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So, post-lunch resumption of the

SP3

Posted by frtaylor on 27th of Aug 2015 at 02:01 pm

So, post-lunch resumption of the trend with a little head fake just after 1 pm to suck in a few eager shorts. Very typical, really.

Yep, great chart, thank you.

SP3

Posted by frtaylor on 27th of Aug 2015 at 01:58 pm

Yep, great chart, thank you. Keeping me grounded! (As Steve would say.)

This little pullback off the highs is back testing the 9ema. Probably it will bounce this first time. If we go back down to it again, I'm watching for a break and a failed back test from below to take a small short. (9 ema on SPX, not SPY.)

One other thing. We're in the noon hour, I find that intraday trade setups between about 11:45 and 1 pm don't work nearly as often. Lots of chop on the 5 min chart, etc.

Also, the VIX gave a market buy signal. If SPX prices do not plunge down at the close, the VIX will give the confirmation signal, i.e. a second close inside the Bollinger bands. So, on any pullback, I am looking for an intraday pattern for a defined entry.

there's a three-push RSI divergence on both the 5 an 15 minute charts. But nothing on the 30 minute chart, and not overbought on the 30 (RSI 14, not 5). Still in a rising channel or wedge.

I don't see that on my charts. 

Gaps have been consistently filled,

Posted by frtaylor on 27th of Aug 2015 at 08:27 am

Gaps have been consistently filled, so I will be watching for a fill at some point (not nec. today) of this morning's gap. If anyone has had success with a trading strategy for these (such as vertical spreads), please share!

Kudos to you, Steve, for

Posted by frtaylor on 27th of Aug 2015 at 08:24 am

Kudos to you, Steve, for your dedication and hard work yesterday and w/ the newsletter. Thank you!

A channel has developed on

Posted by frtaylor on 26th of Aug 2015 at 02:56 pm

A channel has developed on the 5 minute chart. Encouraging.

Kinda inverse head and shoulder-y!

SPX 1

Posted by frtaylor on 26th of Aug 2015 at 01:23 pm

Kinda inverse head and shoulder-y!

short covering could really send this thing.

1 minute chart - breaking up through the pennant.

another little flag setting up now that it's out of the wedge. 

Vintage Steve - downshift and punch it!

completed ABCDE wedge and out. 

Breaking up out of what

Posted by frtaylor on 26th of Aug 2015 at 12:58 pm

Breaking up out of what looks like a bull pennant (30 min chart). What are the bulls up to? Between the VIX ascending triangle and the descending triangle on SPX 30 minute, they make have a trick play up their sleeve.

A descending triangle setting up

Posted by frtaylor on 26th of Aug 2015 at 10:58 am

A descending triangle setting up on SPX 30 minute chart. Steve, do you agree? Really just the other side of the coin of mla27's VIX ascending triangle.

Pre-market 15-min ES chart. Overthrow of upper trendline on a diagonal. Could be a channel instead, w/ overthrow being inside the channel, as shown. No RSI 14 divergence, however.

Agreed. I posted Tony's comments under "market analysis" rather than "trade ideas" for this very reason. I had considered adding "not to be taken as trading advice;" so now consider that as appended.

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