A typical lull-you-to-sleep market all day long, than BANG! If you caught the end-of-day move today, then good for you. It's soooo frustrating to suspect it might happen only to not be on board once it does...grrrr. Price came within a nickel of the highs, a 1.7% move within 10-minutes, WTF! Of course I wouldn't complain had I been in the move :)
I digress.popped right out of a consolidation range and sky-rocketed to the highs!Anyway...something to keep in mind when the market is chopping around all day. Look for stocks that are trending (scan for ADX > 30, with nice, orderly candles) and find a consolidation range to jump on board. Here were two nice ones, notice the "3 pushes" up; push, consolidate, push, consolidate, push:Well that last minute push in SPY put us right up against the 200-day Moving Average
and right at the top of our range...here's the weekly, looks solid doesn't it?
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.