10.04.13 Controlled Selling

Weakness persists as selling has been methodical and controlled…Given the current stalemate in Washington, Mr. Market has taken it all in stride. There is no Jobs Report this Friday, courtesy of the shutdown, so traders will need to find another catalyst to base their trading decisions on…As the weekend approaches, open positions will be pared as traders will not want overnight (weekend) risk, so today could see a bit of choppy action.

Current extreme lows 1663 – 65 zone will be “key support”…1680 – 85 “key resistance”. Globex low 1667.50 is initial support…1675 – 77 zone initial resistance.

Historical Range for Cycle Day 1: 18.75

Stay focused and disciplined.

Good Trading…David

Habitude Ten
I know anything can happen, and I can handle anything that does happen. I am open minded. My thoughts and perceptions are clear. I know what to look for. I have rehearsed everything. I adapt to change. I will listen to my indicators and the patterns that emerge. I will adjust and not demand that things continue as they first started.