During the Christmas Holiday Week, we had projected the high price target 2088.00…This level did get achieved…Trade Strategy 12.23.14. As we enter the final days of 2014, there may be some year end “gaming”, so we want to remain vigilant and stay disciplined to our methods. The last few trading days is not the time to play “catch-up” on any lost trading performance…There will be plenty of time to excel in the new year. It is a good time to review your individual performance, to identify where more emphasis is needed to improve results.
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.
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 will identify my mistakes and learn from them. I am optimistic, realistic and honest. I will not make up stories about the good or bad things that occurred in the past or are happening now. I admit when something is not working. My optimism gives me faith and courage. I will not fall prey to blame and fear.