Gap nearly above previous day, "news driven" momentum, all erased by the close.
Pretty decent negative TICK compared to what we've been seeing.
A key for the above chart to define the horizontal lines and dots. For further explanation, see this link:
Advance/Decline came back to the zero-line.
15m &5m with 3/10macd. 2c-2d criteria into the Open, also anticipated around noon, except price rolled-over.
Two more views of the SPY;
zoomed-out of the above chart:
A 30-minute chart which was posted last week. "BD" = BreakDown, "T2R" = Tried to Recover. Black moving average is the 10-day, green moving average is the 20-day MA.
Below is the Daily with 130-minute. So far a failed attempt to continue the trend progression. Daily showing 2c-2d criteria (though the "higher" momentum reading as seen through the fast line is happening under negative price development, and a fresh momentum low followed by price weakness isn't very positive). It looked like the faster time frame was setting up to go higher, but price couldn't overcome the $145.50 breakdown point.
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.
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