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.

Monday, August 3, 2009

Manic Monday

Ugly tape that just keeps grinding higher. Amazing that we just can't seem to get any sort of wash-out correction. Oh well, we get what we get, and with the dollar getting a drubbing equities prices benefit:
A noise filled day, but prices just trended up the 20-EMA (15-min chart).My Resistance envelope instead acted as Support (Red horizontal line) in today's SPY. Every higher low was bought:

Well, as much as it looks like there's A LOT of supply at $77 on RIMM, it doesn't go very far before demand is picked up. The red horizontal line is the daily pivot resistance. Watching RIMM for a break out. But will certainly react to a break down ;)

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