Pull up a SPY weekly candlestick chart and you too will see the large descending triangle.
We are stuck between SPY 111 ish and SPY 105 ish. For an exact chart go look at Traderbeans:
http://www.traderbean.blogspot.com/
For me, I just use these levels as a guide as I profitably trade intraday. Any buy and holds should be confined to gold, silver, and miners at this juncture.
What am I trading intraday?
TZA
TNA
FAZ
FAS
QID
QLD
UNP
SRS
AGQ
RIMM
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Where do I think the SPY will resolve itself?
ReplyDeleteTo the downside. Obama has some magical powers and I'm thinking the GOP won't come out ahead during this midterm election. At this point anyway.
Nice going fine week.
DeleteCOG chart, Looks like it’s headed for 26
ReplyDeletehttp://zstock7.com/?p=3314
Also VIX intraday low at 11:00 pst.
zstock
Hey TenYear, nice blog!
ReplyDeletetb
Hi tenyear
ReplyDeleteWhat is your thought on market?What are u trading?
You are the one I pay attention the most when it comes to market
Thanks TB...keep up the good posts!
ReplyDeleteHi Sam,
Market remains tricky. SPY 115.89 was my upside target after the fall in June. I'm not very satisfied that we haven't tested the breakout levels from early 2009. The trend remains higher but I remain skeptical. I think October could get rough for the bulls. I haven't been trading much because of the action.
Hi Tenyear
ReplyDeleteHave not heard from you for a while.SPY is 116.59.I would love to hear your thought on market going forward.
many are expecting it to reach april high from what I hear.