Monday, October 19, 2009

Renko Sell Signal


Renko Sell Signal - Daily SPX



Tuesday ATR-Sell level for SPX - Daily



Tuesday Sell level for BWT - Daily


Aggressive intra-day Sell levels - 90 minute


Trading notes:

The rally from March is so close to over it would be a shame to throw in the towel now and piss away a good entry on the SHORT trade of the year. As my comments underneath each of the above charts indicate, I am looking to go SHORT around these levels, but will only do so upon confirmation via a break down in prices. Ergo, my attention is upon key levels that would allow an early entry to a substantial decline. A more conservative trade would be to wait for the support channel to be broken, as shown below:


Five waves up + oscillator divergence + break of channel = Mechanical SELL


A

10 comments:

Anonymous said...

did you see the beautiful southern doji on the vix today, vix ended up on the day

bottom?

Anonymous said...

At the rate I am going with your recommendations, the first $10,000 is a long, long way away... NNVC down $4,000, TZA down $2,000, EDZ down $1,000... your blog is entertaining but not so much when you're trading real money. Thankfully I own some gold stocks bought on my own advice to offset the loss. I thought the point of this was to make money.

Allan said...

Re: My recommendations

Show me where I gave you the recommendations you are claiming to have acted upon, your account statements proving your losses and I'll cut you a check. If you can't find all of the above, you hit the donate button, $10.00 would be fine.

Anonymous said...

Hi Allan,

AAPL had a great quarter, NASDAQ should be strong in the morning, and might lead the market yet even higher. No doubt these markets are way overpriced, but still might be headed to the nothern sky. Be patient and wise, I heard somewhere "only fools jump in."
Warmest regards from NYC, joe

ps: truly enjoyed "First I look at the purse." thank you for that one.

Anonymous said...

Allan,
I have been following your blog for sometime. Trading the Price and Trend using the ATR trailing Stop System. Very profitable, simple and robust.

Ready to make a calculated gamble on 880 SPX year- end on a hunch the meteoric rise from March has come to an end. Thanks. Dave

Anonymous said...

To Anonymous,
Did you buy LWLG. The stock closed today at 2.05. I think Allen is in at around .60. from his post in May.

L

Anonymous said...

With the Dow at 10,000 the decision becomes is the next 1000-2000 point move up or down. My money is on the Dow hits 8000 before it hits 12,000.

L

Anonymous said...

Good charts Allan,thanks. Can you give a basic list of the short plays that would work for shorting the market?
Would inverse etf's work? or are there better ways to play it?

Tom D said...

Now that I finally agree with you 30-40 SPX handles higher than the **ALERT**, I think you are going to be right. Maybe. Or now we could both possibly be wrong.

LOL

Cheers buddy!

Anonymous said...

BAM, Neely and Prechter all wrong, wrong, wrong
and all my shorts are hosed !!!
thank you very much ...