• The areas marked by the red boxes are resistance areas, where we'd would take profits on long positions or establish a short position
• The areas marked by the blue boxes are support areas, where would take profits on short positions or establish a long position
• The yellow horizontal lines below the red box is our short entry point and the one above the red box is our stop loss point. We always take our loss at the stop loss to minimize losses
• The yellow horizontal lines above the blue box is our long entry point and the one below is our stop loss.  We always take our loss at the stop loss to minimize losses.
• Once our position is profitable we move our stop loss to lock in profits.

The Charts

9/2/2009: Index ETF support & resistance charts