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.

Wednesday, June 24, 2009

Fed day

Interesting day, and the charts tell the story why I choose to stay away from Fed day after 2pm (EST). On the SPY $91 was resistance and $90 turned out to be support.We closed above the 200- & 50- Moving averages and as it stands put in a higher low in through this correction, giving us an indecisive doji right on top of the moving averages, while momentum is turning up.

No comments: