The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Wednesday, October 29, 2008

hmmm

We sold off something like 300 points on the Dow in the last 15 minutes of the day. Check out these two charts of the Dow Jones Industrial Average and the S & P 500, notice the similarities in the two? In the past 2 1/2 weeks we've had two enormous rallies that were followed by bearish looking "consolidation" down day candles. We're still stuck in a range and we're not getting the conviction follow-through from these +800-point rallies.