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, October 21, 2012

SPX WEEKEND REVIEW

Sorry again for posting so late this weekend and all of last week. Has been a crazy week (and weekend). Just been too busy. Was not able to do more than one review of my charts this weekend, hence the reason for posting now. Was also not able to look at other charts except SPX.
I will do much better this week.

FOR MONDAY:
I believe we will see a Hammer candlestick day. That is, we will see a drop in the first half of the day then a reversal up in the second half of the day to close with a small down day (Hammer) on the SPX. So Monday will be a reversal day for a bullish move up to 1464 in a few days.
Currently at 1433.10, look for a drop to 1425-1424 before a bounce to close the day at 1429ish (that continues higher on Tuesday).
NOTE:
Key levels are 1436 and 1432. Base on the 5min chart, make sure you are bullish if price is >1436 with confirmation or bearish if price is <1432 with confirmation. But also look for bullish opportunity at 1425-1424.

SPX-MONTHLY


SPX-WEEKLY


SPX-DAILY V


SPX-DAILY IV


SPX-DAILY III


SPX-DAILY II


SPX-30MIN II


SPX-30MIN I


SPX-5MIN
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