Thursday, October 9, 2008


A clear short signal was given between 1:30PM-2:30PM. It was the breakdown in the wedge pattern. There was no signal to cover today. The decline was sudden and painful for those who were unable to react quick enough. You'll have to start getting with the program -- things are going to get a whole lot more quicker, both declines and future rallies, and if you can't react in time then every minute may cost you considerable damage. Therefore, I recommend that ONLY full-time traders actually trade. There's too much going on for the folks who do not have immediate control over their positions. Makes sense, doesn't it?

S&P 500 (SPX) - 1-day

Below is a 3-day chart of the S&P 500. You can see the numerous triangles (both ascending and descending), a neutral range and a wedge, all in 3 days. The action this morning broke down yesterday's rally attempt and, in this chart, formed a bearish flag. This is the reason why I stress the need for multiple time frames. This will give you the perfect intra-day entry point. Listen to me and just do it!

S&P 500 (SPX) - 3-day

Don't forget to try out the Free Trend Analysis. It's FREE, so give it a shot!

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