Contrary to what most people believe, life is all about numbers. The long trade from last night was closed out when OEX 685.5 was reached. Remember last night we had to memorize 686, 679 and 674. Without a doubt the market marvelously traveled in between S1 and R1, give or take a few decimals. This is a trader's market. Short from R1 and long from S1 and just suck the money out of the system. Tomorrow's numbers to memorize are 685, 681 and 676.
Now, longer term, are we up or down or what?? Looking at the numbers (sorry it has to be stressed again) tonight, it appears that the smart money has already left the table leaving the average investors to hold the fort. Selling sentiment has subsided but there were not many buyers. You can see in a 2 minute chart, it gapped up and down like a yoyo. Just thin volume trading in effect and moves will be amplified. The market is due for a bounce and this one may just be the last one for this year and it is with high probability that the market will continue downward after this one. Again OEX 690 is the line in the sand.
Good luck
2c
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