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.

Friday, October 9, 2009

Fri. 10_09

We consolidated the most recent impulse move (Tues. & Thur. gap up) within a tight sideways range, closing at the highs of the day. Impulse followed by a tight narrow range consolidation gives us a chance to get ready for further impulse (it's just a matter of getting the direction and timing correct).
Look at this market profile; if there is some mystical force out there (GS) trying to keep this market afloat it looks as though all you do is continue to gap the market higher and buy any sign of weakness. These tight, fat bodies just show "value" being accepted at higher levels still.Here's the intra-day activity in the very slow and sideways range with "the TICK Molestor" divergences:Here's an up-close and personal view of the 15-min chart:The 30-min momentum oscillator is hinting at preparation for another upward push:
Looking for a potential breach on Monday of the overhead resistance:And here is my wish list for this time next Monday:


Richard said...

Note that the TICK molester rarely got above 500ish all day. Very lackluster breadth today. Yet, the divergences were still very useful information.

todd said...

Yes, yes, yes! Love it, love it, love it!!
Thanks Richard!