Live PL Dot

[Trader Question]

This is great I'm "Living" the "Live" PLDot.

I started to use the PLDot and found we were generally and many times have hit the "static" PLDot (especially the Daily & Weekly) in the past. So I haven't been paying attention to the "Live" Dot. Now I know where it fits in in the proper prospective - at the end of a Trend Run

I was in a quandry after Friday - did we or din't we have an Exhaust - we didn't reach the Static PLDot and on Monday I was waiting and anticipating the S&P to go lower. But by putting the "Live" PLDot into the analysis mix helps a bunch - it gives me a "range" , that allows me to have a more definitive judgement on what to have expected on Monday.

Also the Analysis of Monday's activity is clearer to me by using the "Live" PLDot for the Weekly - again we "refreshed" within the "range" of the "Static" & "Live" weekly pldot so it gives me a heads up and another option on what to expect on Tuesday - that being not having to wait until the S&P hits the static PLDot - but having reached the "Live" PLDot is good enough to start thinking about reversing and looking for short positions.

D.M.

[pldot]

Live dot is very useful and important in a trend, when the retracement may only hit the livedot-static dot area, as well as towards the latter part of the week/day/month etc, when the next period's on-coming dot takes on more significance. On Friday, foe example, next week's dot is very relevant...

Graphically this is very clear on the TS software...

[Trader Question]

Monday Close 902

Wednesdays Estimated High's & Lows (Nearby & Further Out Ranges)

Daily - ET & 1-1 Hi 908 (Nearby) - EB & 5/9 890 (Nearby) 908 to 898-890

Weekly - PLDot Crest 923 - PlDot 915 - To EB 892(Nearby) - 5/1&5/2 880, 1-1 Low 875, 5/9 816 (Further Out) 915 - 892 to 880-875,816

Monthly - 1-1 Hi 961(Further Out), ET 932 (Nearby) to PlDot 872 (Nearby) 961-932 to 872

Down Senario
The Mkts Exhaust at the Static/"Live" Weekly PLDot 915 Level resulted in a refresh on Tuesday close to the Daily PLDot area at 898 with an intrday low of 900. Wednesday the mkt probably will continue its refresh to the Daily PLDot 899 and then the Weekly EB at 902 & Daily EB 890. At the 890 level there is support at the EB 890, 5/9 889, Monthly 1-1 lo 888, and Weekly EB 892. Also there is a Dotted Line formed at 884 from Monday's Congestion Entrance up.

Up Senario
Its possible that the mkt may find support at the 899 - 900 level and begin to feel the influence of the Daily PLDot push at 899 and "Live" Monthly PLDot 894.50 and move back up to the Daily ET 908 and the Live Quarterly EB at 910 & then Weekly PLDot 915.

D.M.

[pldot]

OK... your analysis should also indicate if daily support or resistance is predicted to be strong or weak. In this case, support was anticipated t be weak, etc...

[Trader Question]

I feel its coming together for me - knowing where I am in the mkt - I'll get more into that a bit later , I have an analogy on how P&L works that works for me - Last night it came together for me because of the price action in that we refreshed to the Daily PLDot but didn't go thru it. And - I'll admit today was one of the easier calls - But it was real clear as I wrote in my analysis - that you should short the 896-897 level and go long at the 888-890 level and here we are up at 895 - also "Mentally" or is it "Emotionally" I'm content to sit and hold my positions today for $4.00, then $3.00, then $6.00 and currently $3.00

Its really neat what confidence in your system can do for you in your trading and Day trading at that.

D.M.

[pldot]

Am pleased that you are able to take larger bites out of the move, that is real progress.

[Trader Question]

Wild day - do you think this is volatility at the bottom of a market - we still have that refresh to the Monthly PLDot 872 -??? I don't think this has anything to do with the Quarterlyor yearly stuff - although we are pretty close to the end of both.

D.M.

[pldot]

==and why not?

[Trader Question]

Or perhaps its just yearend portfolio adjustments by the Mutual funds and Tax selling by individuals??

D.M.

[pldot]

==forget about that kind of info, not particularly useful. Might be true, might not. Just words.