All this congestion at this area tells me two things:
1) It's a good place to sell. (duh)
2) If Dow 20k does happen, it will blow through it w/ tremendous force.
Makes the day trader's job easier knowing where the stops are and where risk lies. I'll remain aggressive w/ the short plays while taking calculated risks on the buy scalps in hopes for runners. The recently completed H&S will be my guiding light until that's taken out.
1) It's a good place to sell. (duh)
2) If Dow 20k does happen, it will blow through it w/ tremendous force.
Makes the day trader's job easier knowing where the stops are and where risk lies. I'll remain aggressive w/ the short plays while taking calculated risks on the buy scalps in hopes for runners. The recently completed H&S will be my guiding light until that's taken out.
