that certainly looks like a bear flag but it could also be the 5th wave down on the 5 or 15 minutes charts.

If it is a bear flag, where do you think it will measure to?

Thanks,  FinaM

Matt:  I like the shorter VIDOE's for the intra week updates and fewer charts. I think I  learn more from a video as you point out the options. Many times the charts are similar anyway.  Thanks,  FinaM

Matt: Nice call on the Bear Flag for the S & P 15 minute chart.  I am short the market (for now) in my trading account

BUT since I trade the daily charts in my IRA, I am still LONG in that account.  I appreciate all you guys to to teach us the various timeframes and I really like all your updates on the 15 Minute SPX (as well as the daily ones in the evenings)

FinaM

Nice to see 5 waves down (pointed out by you and Matt) on the 15 Minute charts and then a bounce. Technical analysis really does work.

Now the 64 million dollar question.  Do we still think that we may get to 1320-1325 on the S & P? FinaM

Maggi:  If you go to the Market Analysis section you can see all the dynamic charts there and save them to Stockcharts.

Matt updates these all the time (especially the 15 Minute one)  I am hoping that we will get a daily one too at some point.  FinaM

Matt:  Thanks for the dynamic KISS daily chart.

This is a good chart for the longer term traders. (like me)

I would LOVE to see this type of chart added to your ones at the top like the 15 Minute and 60 Mintue ones.  Maybe it replaces my one of the EMA crossovers. (which works in trending markets but can whip when the market is not trending) 

You seem to keep pointing out the 60,3 Slow Stockastic cross ups and down.  I am just looking for some type of relatively good indicators on a longer term (daily type chart)  Something at the top of the blog that is dynamic would be good for all your longer term traders who just want a quick reference of the market and how you are reading it. (of course we all like your comments too)

Just a thought until you can set up your longer tern section.  Enjoy the weekend.  FinaM

Thanks Matt:  I LOVE these short training video's.  FinaM

Matt:  Are you going to put DIG on the watch list so that we can follow the notes above?

Thanks,  FinaM

THANKS MATT:

I'll wait for the pullback to go long on my IRA account (will probably save me Thousands) as that is my biggest account.

The 13 and 34 EMA crossed up (and over the 50 as well) so I already scaled in with my Cash and Brokerage account.

I am off now to go camping for the weekend but since I read your update for SWING traders, I am fine to wait and NOT ad to my positions today.  (which I was tempted to do)  YEAH this is working for me.  I am just filtering the Blogs from you and dodger and not reading all the day trade stuff.

THIS SITE CAN WORK FOR SWING AND LONGER TERM TRADERS.  We just need some clear buy and sell rules and some suggestions from you too.

I hope EVERYONE has a GREAT weekend,  FinaM

Sorry folks, it just got to 30 when I just checked again.

The VIX spiked up to 38.

Matt:  What I am asking for is a sample chart that uses JUST The EMA crossovers that I could save to try out the different timeframes? (I am looking for a LINE chart of these indicators only)  After the market closes is fine or whenever you get time.

I could then change the dates and durations to see how they look. (even try the 7/21 instead of the 13/34 EMA's)

If the S&P or SSO could be above or below it that would be ideal.

Thanks,  FinaM

I had a few E Mails on this so thought that I would clarify here.

Try looking at the S & P. (SDS or SSO)

5 Minute charts (2 Days timeframe)

60 Minute charts (1 Month or 2 months timeframe)

Daily Charts (6 Months or a year timeframe)

You could backtest the 13/34 EMA crossovers as buy and sell signals.  I usually wait until AFTER the 20 cross up and 80 cross down of the 60/3 Slow Stockastics. (Saves some whips) But even with a few whips, you should catch most of the major moves.  I use this mostly for the SDS and SSO now, but was using it for QID and QLD before I joined Breakpoint Trades.

Another indicator that I use on this system is the ROC instead of the RSI as it seems to be more accentuated and you can see the divergence between the 3 Rd and the 5th wave on  on each of the different time frames more clearly.

Matt said that he would post a line chart of the 13/34 EMA crossovers so maybe when he does, you can look at this for other stocks or indexes.  It may not work as well for individual stocks as it does for the indexes.

I agree with most of the folks that recently posted that we all need a break this weekend and to spend some time with children being funny and laughing.  (keeps things in perspective as to what really matters in life) FinaM

I have been on vacation for 2 weeks (good time to get away)

One thing that works for me is that I have an IRA account where I use the DAILY 13 and 34 EMA crossovers (but not until after the SLOW stockastic rises above 20)

I also have a Tax sheltered account where I use the same only 60 Minutes.

Then my trading account is the 5 Minute but each time I wait until the EMA's cross over.

All of this is on the S & P (as Matt says it makes a larger move)

I think this works for CLEAR buy and sell signals on the indexes.

Matt and Steve, Could either of you provide a sample LINE chart showing the EMA crossovers?  I checked your list of available charts and do not see it there.

Thanks,

Delfina

I think shorter is better.  I also don't think that you need to include all the charts that don't really change from day to day.  Get some rest.  We know that it is hard with Matt gone.

YOU are doing GREAT.  FinaM

Matt:  THANKS for the lesson on the Support and Resistance comments and also Swing trade notes in tonights update.  I really appreciate that and it is nice to have you incorporate a bit of a tutorial for us in your update.  I concentrate mostly on the Daily charts and just use the shorter term ones as a learning tool.  FinaM

Matt:  Nice call on the Nasdaq playing catch up - it did.  I bought back into QID early yesterday morning. Now I just plan to hold it through this next upleg.  FinaM

I am wondering what the tax implications are for daytrading the market indexes (I am thinking of using the 15 Minute charts)  They seem to catch the major moves each way.

I have an IRA and 401K account and I can't buy and trade within a 3 day window.

Thanks,  Finam

I agree that we are probably close to a top so I am holding onto QID.  I don't mind holding through the upleg as I missed the turn anyway. (not a daytrader)

The Nasdaq summation index is pretty telling. I also like the fib day count thing.

Matt:  It would be nice if we do end up doing something in Las Vegas if you could put on a class on how to read the short term and intermediate term indicators.  Also maybe some trading strattegies for each type of market trading style. FinaM