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.

Wednesday, January 18, 2012

SPX - JUST CAN'T FIGHT THE MARKET

While my indicators keep pointing to weakness and a reversal, the market has proven to be a force to be reckoned with. Though I still expect a strong reversal downward, I will just keep tracking till the ship finally makes the turn. Just can't fight the market for it is ALWAYS right. But I believe this grind up is a bull trap.

SPX-DAILY LINE

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME
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