A trend day up; can't say I was necessarily expecting that. SPY gapped up to R1 and just fiddled around for a while before closing above R1 close to an hour into the day. Meanwhile TICK stayed decisively positive and the Adv/Decl numbers were biased towards the Advancing issues.R2 put up a good resistance barrier at the end of the day there before getting a little pop.
The pullback on the Daily chart sure looks nice; and makes a good argument for making an advance to the 200MA.MOS didn't get quite the move I was looking for on the break of $54.50.
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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