Wednesday, January 18, 2012 8:45:52 PM
Have gotten the official word...
That our groups site (CS), will shut down on the 27th. Many good technicians there and I've encouraged them to visit here to post their contributions. Some are bull, some are bear, but the knowledge gained from such objective analysis is what has kept most of us ahead of the casino crooks.
I'll have to re-post some charts to reiterate my viewpoint, and borrow a few from friends to illustrate.
The trend remains with the $SPX daily. Above the 7, upper BB unbroken, and yes overbought.
Fraileys $SPX 15min. It is what it is. 200 still intact.
Oddlots 10min SPY chart. He looked at 131.5 as n/t resistance, and with a possibility of running into major at 135. Support in the 128 area.
$SPX 5min. Notice the 60,3 sto still at top and strong. Signals an early scalp trade, but I'll use a 10min to keep me in the trade.
Hope I haven't oversimplified, but would have stayed in UPRO a while longer if business wouldn't keep me away from timing the trade. So...out and flat for now, will reassess tomorrow.
As an aside, $BDI down to 926 / PSLV down to offering price so might be a play there.
Regards and Good Trading,
ess
That our groups site (CS), will shut down on the 27th. Many good technicians there and I've encouraged them to visit here to post their contributions. Some are bull, some are bear, but the knowledge gained from such objective analysis is what has kept most of us ahead of the casino crooks.
I'll have to re-post some charts to reiterate my viewpoint, and borrow a few from friends to illustrate.
The trend remains with the $SPX daily. Above the 7, upper BB unbroken, and yes overbought.
Fraileys $SPX 15min. It is what it is. 200 still intact.
Oddlots 10min SPY chart. He looked at 131.5 as n/t resistance, and with a possibility of running into major at 135. Support in the 128 area.
$SPX 5min. Notice the 60,3 sto still at top and strong. Signals an early scalp trade, but I'll use a 10min to keep me in the trade.
Hope I haven't oversimplified, but would have stayed in UPRO a while longer if business wouldn't keep me away from timing the trade. So...out and flat for now, will reassess tomorrow.
As an aside, $BDI down to 926 / PSLV down to offering price so might be a play there.
Regards and Good Trading,
ess
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