Here's what I'll be watching tomorrow:
RIMM looks to be setting up nicely here.XLE testing an upward base. Be on guard for a momentum divergence. Price has come pretty far pretty fast and left some untested ground beneath it in the form of that gap up.
XLF; that upward trend has been pretty steep (at least it tested Tuesday's gap for buyers, unlike XLE) . Looking for a blow-off momentum thrust upward. Keep an eye out for a momentum divergence to bring prices back to the 20-EMA (on the 30-min chart below).
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.