7 JUN 2010, Monday

 

• With volatility so high on a day-to-day level, the daily charts have become rather choppy.
• The longer term weekly chart above shows we're at a critical level.  Not many more pivot/congestion levels below where we are.  Small one in high 900's then next is 950's.
• There really isn't much for intermediate-term traders to do right now.  Sure wish there had been a cleaner way to get on this down move for longer term folks.  But it's just been suitable for trading with the volatility initiated by that Flash Crash.
• One day at a time.