09.26.13 Weakness Continues

Bears keep attacking the Bulls stronghold at the key 1688 level….Unless the Bulls can continue to defend their ground and push price back above 1695 – 1700 zone the next wave of selling has high odds of violation current lows at 1684.50.

Today’s odds suggest if additional “material selling” does occur then decline greater than 10 handles come in at 72% with an average range of 18.75 handles. Of course these odds are not certainties so trade setups accordingly as anything can happen.

Violation of PDL (1684.50) targets 1681.50, 1677.50  down to X-Zone extreme 1672 – 1675. IF a rally does develop and 1695 is penetrated, THEN upside targets 1698, then, 1700 – 1705 X-Zone.

Remain nimble and disciplined.

Good Trading…David

Habitude Five
I think in terms of probabilities. I do not know, all I have are probabilities. Probabilities are at the core of my decisions. Through consistent application of the probabilities, I will win.

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