10.16.13 Showdown at “OK Corral” (Washington Style)

The Budget and Debt-Limit talks has reached the point of an outright “showdown” that can be analogous to the famous gunfight at “OK Corral”. One side will be left standing in the end.

As the World holds its breath from all the drama, investors/traders continue to believe the a default will be averted.

Prior Day Low (1689.50) was reaction low as we opined in yesterday’s blog posting…Key Marker today will be 1698 handle (look for continued support there)…Violation of this level suggests retest on prior low. Penetration of PDH  and hold targets 1710 – 1714 zone.

News Algos remain turned on so stay focused and take the best trade setups.

Good Trading…David

Habitude Six
I am at peace with uncertainty. I know there is no such thing as a sure thing. I have no particular need to be right. I understand that being perfect has no place in trading. I am flexible. I am willing to change my mind. I am alert to scenario changes. I accept the information that tells me I am on the right track or on the wrong track.

Leave a Reply