The Nasdaq looks itching to fill the gap left from October '08.Nothing too bearish looking in the S&P500 chartDitto for the Dow
And the Russell2000 has been on fire (we are currently in a purely speculative environment after all).
Treasuries fell out of bed this weekGold corrected today, to end the week down, giving the chart some dark-cloud cover
The Dollar rallied these past three days, ending the week green. Perhaps a rally in the cards? There's a confluence of moving averages clustering around each other, while price put in a slightly higher low and momentum put in a lower low, which has good potential for a "Slingshot" setup.Should the Dollar rally from here it could portend a correction in Oil, as it ended it's 3rd consecutive up-week, while printing a spinning top/doji star.
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.