[ammo]

i stopped using mrkt profil in 91 when i left the floor,the es daily range then was 3 points, s&ps around 245-250,i, recentley returned and found it much harder to use,one thing that still works is the wide spot,i used to call it the nipple, on major selloffs where you have a chart of the previous daily nips in front of u,the market uses those as magnets or temp support,say thurs day nip was 1320, fri nip 1346,monday nip 1364,tue1380, then wed opens at 1400 and begins to sell off,it'll stop at 1380 and bounce , not big if it's a trend day',if it keeps falling it,ll stop next at 1364. then tommorrow if dtrend continues it,ll stop at 1320 and so on. If there was a double distributionday or 2 nips then the cleavage btween the 2 also acts like a nip. i still hand chart it in one point increments just so i know where those nips are, .there is a trend day i would guess 3 times a month and it is very useful,those are my most profitable days ,i trade with a lot of confidence bcuz of those nips