Going into the open, provided there is a decent amount of pre-market activity, I like to keep my charts/indicators loaded with that pre-market activity. Here is what the SPY looked like going into the open; giving two short entries (4d-to-4c continuation; one before the market opened) and two long entries (based off of the 3d setup). Price is still running higher (last check was at $129.3).
Compare that to what it looks like without the pre-market
Just throwing in a chart of the SPY with breadth...A/D line was solidly bearish throughout the day, but it would seem shorts don't want to push their positions.
Higher time frame look....support held, though downward momentum was quite strong. Monday the markets are closed and Friday is Opex, should make it interesting (or really uneventful)
NFLX at the open this morning provided a continuation move (1b-to-1a)
below the left-hand chart is a 2-minute
FAS was a quick trade that should have been held longer
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.