I used to run a ta where she had an account through a fund. She always dropped the "do you know who I am?" crap on the phone. I wish I would have dubbed the tape. And this was back in the late 90's when she was getting groped on the nyse floor every morning, long before she was checking out...
Check out the cycles in relation to the market volatility and extremes. It is uncanny. Sunspot activity is at a several year high. Get ready for some good times.
http://www.spaceweather.com/
The game being what it is, the market needs all kinds of participants to provide liquidity. I've known traders who make a few ticks on 100 cars a few times a day. I would agree they do exploit the trend on a much shorter time frame, but would not question their success.
Short term...
We can export a ton of shit with falling dollar, boeing, catepillar, drugs, tech, widgets....... We can have job growth outside of heathcare and services.
Agreed trend was long all day but there were key retracement and extension levels presented within that warranted low risk entries. Every trend or continuation starts and resumes with an absolute, that is what I seek. I maintained the trend was still up this morning getting long at 546, 540...