SPY monthly finished 15-cents under a 50% retracement of the monthly high/low range. Momentum is waning and the 3/10macd slow line is approaching zero.
Weekly SPY - anything under $140 in the near term brings to mind the concept of "from failed moves come fast moves".
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.