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.

Tuesday, November 30, 2010

month end

Monthly charts are complete.

DIA - having trouble at the 61.8%, somewhat bearish here

SPY - most bearish looking of the bunch (imo), shooting star candle that dinged the 61.8%.

QQQQ -strong, and nearly a 100% retrace of the entire '07-'08 selloff.  While a stab at $55 looks possible, a pullback (early next year?) would be healthy

IWM - a retest of the 78.6% retracement (inverse H&S look to it) the only issue that closed green on the month

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