The price action since May 2nd feels like a triangle so far, but one that could break at any time. Below current levels, there is the 50 day moving average at 1323 which may or may not be a target. There is also the gap at 1312.62. And don't forget confluence surrounding 1323 too! So there are some big levels at play here. Above the market there is an open gap at 1353.75. We sold off hard on Friday, why not wrong foot everyone and gun for the gap? Always remember the market fools the most amount of people most of the time. Always try to see both sides.
I'm really hoping for a smooth day with my computer -- no breakdowns. Thursday I'm scheduled for two more mercury fillings to be removed, so I'll trade with that in mind. Not likely to hold many positions into the end of the week. More likely to be a pure day trader this week.
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