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, July 29, 2010
just a chart
SPY still in an up trend (purple line). Most recently, support has turned resistance.
I don't see much upside from here. I am looking at a long slide south. I am 96% out of the market on my 401K just to wait for a lower demand level to get back in.
2 comments:
I don't see much upside from here. I am looking at a long slide south. I am 96% out of the market on my 401K just to wait for a lower demand level to get back in.
Seems a lot of folks are looking to buy a gap down in the a.m. Then, if that doesn't take us higher we may get a good flush
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