After The Rinse And Spin…
The major index
futures markets opened in 13-minute downtrends this morning,
due in part to
(
CSCO |
Quote |
Chart |
News |
PowerRating)‘s lowering its
expectations bar faster than a high-jumper with a broken pole. (Or turning to
another sport, why don’t we just bring the fences in at Coors Field to make the
home runs easier in Denver, but I digress.)Â The early trade has thus far
been somewhat of a snoozer this morning, especially compared to yesterday
afternoon’s rinse and spin cycles, which has been reflected in a lackluster
pace.
For those in short positions, the emerging doubling 13 & 60 minute downtrend
supports can serve as a trailing stop, and daily support as trade resistance
until violated, as we remain in a daily uptrend heading into the afternoon
session.
ES (S&P)Â Â Â Â Â
Thursday November 7, 2002Â 11:30 A.M. ETÂ Â Â Â Â Â Â NQ
(Nasdaq)
Moving Avg Legend:
5MA
15MA 60-Min 15MA
See
School and
Video for Setups and Methodologies
Charts ©
2002 Quote LLC
As a heads-up, I’ll be away from my
trading office all of next week which will mark the first time since we launched
this trek 18 months ago that I’ve taken a “non-emergency” column break. I expect
to return on November 18.
From the
Video Mailbag
Hi Don, Well I went ahead and bought your e-mini video course even though I
already had your QQQ course and I’m sure glad I did! I watched all the videos in
one day and it was EXTREMELY helpful — it clarified a lot of things. Watching
you trade was fantastic. –B.B.
Good Trading!
Â