Techknow Trading

It is. Now this will wither move down because it came off the major resistance area, or we could see a quick move up and a shooting star form to confirm the bearish action. Either way due to price being under 20k and that being a significant barrier it would be a fair trade to try and short with stops over 20k. Im personally not trading this because im focused on oil and gold right now, but if i see a shooting star form next or proper bearish action I will certainly jump in.

Thank you. What is your view on gold?

I'd be surprised if the Dow isn't on your radar Tech.

If you caught my post in the gold thread last week, I was looking for 26xx or that Major 3 month trendline that I highlighted. Price in fact continued to move up so I imagine the price will hit and respond from it, or maybe an overthrow to the upside would be even better for a downside retracement. It is really hard for me to tell you what I exactly think until about 12 hours after the market opens, but as for now I see now reason this TL is not hit. We are extremely close if not touching already, it is hard to get a true figure based on the time frame of 3 months. But it is in that area right now. An overthrow would be big though so will be watching for that. A simple and small retracement from this TL would take us to 2088. Not in a straight line of course, tons of wiggles during this time.

It is actually, S&P ND DOW all on radar. I would like to see major downside still on Nas100, particularly and the S&P but I will need to see how they open on Monday to get a true perspective. I know under 20k Nas is a good short because the risk is very defined. But that doesnt mean it wont break 20k, it just means the math is good. Ill do another chart of Dow and Nas after the open when I get a better idea. Cheers

Me and Skullcandy are live trading in my room starting an hour before NY session Monday through Thursday and sometimes on Friday.