Thursday, May 16, 2013

May 16, 2013 Market Action

Today we opened at right at initial support and
bounced to the initial resistance. That level
was rejected and a move donw to support again followed
After a few pokes above resistance the market
could not make it through and we went sideways during
the lunce hour. anothe attempt to break the initial
resistance failed and the market came down through
initial support and finally down to the second support
level.

As you can see the market had trouble at resistance
levels today and offered some good opportunities for
trading.  Check out the chart below and see how
well the market respects the levels listed in the nightly
update.


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