All you can say about this market is that it's just plain silly. Are we seriously just going to gap our way back up to '07 levels and beyond? They could have at least gaped it beyond the '09 highs!
At any rate, we're basing around our highs, and the SPY this morning put in a slight bearish momentum divergence, which told me to remain bearish-leaning until proven wrong.The sell-off just barely filled the gap before turning around to close nearly at the open.
Here's the 1-min with TICK (molestor). Some hidden divergence, some bearish divergence, some bullish divergence, gotta love it!
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.