Another good day...

It was prudent to close out the longs yesterday for any overshoot past r1 will almost always trigger a retracement in the morning albeit strong trend. This morning we had bad PPI and HD reports. However, the market is on an up trend and pivot 628 held. Longs were initiated and the news from IBM just fueled the up move. Again, as you can see in the chart, the longs were closed out when
r1 (635ish) was reached . Not to be greedy, there is sometimes overshoot by the late comers and you can see they were the losers by the close. Tomorrow's numbers are 640, 633 and 628. This 635 area is an important area, and one would not be surprised to see some retracement before going up again especially when it is overbought. The market is attempting to stage an intermediate up trend, if it can close above 635. The chart is to show how pivot numbers can be used to trade profitably. Real time posting of trades is not the objective of this blog for there is no need to prove anything. Recognitions and glories can be left to other posters. Realisation of monetary rewards way surpasses any other recognitions.

2c