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, February 27, 2012

SPX

Strong Pending Home Sales and Dallas Fed Manufacturing Survey data halted any idea by the bears to keep the market down today. Though the market is set for a reversal, strong economic data cannot be ignored by the market (what will be the point?). But any not-so-strong data will be used as a catalyst for a fast reversal (short- or long-term). This week is loaded with important economic reports.
I expect a fast reversal of the SPX to 1270 for the next swing.

(Sorry for the late post. Was not available on time to review the charts.)

SPX-DAILY LINE

SPX-DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME
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