Stock, Option and Futures Trading
A couple of days ago we posted that the DOW was at the symmetry support at the 11,600 area and that low could hold back up to the 12k level. We are sitting at the 12k level now with a few timing things we should look at.
From the low we are 61 bars up and from the high we are 126 bars across. Those are very close to 62 and 127. This could be a major turning point or just a turning point to get the DOW back down to the 11,858 or 11,790. If The 11,858 area holds then we would think the 12k high is take out.
Either way right here the long trade might be running out of gas.
Note: The time/ price resistance is only a 15 minute chart so it might not be that major.
PS> We are out of AAPL for a quick trade for a nice profit making back the loss on the AAPL 415 calls we did a few days ago.