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, December 29, 2011

SPX - READY TO RESUME THE DOWNSIDE TOMORROW.

Look for a drop tomorrow with a move below 1258. It could be a big drop. The only limiting factor for a big drop is the fact that there might not be many participants (low volume) given that it's a 3day-weekend and it's Friday. But keep in mind that low volume doesn't say much because there can be exaggerated moves on low volume. That is why I don't focus on volume unless at key points if at all.

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME
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