Every freely-traded market makes a series of turning points during the day session of the regional stock market.  You don’t need to master complex cycle theories or pay to join some elite trading group in order to utilize daily turning points. I can teach you how to spot them with conventional technical analysis.

WEBINAR PREVIEW!

Be sure to check out my webinar tomorrow, Friday 11/4/11 at 1:15 pm PDT.  It’s sponsored by Ninja Trader and you can attend by logging on about 15 minutes before showtime at: www.ninjatrader.com > Webinars > Partner Introduction > 11/04 @ 4:15 PM EDT.  The topic is ELLIOTT WAVE – JUST THE ESSENTIALS.  Here is the promo pitch: Devotees of Elliott Wave Theory claim that it gives them an incomparable edge – that it is like having a “map to the market.”  But, many a trader has attempted to master EWT only to discard it in frustration because of its complexity and subjectivity.  “Mentor” Mike Bridges firmly believes that there is an objective reality to EWT and that traders who do not possess a basic understanding are at a definite disadvantage.  Join him as he demonstrates the essential elements of EWT that every trader should know using simple and familiar technical tools.

The best intraday time frame for spotting Elliott Waves.

Using moving averages to distinguish between impulse and corrective waves.

How the Parabolic SAR practically counts the waves for you.

The truth about EWT rules and guidelines.

Using the regression channel to determine when an EWT pattern is complete.

Learn tips and tricks from Mike’s many years’ experience not found anywhere else.

Scoreboard

ES: 6 wins / 0 losses

Chart Chat

Today’s turning points formed a HI-LO-HI with the first HI coming in the premarket and only the latter two points within the actual NYSE day session.  Have a great evening.  Be back tomorrow.

Please click on the chart below to make it larger.

Chart #1