Just for the sake of keeping a record of yesterday's rally I'm going to post some charts.
Most telling (to me) was the SPY 1-minute chart. With volume like that coming in a move was sure to follow.Later on we also saw a volume spike at the Highs of the day (HOD), with a very low volume retracement to base at resistance, not giving up much at all. Volume then surged and voila, rally!
Here's the Q's and the DIA, which both reflect the same story:
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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