Took a few weeks off and now I'm back. A little irked about missing out on Friday, but even today was an easy trading day, riding both directions.
I figured followed through from Friday, called a gap-fill, and picked the HoD as an entry point to go short. One day doesn't make a trend (I wasn't uber bearish) so I kept my stops tight and rode it down until it bounced off R1 (resistance -- if any of you calculate pivot/resistance/support levels) and took the time to take some off the table.
Lunch (later than usual) doldrums I took a short nap and woke up to another test of R1 (dbl bottom forming) and took rest off table. Decided to go long and rode it up into the close. Out at the close.
Today's gonna be a sit-on-hands day for me. Gonna watch a few hours of the AM action and figure out any day/swing trades. Yesterdays hammer (looking at dailys) makes me a bit cautious (to either side).
Technicals tell me we should've seen a stronger retracement to 1067 - 1049 levels (on S&P). Techs (at the open, prior to GS news) and GS on Friday were a good catalyst for this move. Will we get a continuation of this move today? I'm not entirely sure as the futures in overnight trading are UP.
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