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, November 14, 2011

SPX -- (charts look bullish for the rest of the week).

SPX in lalaland but strong run is going to take place likely starting tomorrow with a trade above 1255. Look for it to pick up speed to the upside when it moves above 1278. Gap open above 1255 tomorrow is a buy opportunity or a 30min bar close above 1255 with confirmation (for conservative traders). Aggressive traders can buy with any move above 1255. Tomorrow is looking like it is going to be big UP day with follow through on Wednesday. The week looks like it's going to be a very bullish one.

NOTE: Swingtrading a 30min chart is different from swingtrading a Daily or Weekly chart. The decision can only be made by the trader depending on how aggressive there want to be. The 30min chart requires more entries and exits. So if you use the Daily for trading, there are times whereby there will be tradeable swings on the 30min chart that means nothing to the Daily (like today). I try to trade every swing of the 30min chart but knowing exactly what the big picture (Daily) is saying.

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME
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