Intraday Swing Chart for 5/17/2011
8:05:04 AM CST
The swing points are 1335.00 and 2349.75 in the NQ. The Morning Call has been updated.8:21:23 AM CST
On a rally from the long term swing point trade zone of 1319.25 look for the new swing point on the day at 1328.75.8:34:49 AM CST
The swing points are now 1328.75 and 2338.75 in the NQ.9:21:58 AM CST
On a break from the 2336.50 swing point trade zone, look for 2318.25, above it turns the day positive, look for 2346.00.9:27:57 AM CST
The SP must stay below the 1328.75 swing point to remain negative, look for a test of the low, taking it out after holding the 1319.25 long term swing point will turn it very positive.10:04:08 AM CST
The SP and NQ need to make new lows on this break to keep the market very negative, no new lows, look for a rally up to the swing points again.10:11:30 AM CST
On a rally from the 2318.25 level in the NQ look for the new swing point at 2334.25, below it 2308.00.10:18:09 AM CST
Continue to use the 1319.25 long term swing point like a 1×1 angle as mentioned in the Morning Call, below it is very negative, above can still cause a good rally, the swing point is now 1328.25.10:23:51 AM CST
The 1328.75 short in the SP has been closed to add the new swing point at 1328.25.10:49:42 AM CST
The swing point in the SP is down to 1326.00.11:49:33 AM CST
On a break from the 2334.25 swing point in the NQ look for new lows, above turns the day positive, look for 2344.25.1:10:35 PM CST
The SP must stay below their 1326.00 swing point to remain negative, look for 1318.75, above it 1334.25.
Intraday Swing Charts
