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.


Thursday, June 18, 2009

slow day Thurs.

OPEX tomorrow, so the chop was to be expected today, especially after this week's move.
Not much to say about today. $92.50 looks like a big area of resistance on the SPY; either pop or drop from here.A move up from here could show resistance at $93.25, or we could see a test of the 200-MA again just to check the supply/demand.I mentioned yesterday TBT was worth watching. It gapped up today, retraced slightly, returned to the opening price where volume came in to buy (yellow plots above the candles). $55 provided support before continuing.
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