I'll start with Friday's HOD area indicated by Jim.



The first support areas for me are 53.75 and much stronger 49-50.

That's what I'm seeing rat, but it's hard for me to short a 50 point straight up move. Normally I love it to be strong into an area, the stronger the better, like how I got so excited on Sunday. But, this is almost too strong. So, I'm going to try to get a handle on it. I think it wants the 50 points, to the 66-68 level here. But, it's close, and this last push could be it.

Anyway, interesting how they close it right at a super-key area, huh? Have we seen that before?

That's a lotta chart work you did and posted there, rat. Lotsa good stuff to look over.

One more little push here, hopefully to 66-68, and I could see a very skilled trader who is very price action aware and jumpy taking a shot. But, I think it may get pushed higher, maybe even 80-90. I could see a short here, but only if one is really responsive and not married to the position. As they say 'Don't try this at home, kids'.

Also, initiating a short at the end of the day, a day with a 50 point move, well, that's not the way to set something like that up in most cases. European open, in the overnight, near our open, something more traditional.

I've seen them dump at this time of day, just not that often.

I know! I just had the best one day trading profit in about fifteen years from my entry this morning, a tad early, to my exits in the last hour on both upro and qld. A big down move in the next couple of days would not surprise me at all....you can see it in spy especially.....the computers are running the table and they are doing a great job of it. Roofer has said a number of times "if the computers can figure it out, I can too". I'm about 1/4 as smart as either of them, but sometimes getting it right is just so easy. It helps build trading discipline about not forcing a trade when it's not this clear.

Great comments, rat. I've not seen anything like this past two weeks in as long as I can remember. The last time? During the crisis. That's why I think we are most likely in a bear.

why traders need discipline at the exits......spxu then and now:

So, that super-skilled trader who doesn't care about the time of day, he might be ready to start to dabble.

ha ha ha ha ha! Thanks jim ;)