Two quick updates to previous posts regarding the SPY.
First the obvious; Price continues to squeeze higher but has yet to tag the Fib. projections that I drew out in this post.
Meanwhile, the follow-up to this post regarding the higher time frame 3d setup that triggered on Aug. 23 came within 45-cents today of tagging the first target, the 50% Fib. projection. Price seems to be struggling to move higher at this point and as such a pullback wouldn't be surprising.
Reached the 50% projection of the intermediate seed wave:
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 firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.