Monday, July 27, 2009

MARKET COMMENTARY (7-27-09)


I'm up nearly +40% for the month, the bulk of it coming from last week's performance. Today was no different, due to my banking of coinage on the majority of my Friday "before the close" swing plays. I did have to give up some intra-day gains because I took a nap from my long trip from CA, but I still gained a solid +4% (the "make money while sleeping" strategy heh). I sent an e-mail to the prospective students with e-mail addresses of the students I trained this weekend, in case you wanted to know how it went.



Now, let's turn our attention to the 3-day ascending triangle that is forming on the SPX. By textbook, this is a bullish pattern, and technically, we did breakout of the pattern at the end of the day. This is a bullish continuation pattern, but just in case, remember that there could be fakeouts. In any case, the uptrend is still fully intact with additional room for the upside.

I posted charts of the SPX in the following order: 3-day/5-min, 5-day/10-min, 10-day/15-min, 2-mo/60-min, 5-mo/daily, 10-mo/daily.




2 comments:

JWC4 said...

Bought AKRX @1.21 >>> post and flag, at what point do i need to watch for a failure?

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