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

Friday, February 6, 2009

Qs leading the way

A trend day to the upside today (not very convincing volume) left a lot of Daily charts at key points of resistance; which means, be ready for anything. The Q's gapped up to the previous day highs (buy a break of PDH) and continued to run up to R1, where we chopped between R1 and vwap for half the morning. All-in-all price seemed choppy but just drifted up all day long, having a brief retracement later in the afternoon to re-test vwap before closing at the highs (and the beginning of the year's highs).Where we stand since the beginning of the year.If we break above these highs Monday we have a little room to run before a test of resistance;
Q's (the leader of the pack) break $32 look to $34 resistance.
SPY has direct overhead resistance with the Daily 50-EMA, a break of $88 look to $93
DIA, ditto with the daily 50-EMA, a break of $84 looking to $90IWM, closer to overhead resistance at the Daily 50-EMA, a break of $47.50 leads a path to $51.Was watching NFLX today for continuation. Instead it set up a good short opportunity to the previous day's lows before turning around back to the open price.

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