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, October 20, 2011

SPX & TBT (Ultrashort 20yr Treasury)

This is decision time for the market. We are very likely to see a decisive move one way or the other tomorrow (or Monday). There is no more room for the market to hide in its high base consolidation Diamond Pattern. The breakout is in favor of the bulls at the moment, but be ready for a big move in any direction.

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME

TBT(ultrashort 20yr Treasury)-DAILY
Tends to move in the same direction with the market as oppose to the TLT (20yr Bond) which moves opposite to the TBT and tends to move opposite to the mkt. Can also use this chart to make decisions with the TLT.