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Strategies & Market Trends : STO AV/DB Workshop -- Ignore unavailable to you. Want to Upgrade?

To: SGJ who wrote (61)	6/5/2012 4:46:49 PM
From: SGJ	Read Replies (1) \| Respond to of 93

SPX: 60 min registered a PPO buy signal this afternoon, which I took more out of thinking a bounce was due than the fact that any of the other indicators were positive. The PPO is probably the most accurate indicator, but it stands only with the MACD and SAR on this, so being long here is a higher risk proposition. Things are still pretty bearish elsewhere. The 9 day MA is over the 13 and 20 but the 13 hasn't crossed the 20 which is representative of the bucking up and down the market has been up to here lately. ADX has crossed positive but caution should be heeded as there is still no trend yet on that indicator. Also, what bothers me most is that the RSI is not over 50 and so has the potential for a Deathblow, especially with all the STO array over 86 and falling. The RSI needs to get over 60 tomorrow and head north. The PPO is saying its going to and if its right 1310 is possible. If its wrong, SPX is going to get hammered with a DB. 1240? stockcharts.com