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Thursday, April 06, 2006

Timing Market Turns 5 - 04/06/2006

Market Timing - posted at 1342 EST

Swing trade - 100% long positions; stop for all positions to SPX 1298.

Investor core - 100% long positions; stop for all positions to SPX 1298.


The SPX is at important intraday support levels SPX 1305, below that at 1301-2. Daily resistance at SPX 1310 is the level that must be surpassed to maintain the upward daily trend - within 2 days from our trend parameters.

I was wrong about the tight range and lateral trading for today. SPX 1305 represents 55% retrace of the upward move beginning Tuesday. So that getting to 1301 and possibly to 1297-8 should not be a surprise. If SPX holds above 1300 by today's close, I will move up stops to 1300 with a close above 1304-5.


Time loci for Turns, 5 minute timeframe - 1355,1440,

More after 1430 EST

Good Trading and God bless

W. B. Busin

Posted by W. B. Busin at 4/06/2006 12:41:00 PM

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