A choppy day for the SPY. With such a sizable gap down it was curious that we didn't get any strong "buy the dip" hands coming in at the lows , but today's volume was pathetic.
SPY basically chopped around my Support pivot all day long. When we finally did close the gap a TICK divergence hinted at possible selling.SPY always gets choppy when these moving averages cross over.
Still going to watch the setups I listed over the weekend. LZ $72 may be a mover.
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.