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.

Monday, July 18, 2011

SPX-DAILY , SPX-30MIN , VIX , FXE(EURO) , UKX (FTSE)

Momentum is to the upside. Expect a strong run up to take place. Over the past few months (and as far back as March 2009 lows), the UP legs have been impulsive, smooth and steady while the DOWN legs have been corrective and choppy (like what is happening on now). This means that the UP legs are excellent for swingtrading while the DOWN legs are good for daytrading because of the constant back-and-fill while going nowhere and a nightmare for swingtraders because the mkt takes so much time doing nothing. The setup at the moment is bullish and a strong run up will take place.

SPX-DAILY

SPX-30MIN

VIX-DAILY

FXE(EURO)-DAILY

UKX(FTSE)-DAILY
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