Here's the 15 min SPX chart, really
it's just been a chop/slop day in the market. The SPX couldn't get
over the 200 EMA and the shorter term EMA's. 60 period stochastics
also failed to close above 20%.
Looks like positive divergence is
setting up and there is plenty of support below (1250 and 1245),
and again resistance is the downtrend line
The point is, don't churn your
account and trade just for the sake of trading, if something really
stands out or is taking volume thats fine, otherwise it's a Friday
and not a reason to be too aggressive.
Are the Qs a worthy short alternative? - Comp did it's backtest
right and there's been little drop since then. Or is the setup for
agressors not really clear enough?
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S&P 500 15 min chart.png Here's
Posted by matt on 25th of Jul 2008 at 01:51 pm
Here's the 15 min SPX chart, really it's just been a chop/slop day in the market. The SPX couldn't get over the 200 EMA and the shorter term EMA's. 60 period stochastics also failed to close above 20%.
Looks like positive divergence is setting up and there is plenty of support below (1250 and 1245), and again resistance is the downtrend line
The point is, don't churn your account and trade just for the sake of trading, if something really stands out or is taking volume thats fine, otherwise it's a Friday and not a reason to be too aggressive.
Are the Qs a worthy
Posted by kreem on 25th of Jul 2008 at 02:46 pm
Are the Qs a worthy short alternative? - Comp did it's backtest right and there's been little drop since then. Or is the setup for agressors not really clear enough?