SPDR S&P 500 (SPY): Gleno, I think the time of when the patt...

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learningboutinv

Re: GLENO34 post# 53684

Wednesday, 06/25/2008 3:01:12 PM

Wednesday, June 25, 2008 3:01:12 PM

Gleno, I think the time of when the pattern occurs is suppose to be @ 14:15 (FOMC announcenment) - 14:30ish give or take a few mins so that the end of the reversal of the reversal is complete. From then on out you wait near the close of day/bell to figure out where to position yourself for tomorrow.

If you look at the 1min chart. Notice the blue bar @ 14:15, and notice it went UP, Down til about 14:30 and @ ~14:37 completed the UP pattern. Now we wait and see for the closing day pattern which looks to be up.

What do you think? 30min 100dma @ 40.40 LOD for QID (EDIT just broke 40.40)? Can you give some QID down targets? TIA.

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