Eventually we'll have a rally, right?
The Dow and S&P closed under monthly levels not seen since 1997. Nasdaq is holding on though, but looks to want to test those '02 lows.
There was nothing of interest for me today, as the tape was an utter mess. There was a similar play on FCX that was along the same methodology from yesterday's post. March should certainly come in like a lion come Monday.
Here are the monthly charts:
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
I am always open to questions, comments, or suggestions on how to improve this blog.