Could be a bear flag forming on the
SPX 15 min chart, the normal stochastic got overbought and so we
might need to see the 60 period stochastic work down to oversold if
it falls below 50%
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)
Thanks for the update Matt. I shorted the SPX @ 1284 at 2
a.m. after watching Dodgers report. So far so good. Don't intend to
take it home. Also got long SKF @ 116.39 on the pull
back after market open.
well drorland, Steve covered it well last night,
today is no surprise, we expected a pullback and that's whats
happening. It is our intention that this pullback too will
form a higher low and then we rally again and break
out.
In the short term see my 15 min SPX
chart, looks like we go lower n the short term
S&P 15 min chart, bear flag and H&S
Posted by matt on 7th of Aug 2008 at 02:06 pm
Could be a bear flag forming on the SPX 15 min chart, the normal stochastic got overbought and so we might need to see the 60 period stochastic work down to oversold if it falls below 50%
S&P
Posted by finam on 7th of Aug 2008 at 03:23 pm
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
S&P 500
Posted by vmath on 7th of Aug 2008 at 02:18 pm
Matt/Dodger
Thanks for the update Matt. I shorted the SPX @ 1284 at 2 a.m. after watching Dodgers report. So far so good. Don't intend to take it home. Also got long SKF @ 116.39 on the pull back after market open.
Thanks for the great data/charts!
well drorland, Steve covered it
Posted by matt on 7th of Aug 2008 at 02:10 pm
well drorland, Steve covered it well last night, today is no surprise, we expected a pullback and that's whats happening. It is our intention that this pullback too will form a higher low and then we rally again and break out.
In the short term see my 15 min SPX chart, looks like we go lower n the short term
Time
Posted by drorlando on 7th of Aug 2008 at 02:31 pm
Matt: Somehting I do not have time to listen to updates but maybe once per week at best.