LOOK OVER HERE

The markets have shrugged off the news from Iran and are trading higher on the Fed/EMPLOYMENT news, well I really don't know that for sure and neither does anyone else but that appears to be the case.

And while the SPY Pivot never was hit the DIA pivot was and I bought and I sold and I am still hanging on to some with my stop back at break even.

And for those looking for some kind of technique or daytrading methodology, John Carter spells out a nice one in his book mentioned yesterday:

Buy a bit above the Pivot Point if you think the mkt is in uptrend with a target of twenty cents and a stop of thirty cents.

Short a bit below the Pivot Point if you think the mkt is in a downtrend with the same targets as above.

The best tell to which way the market is going? Market internals and Brokers and note this morning the NYSE internals never gave it back as the markets pulled back.

Also note the continued trashing of the Volatility indexes. I am pretty sure I will be closing out my longer term ETF longs into any afternoon ramp.