The video on the 5 min was great....I started using this along with the tick chart and it has really helped in the last week or so.  I would like to make a comment about the learning experience here for the "newbies":

I have been on this site for maybe 6 or so months.  I have a day job, but have acess to and play the markets (mainly the system trades) each day.  It has been a learning experience all along.  From ravun's wedges to the daily reistance, great daily updates and weekend updates, watchlist, blog, etc.  It is ALOT for my little brain, alot to learn and sock up.  If you are anything like me, DO NOT expect to do it overnight.  I have lost money doing stupid things and being too emotinal along the way, but I am getting much better OVER TIME.  It really does start to click after awhile.....but the key is after awhile of listening, leraning, and doing.

Example was yesterday and watching the wedge develop, pos divergence etc. I did what I do not usually do, got out of my FAZ/SRS trades and went into FAS/URE prior to a cross just at the bottom yesterday (I have a little different system then Matt's so my crosses don't match the ones on the blog).  It was a great trade to begin with, I was up 11% on FAZ but had I waited for the cross down (which won't happen till this morning probably and my systen holds overnight) I would have lost most of the trade.  Instead I took what I learned, was patient and made a good move.  Now, in the past, the move would have been made based on inexperience and fear/greed (usually fear).  Yesterdays gains were based on some experience (not nearly enough to call myself a trader yet) and the listening and learning I do every day with this site.

Thanks to all that post and Matt/Steve for their hard work,

steve

PS:  I have not looked at todays update yet so Matt might have mentioned this but....my calculation of the wedge break shows S&P going into the 905ish area.  Be carful though as this is a downtrend it might not make it.  "Watch that 5 min chart".  I may be right, I may be wrong, but the above statement is based on experience on this site; I wouldn't have had a clue 6 months ago!

PSS: Trying to do two jobs is difficult, trade and your regular day job...be careful that you do your day job first cause this should be your real bread and butter.  I have lost money not being able to make a trade cause of a meeting or something but I keep the trades small and manageable.  I would like to do this full time someday but right now I can tell you I could not make a living at this, someday maybe, but for now I need my day job!