SPX 5 min

    SPX 60 Minute with BB

    Posted by breck123 on 11th of Aug 2011 at 01:41 pm

    rising wedge and near support at about 1161, would you sell longs if it breaks or do you think there is few more days up. Breck123

    breck123 - the answer depends

    Posted by steve on 11th of Aug 2011 at 02:01 pm

    breck123 - the answer depends upon you objectives and risk tolerance. Personally, I have been taking profits fairly quickly on my trades (especially counter trend) and re-entering upon pullbacks/consolidtion. In any event, you should be raising your stop upward in accordance with you trading plan. The action off the 1166.92 remains choppy and could lead to another probe higher. 


    There it is new highs

    Posted by steve on 11th of Aug 2011 at 02:14 pm

    There it is new highs as one would expect after the choppy pullback...bullish Mat Hold pattern on 15 minute SPX playing out


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