Here we see a 60-minute chart of the S&P 500 e-mini (ES) futures. Note that candidate transition pattern that I wrote about a little while ago. Observe how selling volume was quite high on 9/1 and has gradually petered out since then. Now, on the heels of a largely favorable set of unemployment numbers, we're seeing the former resistance in the low 1000 area now trying to act as support. If that support can hold, we should see a nice swing opportunity to the upside.
Meanwhile, we see some dollar strengthening; gold and oil are off their highs; and 10-year Treasury yields are higher, but also off highs. We'd want to see these intermarket themes kick in to support any upside rally in stocks.
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To pick up where the "Learning How to Trade: A Different Model of Trader Education and Training" post left off. I started the blog
http://implicittrading.blogspot.com/
Those who want to participate in intraday discussion(s) and trading development, are welcome.
Please note: Because I'm a full time trader, I don't have as much time as I'd like to getting the blog up and going (read: blog will be down and dirty). Therefore, suggestions, comments, PARTNERSHIPS, etc. are greatly encouraged.
Ideally,http://implicittrading.blogspot.com/ will be a communal resource. You'll get out it what you put in.
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