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If I were long, I would not want to see 70 breached, preferably 70.75 though.

Good to finally see volume back in the market... warm fuzzy.

We are in a balanced market. If one were going to initiate a short, between here and 75 would be the place to do it. If one is to go long here in anticipation of a breakout, the stop should be relatively close IMO. I think satchel held on too long, but hey, what the F do I know? Not much...

Good to know Trvl, I like the simplicity of basically watching one market, but I would like a little more breadth as well; striking a balance could be tricky, but like you I will try to keep the expansion from distracting me from my focus.

Pulling order, do not like a double top test and failure at 65.25 .. will re-eval.

67 was a minor VPOC in yesterday's distribution. Just noticed that we stopped at 66.75 earlier; this may be the hurdle, and if we jump it, here comes 72, and the top of the channel line. Buy limit 63

Looks lazily down satch... looks ready to try to round out and head up IMO.

One more question though trvl -- you watch IYF, but do you also keep an eye on techs as well, or basic materials like IYM? In other words, what makes finnies so special (besides the fact that it's a large sector)? You also mentioned dtx (dow transports?), why this? I'm seeking to expand my...

Excellent, thanks trvl.

Are you looking at a chart of the finnies or just a percentage? They were down the most of any sector when you wrote this (-1.6%), does not seem to be divergence? Sorry for confusion. Also, is there a reason you choose to look at the financials, versus some other sector? Thanks trvl...

What do you mean not playing?

Thanks for your earlier explanation btw satchel, good job so far

closed 62, dang it

ISM in 1 min, crud

short 64

Can you elaborate as to why you think this? What I see is: overnight stays within yesterday's range, inability to push below yesterday's low. Best ADP NFP report since 2006, hugely beat expectations. Basically, this market is relatively balanced since jumping out of balance from last week...

Way to hang in there and give it an opportunity to go.

I learned from the best -- the U/D vol line :D

In all seriousness Macho, it's all good, thanks for candidly sharing, it mirrors how I feel many times. I have fought the urge to trade all day, but honestly I have not seen any "must takes" and besides that, I am not quite in tune with this market. Maybe something will happen in the next 45...

Well, I certainly am, and I have woven a masterpiece: http://www.fao.org/docrep/004/ad453e/ad453e03.jpg