Posted by frtaylor on 10th of Feb 2015 at 03:29 pm
With today as confirmation of yesterday's hold of the SPX 50ma
(assuming the next 30 minutes holds), it appears the breakout on
the daily that we've been waiting for is to the up side. Matt or
Steve, do you see it this way?
Posted by frtaylor on 11th of Feb 2015 at 10:36 am
Although SPX holding the 50ma yesterday was certainly positive,
I am not particularly bullish. This is in part to an Elliott Wave
guy I keep an eye on, whose count still calls for a pullback in the
next 2-3 weeks down to the lows of the recent consolidation range.
In short, lots of volatility and no CLEAR breakout yet means
anything could happen. I say this because I would not want anyone
to trade based on my original comment.
frtaylor - I've been talking about that, all the MA's on the
daily are bunched up in a place where price could be set to run up
and breakout if it wants to, and we've been consolidating for a
while and building energy. that said while today looks good,
follow through is still needed. I'd also like to see price
get back above that ATR on the BPT MA
Posted by frtaylor on 10th of Feb 2015 at 03:47 pm
Thanks - it's difficult to remember all the information you guys
provide in the newsletters. Thanks for the quick response, I'll
also try to refer back to the newsletter as I wonder about such
questions.
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50ma hold confirmation
Posted by frtaylor on 10th of Feb 2015 at 03:29 pm
With today as confirmation of yesterday's hold of the SPX 50ma (assuming the next 30 minutes holds), it appears the breakout on the daily that we've been waiting for is to the up side. Matt or Steve, do you see it this way?
Although SPX holding the 50ma
Posted by frtaylor on 11th of Feb 2015 at 10:36 am
Although SPX holding the 50ma yesterday was certainly positive, I am not particularly bullish. This is in part to an Elliott Wave guy I keep an eye on, whose count still calls for a pullback in the next 2-3 weeks down to the lows of the recent consolidation range. In short, lots of volatility and no CLEAR breakout yet means anything could happen. I say this because I would not want anyone to trade based on my original comment.
frtaylor - I've been talking
Posted by matt on 10th of Feb 2015 at 03:38 pm
frtaylor - I've been talking about that, all the MA's on the daily are bunched up in a place where price could be set to run up and breakout if it wants to, and we've been consolidating for a while and building energy. that said while today looks good, follow through is still needed. I'd also like to see price get back above that ATR on the BPT MA
http://screencast.com/t/4wrgCh3xQ
Likely measured moves?
Posted by kwalling on 10th of Feb 2015 at 05:38 pm
Matt - What would be the likely measured moves for SPY & QQQ if the breakout is confirmed? Thx! BTW, great analysis and insight on SPY last night.
Thanks - it's difficult to
Posted by frtaylor on 10th of Feb 2015 at 03:47 pm
Thanks - it's difficult to remember all the information you guys provide in the newsletters. Thanks for the quick response, I'll also try to refer back to the newsletter as I wonder about such questions.