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, January 23, 2014

01_23

Overall, just a minor correction.  The DIA and SPY higher time frames had what could have been considered sell triggers and hit their initial/first target.  While the QQQ and IWM didn't have what I would consider a short trigger entry.
Came close to hitting a secondary target but had a decent bounce at the 50-day MA
 IWM had decent downside momentum but held support.  So we'll have to wait to see if it pulls back and continues lower (hourly fast line ticking back down lower) or just blasts higher (fast line going green for a buy)
 QQQ pretty much the same story as the IWM

 IYT an index worth watching.  It continues to plow higher, could be a good "tell" for the other indices.

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