Joined Dec 4, 2012
319 Blog Posts

Machines In Control


You are not competing against other players on a day to day basis. Rather against the machines. You need to understand and embrace this fact.  Today was a classic day. Gap open, third day in a row. Guess what? It fails again. Of course it does as the market is still sick. Be alert to the day that it does not fail. Then and only then will you know that the pain has left the market for now.

Key levels to pay attention to each day are the intraday resistance, pivot and support. Also, key are the high and lows on 5 minutes, one hour, prior day 2 hour high and lows.

As an example, SPY struggled from 12:33 to 2:24 p.m. EST to firmly hold pivot. The reason I point this out is the machines know these levels so you should as well.


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One comment

  1. fryguy15

    Like your posts. Did you ever attend Reinberg?

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