Doug Green

Another late start at 8:15am.

1. At 8:15am we have an A on the 1152 and an unconfirmed A on the 7500, an unconfirmed X on the 233 and a near X on the 288. Short term triggers have rolled. My first thought is I arrived at my desk a little late again. It looks like we're starting the B. However, the long term trends are mostly up, and price has already moved through the big triggers. I'm going to pass on this which means I might be waiting until the open...
2. We fell on the 8:30am news. It fell then bounced then ran down. By 9:00am we had lower X's on both short term charts, but shy of an X on both long terms, bouncing off the 1138.25 zsr. Waiting...
3. At 9:22am the 1152 has a C and is looking for an F. I'm waiting for the small triggers on the 1152 turn positive first, and then for the 233/288 small triggers to roll negative. It would be nice if this happened at the 1141.50 zsr, which also coincides with the short term upper balance line, the long term midband, the long term big triggers, a 7500 1:1 at 1140.75and a 233 zsr. This could happen right at the open.
4. At 9:29am I'm placing a short limit order for 1141.25. Price dropped at the open, I pulled the order, then price started to climb back. I'm still interested in the F near that price range but will wait for it to react before going short. I went short at 1141. The long term triggers turned long, so I got conservative and was stopped out at break even.
5. At 9:42am I'm thinking long. I try to talk myself into it based on the 1141.50 zsr and the long term small triggers coming through the big triggers. But the 1152 potential F and 7500 potential B are still in play, so waiting...
   • We're almost done with the second week of trading for the new year. Markets are behaving relatively normal. Starting next week I'm going to try and be less conservative, and take trades like this one.
6. By 9:52am, we're into the morning reversal timeframe, we've tried to go long all morning, and not succeeded. If it's going to go down, it should turn soon. We're hitting some resistance with the short term upper bands and short and long term 1:1's. But nothing is clear enough for me right now, so I'm going to stop for day and monitor charts. Maybe something clearer will setup before noon.