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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (10264)4/9/2009 9:21:33 PM
From: skinowski  Read Replies (1) | Respond to of 41420
 
Interesting that on the SPY hourly the 12,26,9 MACD sports a long series of lower lows ever since mid-March.

On SPX, the area from the mid-850's to mid-870's seems to represent pretty massive resistance, accumulated since last October. Excessive bullishness while heading into heavy R is not a positive combination, of course.

(the corollary to this is that if the thing does break out - then the rally quite likely has legs).



To: Perspective who wrote (10264)4/9/2009 9:31:22 PM
From: skinowski  Respond to of 41420
 
Also, don't recall if I mentioned it, but I had a stop buy order for XLF at 9.78 - right at the breakout from the potential Ascending Triangle on the hourly. Got filled, apparently (no time to check the account -g).

That Triangle, btw, happens to be a decent Elliottian Triangle as well. As such, it may have bearish implications, since it is likely to be wave "B" (which happens to be the theory behind the trade).


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