R-Squared Buy Signal Still Alive

Swing trade "long in the tooth" alert. If we don't get any early surprises R2 is working it's way back up to a new peak which will be coincident with a trend change. (1 chart)

U.F.O.

Swing trade "long in the tooth" alert. If we don't get any early surprises R2 is working it's way back up to a new peak which will be coincident with a trend change. (1 chart)

U.F.O.

yep...doesn't even take much chart mastery to look at SPX's pattern and see what's coming. I'll be dumping SSO if we get any selling conviction in the next day or two...which will be an SDS entry point to ride the wave down till the next turn. Also may go short with DZZ for a brief spin, gold miners also looking ST toppy. You really don't have to micromanage this if you swing trade and let the market do all the hard work!

Not being bear or bull here - just looking at what's been going on for months. I'll keep riding it till it doesn't work anymore. Only real Q is if the SPX top breaks 1100 here this time (other than intraday). I think it does at around 1115. Then look for another higher 'low' to play out. Rinse and repeat.

Edited by shanabe, 11 November 2009 - 11:37 PM.

Looking good. The trend change is unlikely to be significant in the long run, but trade able maybe. Best, Islander. PS: Dr. McHugh (whom I semi admire) says it" off the cliff", or "a long slow grind down" 600. Lots of time to get short.