Tuesday, February 9, 2010

BLANK BOX SPX FOR TODAY

We are operating within a very large range. The SPX 5-day chart shows the area of operations for today. Remember that any break in these boundaries is absolutely significant and must be paid attention to. If not, then we will continue to trade in a neutral range. Believe me, you don't want to get chopped up. On the daily 4-month chart, I added the 100-day EMA and 200-day EMA to create a more narrow range and to confirm the 5-day estimation.