SPY - Chart Link - here's a 1 min chart of
the SPY with my indicators, watch the Histograms, SPY rallies and
makes a new intra day high and the Histograms go back slightly
positive, then if they turn back down negative, could be an intra
day short as there would be nice divergence. Currently the
MACD line at the very bottom 20,50,1 is above zero, watch that for
support.
Currently there is a triangle pennant forming, looks like it
probably wants to break up. later in the day if a pullback occurs
watch that 200 SMA.
The scenario I pointed out earlier on the 1 min SPY played out,
remember I said to look for one more new high on the Histograms and
when they go back negative would provided a short, as you can
see it worked
SPY 1 min comments
Posted by matt on 19th of Jun 2012 at 11:44 am
SPY - Chart Link - here's a 1 min chart of the SPY with my indicators, watch the Histograms, SPY rallies and makes a new intra day high and the Histograms go back slightly positive, then if they turn back down negative, could be an intra day short as there would be nice divergence. Currently the MACD line at the very bottom 20,50,1 is above zero, watch that for support.
Currently there is a triangle pennant forming, looks like it probably wants to break up. later in the day if a pullback occurs watch that 200 SMA.
The scenario I pointed out
Posted by matt on 19th of Jun 2012 at 02:42 pm
The scenario I pointed out earlier on the 1 min SPY played out, remember I said to look for one more new high on the Histograms and when they go back negative would provided a short, as you can see it worked
http://breakpointtrades.com/blog/post/202853/
beauty Matt!
Posted by bkout3 on 19th of Jun 2012 at 02:44 pm
beauty Matt!
It's also one of those
Posted by frtaylor on 19th of Jun 2012 at 11:51 am
It's also one of those days where the 60 sto has been above 80 all day on the 5 min chart.