Replies to post #1657 on SPX- QQQ - Dow

[Footquarters]

Markets set ups





You will notice on the chart the three moving averages that create buy or sell signals.. If you notice that anytime the 80 MA gets below the shorter term moving averages we have strong moves up. Anytime that the 80 MA is above the shorter moving averages we can have strong moves up, like just what occurred, but best case scenario generally is consolidation waiting for the shorter term moving averages to catch up but odds are this move will fail so that longer term moving averages can move back to where they are healthier moves. So what occcurred the other day was mostly a short squeeze and not a real move. If you use the 15 min chart, the MA's are the 100, 320 SMA

Foot in mouth stuff :)