Short Term Trading Member Forum

[denmo83]

making_ground...

I'm still all in on the long side since May 12th and the denmo6 re-triggered a buy signal on May 25th:

http://clearstation.etrade.com/cgi-bin/bbs?post_id=5560893&usernm=denmo83

I was fortunate enough to catch the YTD bottom.

http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[h,a]daclyiay[dc][p][vc60][iUa12,26,9!Lp14,3,3]&a...

The volume this year has been tapering down since January. Sooner or later, it will increase and then we will know the true trend. Until they show their hand, all we can do is play the shorter term charts. Currently, the 60 minute charts have negative divergence:

http://stockcharts.com/def/servlet/SC.web?c=$spx,uu[h,a]eaclyyay[d40][p][vc60][iua12,26,9!lp14,3,3][...

I've got the downtrend line overhead on the SPX at 1135ish. For the Nasdaq, the downtrend line is at 2020. These need to be broken to the upside with volume. I think they will. We have positive divergence on the Dow, Nasdaq and SPX daily time frames.

When I scribble on charts, I store my better ones here:

http://www.ttrader.com/mycharts/display_album.php?id=239