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, May 10, 2011

review

Today's SPY with modified TICK.  The only substantial negative TICK was registered on a higher price low.  The Fib. projections are based off of the PDC measured to the days Open:


The trend is your friend.  The last two moves off the March lows (how many "March lows" have been bought since '08?) have retraced 50% before extending higher.  There's a confluence of Fibonacci projections/extensions at the $139.31 level and beyond that at $140.70-ish.

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