Tuesday, March 31, 2009

Three times a lady

Sixty-minute SPX


(1) Fourth Wave Sell Signal (at Fibonacci 50%);

(2) False Bar Stochastic Sell Signal (close enough);

(3) Blue Wave Red Sell Signal (closing bar, Tuesday).


All of these are taking place under the channel that was broken on Monday; looks pretty bleak no matter how I look at this chart. Anything can happen, but the probabilities are clearly for new lows under Monday's low.

A

3 comments:

Harsh said...

Allan,

Seems like SPy triggered short today on daily chart as per FB. What would prevent you from taking the trade?

THank

Anonymous said...

this market keeps whipsawing back and forth ...

Anonymous said...

I thought we have a sell signal, geez