Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST. In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Friday, May 20, 2011

SPX, FXE (EURO), AAPL, OXY (LOOK FOR THE MARKET TO RALLY NEXT WEEK)

My focus next week will be on SPX, FXE(Euro), AAPL and OXY.
The market looks ready to run up next week (especially on Tuesday). On Monday, I see a decent gap up to start and then a pullback. But I see a big day on Tuesday which starts with a big gap up. You want to hold long (Call) positions going into Tuesday.
If my expectation for Monday is met, I will post a comment 30-45mins before the close. So for now take it for what it's worth.




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