SPDR S&P 500 (SPY)

[Footquarters]

Hi Fox




Basically if they attack the 1378 ish area today, it will have to take out that area with volume. Basically, for daytrading, I use the 60 min chart with a MACD, slow stoch setting of 5,5, Volume indicator, which may appear different depending on which type of chart you use. In the SPY, or SPX their was a 170 million share buy or buy back yesterday between 1 and 3 o'clock, on the QQQQ there was 90 million share buy, when the fast line on the MACD appeared to be going over 0. Basically if the MACD is heading up at a 60 degree angle or better and there is volume, I never get it the way of that. That is what happened yesterday afternoon. I will be watching to see if when the stochs get to 80 level and the price gets to the 1378 level where we are there. It is important to watch the volume when or if we get there. Of course the trin and trinq will be telling, with the it being low with short burning or high if there is a lot of selling... Rugby eh? You guys are crazy...... In college, one of you challenged me to a fist fight..... I knew better, you would enjoy it..... LOL I walked away, rather ran away.... LOL Where are you from? Ireland?