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 toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Tuesday, October 14, 2008

what's next?

The indexes have retraced approximately to their 38.2% from their lows on Friday to today's high's (or, in line with their 50-EMA on the 15-minute charts). Do we push any higher tomorrow? Do we test the 50% retracement? Do we dive lower? Is a double bottom in the cards?
The DJIAThe S&P500The Nasdaq Composite

2 comments:

Trader M.D. said...

PPI, Retail Sales, WFC earnings, JPM earnings ahead of the bell tomorrow (among others) and despite inline/slight beat by INTC after hours, we're about 1% lower on the futures. Things probably look to be news driven the next few weeks.

Incredibly we have OpEx on Fri, which in theory should *increase* volatility ? lol :)

nice Trade on the QLD Monday. The moving averages it came back to retest closely followed the days VWAP.

todd said...

I hear ya....and we can sure use some added volatility at the end of the week ;)