Trade Strategy for 5.31.13 “Fight Club”

Successful 3-Day Cycle for the Bulls as they were able to penetrate the key 1653 level yesterday and hold, allowing a rally to the 1660 target.

In Globex trade “da bears” are now pushing price back to key 1640 level for a retest…It’s clearly a battle for dominance as this action reminds us of “Fight Club”. Bulls and Bear exchanging blows but neither have broken.

Today’s levels are familiar for this week…1638 – 40 remains key “line-in-sand” for Bulls. Upper level 1655 is key marker for upside penetration.

Good Trading…David

Habitude Four:
I am at ease with controlled risk. I will risk and I will win. I am courageous. I will take a chance. I manage risk to my comfort level. Risk keeps me on my toes, keeps me alert and at the top of my game.

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