Wednesday, May 05, 2010

SPX - very short term model: UPDATED

Here is an update to the SPX_30 chart, as of 9:15am PDT:

Below the SPX 30 minute trend model along with the False Bar Stochastic:

What I see here is:

First, an excellent bevy of short-term timing signals generated by this 30 minute trend model; 

Second, the False Bar Stochastic is in "Down Trend" mode, meaning that the apparent Buy signals on the stochastic are ignored, but the Sell signals are very actionable; and

Finally, that 1177 is a key resistance level, at least for the short term and if and when prices approach that level, assuming the FBS confirms,  it may present an opportunity to add to existing positions, or enter, Short.


MMarino said...

Hey look the Apples on my Apple tree are falling..

Lou said...

SPX and XLF March to present trendlines getting punctured ... The trade of the year has just arrived!

I'm all in ...