A long and busy day today. Started off strongly in the red, but worked my way green by the end of the day with some great setups (that I sold too soon) from my watchlist that I posted over the weekend.
Anyway, the SPY closed at new '09 highs. The curious thing is that the upward momentum is waning, but at the same time flagging.
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While on a shorter time frame the same momentum indicator looks like it may be setting up for an upward move.
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This morning's session gaped down strong before forming a choppy flag. Price was able to rally back to the PDC (previous Day's Close) where it met with resistance for most of the afternoon.
My support pivot held incredibly well today, as price chopped between support pivot and PDC before breaking higher on lackluster momentum.
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We need some volume come into this base break from here on the SPY
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I made so many trades today and I'm not about to document them all, but today's theme would have to be the "Holy Grail" setup (for more Holy Grail info
check it out here). Two of which were particularly choice were FLIR and AMCC (listed from my watchlist this weekend).
Notice the fuel (volume) feeding the fire (price) at key levels. Awesome volume going into the close, keep an eye on it tomorrow.
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I'll post more later....time for XLF to move it or lose it!
2 comments:
AWESOME AMCC enrty!!!!!
stewie.
Good Times!!
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