute chart.

 
12:07Start of wave 5 down?

 
12:06Trade #4 -- Stopped out 1685.75 [+1.5]

 
12:04Trade #4 -- Stop 1685.75 (+1.5)

 
12:02Trade #4 -- Target 1687.25 (+3)

 
12:01Trade #4 -- Stop 1685.25 (+1)

 
11:58This looks like a wave 4 move. It would be complete around 1688.

 
11:53Trade #4 -- Target 1688

 
11:50Trade #4 -- Raise stop to 1685 (+1)

 
11:48Trade #4 -- Raise stop to 1684

 
11:37Trade #4 -- Raise stop to 1683

 
11:36Trade #4 -- In at 1684.25

 
11:35Trade #4 -- Buy 1684 -- Stop 1682 -- Target 1689

 
11:30Watching for confirmation of a reversal.

 
11:21Looking for support at 1683

 
10:59OSS REVERSAL -- 11:30

 
10:52Trade #3 -- Stopped out 1691 [+0]

 
10:48Trade #3 -- Target to 1693 (things are slowing down)

 
10:46Trade #3 -- Raise Target to 1693.5

 
10:45Trade #3 -- Raise Stop to 1691

 
10:43Standard target is 1693 (2-points), but watch for a rapid rise. If that happens, try to ride it out.

 
10:40Trade #3 -- Buy 1691

 
10:39Overall it is looking like the market should finish up today. The chance for a 3-digit move in DJI is very high.

 
10:31Signs it may go higher.

 
10:22Support at 1689

 
10:07Trade #2 -- Out 1692.5 [+2]

 
10:02Trade #2 -- Sell 1694.5 -- Stop 1696

 
09:46Trade #1 -- Out 1695.5 [+2]

 
09:38Trade #1 -- buy 1693.5

 
 
 
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