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.


Tuesday, September 15, 2009

XLF

This sector looks tired and ready to roll over perhaps. Possible Head and Shoulders pattern with the neckline 5% away.Here's XLF vs. SPY. The financial sector and the S&P have nearly mirrored each other the entire way. Today the SPY registered a new closing high while the financial sector (XLF) pinged the highs and closed lower.Not to mention the tweezer candles on the daily chart:
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1 comment:

Spencer said...

Nice chart. Ticker posted his XLF analysis this afternoon http://thetickerstreet.blogspot.com/

September 15, 2009 at 9:21 PM

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