By way of recent review of previous DTS reports, we stated : “Friday’s High (2088.75) will be marker as “key” resistance until it is cleared and converted. IF successfully converted, THEN upside projects 2100 handle. Initial support is marked at 2076 handle…Should this level be violated and converted, then lower zones in play will be 2072 – 2068.”
The 2088 handle high has indeed held as firm resistance…Yesterday’s Cycle Day 1 (CD1) Low was 2073.00…So very near to our projected Low Zone Target Support. We will mark these two levels as “Key Support and Resistance” for the final trading session for 2014.
Trade bias continues to favor buying pullbacks to key Decision Points into the “final tick”…Just do not become complacent with your trading…Stay Focused, Calm, and Disciplined.
*****To reiterate, trade expectation is for “quiet firmness” with an upside bias during holiday season…It’s critically important to be strict and disciplined on trade selection…This is not the time to become a bold trader…Plenty of time for that in 2015…For now, be in the holiday spirit and enjoy.
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus of Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
I am disciplined. I behave in a way to reach my goals. I do what I intend to do. I have the intent to win through right actions. I will be patient for patterns to emerge and mature. I am decisive. I decide easily and act promptly. I act in the right way and right on time. When there is nothing to be done, I will wait.