I'm Stunned

By 10.30 a.m. the market had moved to S1 and R1, which I recalculated at that time. Day traders struggled to make any profits, until 3 p.m. This high frequency computer trading that has been taking over the market appears to manipulate both the open and the close. All I know, as I study up on this, is that this new high frequency computer trading is extending trade ranges.

Simply put, this means traditional lagging or technical indicators appear less accurate, concerning Wall Street more.

Months ago I predicted that from the lowest low (6400 average) it would be likely to have a Fibonnaci retracement of 68%, by year end hits highs at 10, 400 to 10,750 and a bull market under normal market conditions could achieve this, and I still see it.

But, I'm stunned by the trade range. We've been overbought far too long, without showing an accurate bell curve count, and healthy markets need healthy consolidations or distributions to allow the market to breathe.

We'll close out a put today, our third put loss, and our 18th call gain, and not recommend a new signal today unless risk traders want to try the same call signal we've used for 7 days, we're falling in love with it, as the PPT or someone daily moves the market up late in the day.

Our call recommendation was profitable only day trading for tight profits.