nothing really to say. Here's 15 and 30 min charts of the
SPX. The SPX continues to just ride the channel down.
This mornings gap up was a gift to short!!!
next here's a 15 min chart, look for a potential support off the
lower trendline of the channel. Also watch the trendline of
the MACD so see if the MACD bounces off it
But the trend is down, that's it. Our stance has been
to short bounes/rallies.
Posted by junkmaylbox on 23rd of Feb 2009 at 03:26 pm
Yeah, it was a good opportunity. The market is kept from making
large bounces to prevent folks from adding to their short
positions. In wave 3 declines one only sees small bounces, not more
than that. I was expecting a larger bounce myself :(
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SPX 15 min chart.png SPX 30
Posted by matt on 23rd of Feb 2009 at 02:59 pm
nothing really to say. Here's 15 and 30 min charts of the SPX. The SPX continues to just ride the channel down. This mornings gap up was a gift to short!!!
next here's a 15 min chart, look for a potential support off the lower trendline of the channel. Also watch the trendline of the MACD so see if the MACD bounces off it
But the trend is down, that's it. Our stance has been to short bounes/rallies.
Yeah, it was a good
Posted by junkmaylbox on 23rd of Feb 2009 at 03:26 pm
Yeah, it was a good opportunity. The market is kept from making large bounces to prevent folks from adding to their short positions. In wave 3 declines one only sees small bounces, not more than that. I was expecting a larger bounce myself :(