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, July 26, 2010

SPY midpoint

The SPY is exactly half way between the April 2010 highs (give or take a few pennies) and the June 2010 lows (+/- a few pennies), and 0.72% down on the year so far. Amazing that it has taken 45-days from high to low and only 16-days from low to midpoint. While it took 10-days from midpoint to lows.
Possible bearish scenario is the overhead 200-SMA with a bearish Wolfe Wave setting up

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