Wow.

I know you can't read this in detail. And you shouldn't.

It really amazes me some of the trash I find floating around through blogs and twitter.

If anyone honestly thinks this a legit chart , I would love to hear about it.

I'm getting a headache just looking at this.

I trade with a few things: VWAP, s1 2, r 1 ,2 (soon to be hamzei analytics indicators tagged in as well), but I really believe in simplicity.

My screen does have 6 charts usually: Qs, USO, XLF, ES/NQ, equity im trying trade , sometimes tick, and maybe another equity in the same category (UAUA + DAL+ AMR)

I traded small position of AMR today. The chart above shows my entry and exit. I am playing extremely defensive as I am looking for solid overall market direction. I am not convinced the market is strongly in either direction. I read permabull and bear blogs to keep a healthy balance of fear and greed.

The Qs (premarket) appeared to be poised to the downside. However, it came out the leader in the market. The SPY spent the day on the downside as the sellers crushed it.

I see the 34.50 -34.75 as a key level of resistance for the Qs. It is the mark I am looking at. If I see volume and short squeeze, I might jump in on a Qs play (1,000) shares for a short term play. If not I see support coming at 33.80~

For support on the SPY, 90 dollar is going to be the first battleground if the downside movement continues. 88 dollars will be the true test if sellers can really take the upper hand. I think if SPY is going to continue movement to the upside it will have to test and pass through 91.50.

Tomrrow should be an interesting day.

R