Posted by frtaylor on 17th of Jul 2012 at 03:30 pm
Steve, are you considering shorting SPY if it 1. fills the gap
completely (136.78) and has negative divergence on the MACD on
something like a 10 or 15 min chart? Seems like a good trade
short idea to me (but what do I know!).
onefourdroopy - they are more often filled but the question is
timing. A failure to fill the open gap in this case would be a sign
of weakness. Again, these are best viewed as targeted areas and one
should continue to respect triggers.
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SPY 15 Gap Update
Posted by steve on 17th of Jul 2012 at 02:37 pm
SPY - Chart Link
Steve, are you considering shorting
Posted by frtaylor on 17th of Jul 2012 at 03:30 pm
Steve, are you considering shorting SPY if it 1. fills the gap completely (136.78) and has negative divergence on the MACD on something like a 10 or 15 min chart? Seems like a good trade short idea to me (but what do I know!).
that was probably a lower
Posted by matt on 17th of Jul 2012 at 03:39 pm
that was probably a lower risk short with a stop, considering the 60 min charts are now overbought, just have a stop in place.
Thx Matt - looking at
Posted by frtaylor on 17th of Jul 2012 at 03:42 pm
Thx Matt - looking at hedging some here.
a Steve on the spx
Posted by onefourdroopy on 17th of Jul 2012 at 02:41 pm
a Steve on the spx 15 update -do those gaps most of the time fill all the way? up to 136.80 area
onefourdroopy - they are more
Posted by steve on 17th of Jul 2012 at 02:46 pm
onefourdroopy - they are more often filled but the question is timing. A failure to fill the open gap in this case would be a sign of weakness. Again, these are best viewed as targeted areas and one should continue to respect triggers.