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.

Thursday, May 24, 2012

SPY retrace

The SPY held a 50% retrace of the most recent momentum.  While spending most of the day pulling back and consolidating, price extended higher into the close.
  The 5-min chart includes the after-market (indicated by blue dash vertical line) to show the follow-through.

No comments: