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.

Thursday, May 19, 2011

SPX LOOKING GOOD (AND COMMENT ON EURO AND DOLLAR)


I really like what I see on FXE (Euro) and UUP (Dollar) charts. But at this time, they are not at my sweet spots yet. FXE looks very tempting to go long and short UUP here(and has been for a few days). Adding to this temptation is the fact that SPX has a bullish move going. But making a decision to buy at this point will be emotional rather than rational/technical. Will keep monitoring for entry/posting.

NOTE: SPX, Euro and Dollar are very helpful confirmations to each other in making decisions that are inconclusive by looking just one of them.