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, March 26, 2012

SPX

As the market continues its never ending push up, I expect a fast and big reversal to take place. But that said, you can't fight the market but go along with it. Fast plays is the way to go. To be completely bullish or bearish at this time is mistake in my opinion. I don't believe in overbought and oversold. The market can keep going up for a very long time regardless of what the technicals say. This is not because of "manipulation" but just the normal irrationality of the market.
Daytrading remains the best option to avoid any surprises (which is going to happen). So pay attention to my 5min chart.

SPX-DAILY LINE

SPX-DAILY I

SPX-DAILY II

SPX-30MIN LONGER TIMEFRAME

SPX-5MIN
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