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, November 10, 2009

SPY base break

Look what happened these past two days at 4:15p.m. (EST) on the SPYCurrently SPY is at $110.05 (new '09 highs) and appears to have broken the base that we all of a sudden formed at prior support (a.k.a. "Lehman-Gap")
Ingredients for a blow-off top? Remember, "Trends end in a climax."
It will be an important day to see how the market closes tomorrow to perhaps determine if this rally goes parabolic, or runs out of gas. For some perspective, look at the Q's:
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