Wednesday, April 28, 2010
Wednesday 4/28/10 wrap up
SPX broke above sell off trendline about mid day today, so closed Monday's short ES @ 1187 around 1 PM - gain of 25 points. Lots of choppy and sloppy sideways stuff today, yes we closed up but it wasn't motive, much more corrective in nature. Also, the move down from Monday is impulsive and easily counted as 5 waves. Meanwhile the Sell line remains solidly above the Buy line, so indications are that more selling is to come. At this point the odds are that we are at the beginning of a strong move down, so the pattern to trade off of is the V Stoch. That indicator moved steadily toward a 75 reading today, if we keep drifting up it should get there tomorrow at which point we will have a sell signal when it rolls over. Not putting an EW count on the pattern down as of yet, more needs to unfold before determining wave labels.
5 minute chart didn't offer any really good trading opportunities today, hard to make money on sideways stuff like this.
Subscribe to:
Post Comments (Atom)
Yes thanks for that. I was looking for a nudge to help close out my short and vindicator did just that. It was great.
ReplyDeleteBTW - what is the "ball" screen when refreshing Vindicator? I assume something like "server busy" or something.
Well the "ball" screen is a cluster of pieces clumped into a circular arrangement. This shows up where the price chart would normally be seen. Using an iPhone so maybe that had something to do with it? I just waited a few minutes and tried again and things were back to normal. This happened twice though so I thought it was intentional.
ReplyDeleteYou are a Genius, I was able to bag a few coins on this move - with your help.
ReplyDelete