Thanks Foot,
I like that first SPX chart. In following the charts on MKTSS we have only seen the MACD move to -120 a few times before on the 5 day and 10 day charts. For a while we were not sure that it could even go Below -100 but we sure found out that it could <GG>. We like to use the MACD crossovers and crossunders to help with indentifying trade trigger points. You can see on this chart that the MACD crossings were right near reversals. On your long term SPX chart we are still a Long way from a Positive crossover, or a reversal, but could easily move back to test the -100 level. It still does not look good for the markets to reverse out of the longterm downtrends. Hopefully we can continue to be able to trade the bounces with some efficiency. We were talking some in January about just buying 04 Put Leaps and taking the year off. The SPX monthly chart still shows that the trading range has been widening though, for now. Will the yearly downtrend continue this year? We will just have to watch and see what happens Eh? I'll post the links over on MKTSS and see if it stirs up some commentary. Have you been over to Zeev's thread? Is that pay only also?
Enjoy the Evening Foot! :^)
I like that first SPX chart. In following the charts on MKTSS we have only seen the MACD move to -120 a few times before on the 5 day and 10 day charts. For a while we were not sure that it could even go Below -100 but we sure found out that it could <GG>. We like to use the MACD crossovers and crossunders to help with indentifying trade trigger points. You can see on this chart that the MACD crossings were right near reversals. On your long term SPX chart we are still a Long way from a Positive crossover, or a reversal, but could easily move back to test the -100 level. It still does not look good for the markets to reverse out of the longterm downtrends. Hopefully we can continue to be able to trade the bounces with some efficiency. We were talking some in January about just buying 04 Put Leaps and taking the year off. The SPX monthly chart still shows that the trading range has been widening though, for now. Will the yearly downtrend continue this year? We will just have to watch and see what happens Eh? I'll post the links over on MKTSS and see if it stirs up some commentary. Have you been over to Zeev's thread? Is that pay only also?
Enjoy the Evening Foot! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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