SPDR S&P 500 (SPY)

[denmo83]

Hey 2-bit...

I would agree. Looks about as over as could ever be. MACD curling over, stochastics pegged up high. Divergence. Long rat-tail candle. Gap open and lowr close.

Etc., etc., etc..

Keep in mind the reversal was identified on Feb.25th (posted after mid-night on the 26th):

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47108600

Since then, check my updates. Including tonight. We go up until we don't. In order to go down, we need to have confirmation. We have top spotters registered today in the SPX and Nasdaq. Not the Dow. A good top spotter will have all 3 indicies and their futures. We don't have that.

Having said that, we are within a smaller uptrend, inside the long term uptrend.

Let's say the party is over and we're going to zero. When should we have sold the longs from SPX1096 bought on Feb.25th?

At 1100? 1120? 1140? When?

1150.23 was the target.

When it was reached, partial profits were taken March 12th.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47769529

March 16th, we went back above 1150.23 and the cash taken was put back in:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47890206

So no, I am not kidding. Take partials off the table at 1150.23. The short term uptrend lower rail sits at 1146.67 for tomorrow. Let's see what happens when we get there.

If you see a better system than this, point it out. I'm all ears.

Ask Footquarters about 1105. It's etched in his brain somewhere. This schitt works.