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, December 5, 2011

SPX - LOOK FOR HIGHER PRICES AHEAD TILL 1285 -1290

If experience is any guide, it should be clear that the market is very volatile and things change very quickly. This means making long-term trades can be very painful with all the back-and-fill action that has taken place all year. If you were long or short the market (for a long-term trade) at the beginning of the year, you will still be in the same spot today.
This year has been flat but GREAT for trading with all the wild swings. To be a perma-bull or perma-bear (i.e buy-and-hold) is FOOLISH. DOESN'T MAKE ANY SENSE AT ALL (I don't care what some "guru" says). As easy as it is to buy, it's just as easy to sell then buy again in the reverse direction or sit out for the next opportunity if you only trade in one direction. So why be a perma-bull or perma-bear as oppose to an objective trader who just wants to profit from market swings.

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME
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