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.


Friday, September 16, 2011

Two updated charts from previous posts
The SPY from this post; 50-day MA test looming as price pushes into this resistance zone.  Still has the complex H&S pattern on waning momentum.  However, this market has resolved those issues in the past by gaping over the resistance and squeezing higher.  So, a gap above the 50-day MA could just cause a squeeze educed rally so be prepared for the irrational.

and the SMH from this post.  Pushes higher and the air is looking thin up there with a doji followed by a shooting star/inverted hammer and closing under a resistance level.  It certainly could withstand a pullback and be in a good position for dip buying.

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