Its a magic Monday in the USA but wet as hell in the UK

Trading is all about patience and good information.  Today we used both.  The markets were sketchy to say the least with the UK closed and the European markets not having a lot of volume at all at the moment.  It is also a semi-holiday season in Europe so ... we have to expect the markets to do some odd things before the USA opens.  Today the ES/NQ and YM all went up quite significantly before the USA opened for business. 

Then the USA opened and we saw the rise continue for a short while before the market dumped.  We managed to take over 20 points on the NQ (see the full market replay below) on a small bounce, but it was clear the market had minimal momentum.  Then all the US markets started to reverse - the question was how far?  This is where the 10 minutes work we always put in to define our daily support levels really comes into play.  Look at the image above - the arrow is pointing to the edge of the  daily "buffer zone".  In this case this is where the daily support is expected to kick in.  And look at how accurate those numbers were.  Within 4 points on the NQ.

What happens next?  Well, this blog is being written before market close but we are already 48 points higher on the NQ since we hit the buffer zone and started looking for long trades.  The accuracy of the Inteligex zone has to be seen to be believed. 

Which brings me to rant of the day.  When we can figure out the market turning points so quickly and accurately, how come the weather forecasters are so useless?  We were supposed to have sun here for the weekend.  What did we get?  Freezing cold and rain.  Pathetic.