Wild action for the market this morning for sure!!
However for those of you who follow this 5 min SPX chart, it
would have helped you navigate this wild stuff, the 60 period
stochastics spiked down below 20% this morning on the pullback and
turned back up from a divergent low
Posted by stevedfw on 27th of Aug 2010 at 12:05 pm
Here were my observations on why not to go short on that
signal. The 5min candle bounced right off the 50p SMA, closed
above its open and closed right on its high.
Is there a reverse head and shoulders on the 5min SPX chart.
From the low of 1040 to neckline of around 1054 =14 points. Add 14
points to neckline = 1068. That is also the 50% fib retracement you
showed on 15 min chart.
It really works for me...closes the gap from the other day
allows for a 5th wave off today's lows to possibly complete a wave
C up of an irregular flat for a wave 2. So many things to like
about that potential. And as you say hits that 50% fib area.
5 min SPX chart worked well
Posted by matt on 27th of Aug 2010 at 11:14 am
Wild action for the market this morning for sure!!
However for those of you who follow this 5 min SPX chart, it would have helped you navigate this wild stuff, the 60 period stochastics spiked down below 20% this morning on the pullback and turned back up from a divergent low
SPX 5 min chart - for Stockchart members
for non-Stockchart members, cut and paste into your browser
http://stockcharts.com/c-sc/sc?s=$SPX&p=5&b=3&g=0&i=p42097153029&a=191691108&r=670
Matt, I noticed that the
Posted by angelo851 on 27th of Aug 2010 at 11:41 am
Matt, I noticed that the stochastic on your 5 min chart is the Full Sto 60,3. Is that the same as the Slo Sto 60,3?
it doesn't matter, works the
Posted by matt on 27th of Aug 2010 at 11:50 am
it doesn't matter, works the same
A little before 11:00 a.m.
Posted by breakout123 on 27th of Aug 2010 at 11:30 am
A little before 11:00 a.m. the slow sto began slightly below 80. What would have prevented you from going in short?
You have MACD neg div
Posted by stevedfw on 27th of Aug 2010 at 12:52 pm
You have MACD neg div now so the next signal 60p STO signal may work out.
Here were my observations on
Posted by stevedfw on 27th of Aug 2010 at 12:05 pm
Here were my observations on why not to go short on that signal. The 5min candle bounced right off the 50p SMA, closed above its open and closed right on its high.
Reverse head and shoulders
Posted by kobie on 27th of Aug 2010 at 11:28 am
Is there a reverse head and shoulders on the 5min SPX chart. From the low of 1040 to neckline of around 1054 =14 points. Add 14 points to neckline = 1068. That is also the 50% fib retracement you showed on 15 min chart.
kobie..nice H&S call
Posted by perthx on 27th of Aug 2010 at 12:22 pm
It really works for me...closes the gap from the other day allows for a 5th wave off today's lows to possibly complete a wave C up of an irregular flat for a wave 2. So many things to like about that potential. And as you say hits that 50% fib area.
H$S
Posted by kobie on 27th of Aug 2010 at 12:36 pm
Measures the same hight as the bull flag that Matt called earliar.(flag flies at hail mast.
H&S back testing neckline?
Posted by perthx on 27th of Aug 2010 at 01:17 pm
H&S back testing neckline? Glad we wont have to wait long to see what happens. Should play out or fail by day's end I would think.
Watch the 5 min 14,3 and
Posted by angelo851 on 27th of Aug 2010 at 02:19 pm
Watch the 5 min 14,3 and 60,3 Full Sto's to drop below 80. That would probably be a good sell signal. The 5 min MACD has negative divergence as well.