Thursday, February 21, 2008

Day Traders Framework

I thought I would try and spell as much out for the day as I can, just in case I get into a position to where I cannot post.

The Day Trading Probability Models calls for a sell-off day and a close in the bottom 1/3 of todays range. Therefore, we will be looking to short early rallies and keep a close eye out in the 1369 - 1375 area for potential weakness.

If we do sell off from these levels then be prepared for a potential move lower of 25-30 points, but support should be found.

The Resistance Numbers for today are:
1367.28, 1372, 1375.21, 1379.01 and 1388.85

The Support Numbers for today are:
1348.05, 1344.85, 1340.87, 1336.35 and 1331.17

Large Green - Strongest and highest odds based numbers
Red - One step below green as far as the odds factor

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