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.

Sunday, September 23, 2012

OUTLOOK FOR THE WEEK

I expect the market to drift lower to 1440-1438 before an upside breakout on Thursday (or Friday) that will take price to 1500 very fast.
It will likely get to 1440-1438 on Tuesday (or Monday), followed by choppy good-for-daytrading sideways move that will setup the breakout.

NOTE:
If SPX moves above 1475 (or 1470 - aggressive), then expect a run up to 1500 regardless of the information above.
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