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.


Saturday, May 12, 2012

Fri 5_11

Just a look at the intraday Friday.  Strong pullback in a bearish trend after a momentum gap down.
QQQ held the previous day's low and managed to fill the 5/8 gap but faded back to previous value area

SPY - strong move into resistance faded

IWM - $79.50 resistance is key

DIA - clear resistance base being established in these indices

XLE - $68.50 base

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