Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Tuesday, December 6, 2011
1. Market Commentary
WEEKLY chart for your review below of the mini SP500.
Note that the level we closed today, around the 1257 area is an important level.
I currently have mixed views of the market when it comes to longer term time frames, hence I am not taking any trades other than day-trades.
Sometimes, as many of you know, the hardest part in trading is to be patient but once you conquer the impulse to trade simply because “you did not have any trades recently” or you feel like “you are not doing your job if you are not in a trade” – when that happens, I believe your winning percentage will increase.