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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (1637)	12/1/1999 2:23:00 PM
From: Matthew L. Jones	Read Replies (2) \| Respond to of 7434

Patrick, I wondered why Intelligent Speculator and some others used the 45 minute charts. Seemed kind of weird to me. I assumed it was so they could get 1/9 of a day chart and then the 5 would be 1/9 of a 45 minute chart (better when comparing different time frames for confirmations). Now it makes sense. I wish I could find some good books on trading the S&P's. Particularly on system development (so as to know what most of the other traders are using) which would help me to anticipate crowd movement better. It seems to me (having looked at lots of charts on different time frames) that the only support or resistance points that seem to have much viability are the previous day's high and low, and the intraday high and low. I've looked at every possible MA on every possible time frame and have found no more than very minor support or resistance. Same for Bollinger bands which are really just a derivation of the MA's. Are there any other support and or resistance levels that you have found to be consistently honored? Thanks for the help. I appreciate it. Will keep you posted on the 45 minute statistical data. Matt