here's a 60 min chart of the SPY, stop could go around this
range.
otherwise things are overbought, but no real divergences on the
30, 60 min charts, however the last high on the 5 min chart was
divergent, however it's still above the 20 EMA, watch 60 Stochastic
above 80%, regular 14 Stochastic might need to get overbought etc.
again if you have a lot of longs that you want to hedge, it
might make sense, or if you want an aggressive short, but realize
you must have a stop in place
last Friday frtaylor asked me about taking a short for a hedge,
I posted this 60 min SPY chart with a fairly tight stop, so far
that's panning out, here's a link to last week's chart and updated
view
here's a 60 min chart
SPX daily charts
Posted by matt on 27th of Jul 2012 at 02:56 pm
here's a 60 min chart of the SPY, stop could go around this range.
otherwise things are overbought, but no real divergences on the 30, 60 min charts, however the last high on the 5 min chart was divergent, however it's still above the 20 EMA, watch 60 Stochastic above 80%, regular 14 Stochastic might need to get overbought etc.
again if you have a lot of longs that you want to hedge, it might make sense, or if you want an aggressive short, but realize you must have a stop in place
last Friday frtaylor asked me
Posted by matt on 31st of Jul 2012 at 04:07 pm
last Friday frtaylor asked me about taking a short for a hedge, I posted this 60 min SPY chart with a fairly tight stop, so far that's panning out, here's a link to last week's chart and updated view
http://breakpointtrades.com/blog/post/205550/#205560
SPY 60 min last week