well to be totally involved one has to be able to think "Short" sometimes ...if you only play "long" then you have to really be aware of those support levels . Then there's always what we call "sector rotation" when market has been trending up & they look for other sectors to buy into & run up , which have been lagging . They're always looking to make a buck , so rinse wash & repeat ..run something else up
catching the trend or the trend is your friend but takes alot of study & awareness of whats going on in all the different sectors . Knowing the market whole as a composite of many many sectors is really an important thing , & watch them daily .
Here's one of the important ones to watch is good old Goldman Sachs
over in the financial sector, they're into everything!!...
see what Goldman (GS) does here off this "test" of the 50day simple moving
average (the blue line ) here @$165 noticed it bounced there b4 off the 50ma , but better spot would be to look down to $155 as support which is the aug, sept , oct highs too. Thats very "long-term" strong support ...see the line u could draw there at $155? ? Patience is a key ...