- I mentioned yesterday how the 856.75 level of the early net-line sell was clearly operable. Ha! Look now, that price is now a net-line buy level valid through tomorrow. Well at least we know where the resistance is.
- The net-line sell at 831 on the daily chart has reset lower to 823. I think we need to close below there to get the bears in gear.
- One of the comments today remarked on the difficulty this market presents to short-term traders. The key here is the value of the modified DMX on the daily chart. The DMX tells us the strength of the trend. RIght now, that number is near zero and moving sideways. On a daily basis, THERE IS NO TREND! Perhaps it’s best not to even try to trade short-term here.
click chart to enlarge
click chart to enlarge
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