Thursday, March 3, 2011

Support and Resistance

My current broker Thinkorswim has a MyTrade feature that is pretty cool and lets you go over comments from other traders during the day. Just like Twitter, you can follow other traders during the day. One of them (ShadowTrader) publishes his support and resistance points every day. Today, his line on /ES were almost spot on. Have a look!




And his lines for DIA, SPY, IWM and QQQQ (in that order) were not bad either.








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