On the 60min chart it looks like the market moved up just enough
to tag that uptrend line from the July lows, and then turned down
hard at that support turned resistance.
What are the next important support levels for the S&P?
Posted by dallassteve on 21st of Jan 2010 at 10:47 am
SPX sliced through its pivot support: looks pretty convincing.
I would appreciate anyone's opinion on what is going on, and
strategies they are using.
I am positioned long the dollar with RYSBX (thanks BPT!)
and short the financials with FAZ. I have drawn a
downtrend line on the linear daily chart of FAZ and it looks like
19.20. 50 DMA is also around 19. I don't expect it to
go straight to that level, and I don't like holding FAZ very long.
All ideas appreciated.
what the?
Posted by dylan398 on 21st of Jan 2010 at 10:28 am
bottom just dropped out?? any news? back @ 1130 support just like that.
Uptrend Line
Posted by mvachon on 21st of Jan 2010 at 10:38 am
On the 60min chart it looks like the market moved up just enough to tag that uptrend line from the July lows, and then turned down hard at that support turned resistance.
What are the next important support levels for the S&P?
USD jumped 20 pips all
Posted by phillw on 21st of Jan 2010 at 10:33 am
USD jumped 20 pips all of a sudden and Vix jumped 1.5 points. Maybe news related???
Looking like wave 3 of
Posted by phillw on 21st of Jan 2010 at 10:30 am
Looking like wave 3 of (1 or A) down has commenced.
SPX support breached
Posted by dallassteve on 21st of Jan 2010 at 10:47 am
SPX sliced through its pivot support: looks pretty convincing. I would appreciate anyone's opinion on what is going on, and strategies they are using.
I am positioned long the dollar with RYSBX (thanks BPT!)
and short the financials with FAZ. I have drawn a downtrend line on the linear daily chart of FAZ and it looks like 19.20. 50 DMA is also around 19. I don't expect it to go straight to that level, and I don't like holding FAZ very long. All ideas appreciated.
the 5 min chart gave
Posted by matt on 21st of Jan 2010 at 10:28 am
the 5 min chart gave a sell signal about 30 min ago, that's what happened lol