PRE MARKET

So just as I left yesterday, the market decided to turn around and head higher. Oh well, just another data point indicating how the bulls control this market and how they buy each and every dip.

Market internals closed mixed while GOOG got back about $6 from its recently lost gains. AAPL closed green while the brokers closed mainly lower with the exception of MS.

The NAZ and the semis continued to lag and closed in the red but look to have some jig this morning as they try to play catch up.

If you look at the DJIA chart with the pivot points inserted, you can see the lows forming at the second level of support near 12,400, oscillation and indecision near initial support at 12,420 and the highs near resistance at 12,480. The only way to daytrade these indexes is with the pivot points up on all the major mkt indexes and watching the ones that are in play. More times than not its the DJIA/SPX combo.

I intend to sit here and make some money today trading the YM- the Pivot Point is 12,540 with support and resistance about 40 points below and 60 points above.