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, September 12, 2012

SPX

The market is setup for a small drop tomorrow that will setup a bullish breakout day on Friday.
BUT BUT BUT if it moves above 1440, then expect a strong run up tomorrow.

Note that the FOMC Announcement is scheduled for 12:30pm New York time, then at 2pm there will be the FOMC forecast and press conference. A buy trigger can be placed just above 1440 (if not already above it) before the announcement (for daytraders). Also note that any daytrade before the announcement is aggressive because the market is very likely to be bouncing around in a tight range (flat) till the FOMC release.

SPX-DAILY II


SPX-DAILY I


SPX-30MIN II


SPX-30MIN I


SPX-5MIN
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