Zzup - my 2 bobs worth - The recent trend has been up. On the...

Zzup - my 2 bobs worth - The recent trend has been up. On the SPI 4523 has to be broken and hold. SO far we have had only a 1 day counter trend on Friday. Counter trends usually run 1 - 4 so since it was only a 1 day counter trend there is a good chance it will run up further.

This will probably be an exhaustion move. Next major resistance after that will be around 4630 it it makes it that far. It really depends on the strength we see.

I see this as the final leg of this rally and thereafter down.

Do your own analysis. Look at where Support and resistance lie. Get a bit of an idea on how long counter trends run.

There really isn't much good news out there and I do not expect the market to hold.

HOWEVER - you have to trade what is in front of you - not what you think will happen or what someone else tells you will happen.

You need to formulate your own trading plan and plan the trade and trade the plan.

JD's short this afternoon was a bit of a no brainer. A few attempts to break through the high of the day failed - good quick short if you missed the run up this morning. All it did after that was travel sideways until it finally just couldn't break through

I don't know if that helps but posting incessantly doesn't. I just don't get the feeling you are doing any of your own personal analysis - just posting for the sake of posting.

I don't mean to offend. Trading is not easy and never will be. That is why you have to work and work and work out your plan that suits your temperament and trade that plan according to the time frame which suits your style of trading and believe me - it takes quite a long time to work that out.