5-6 days of consolidation with positive bias

Today 1255ES was penetrated but was quickly recaptured. With today's price action we are setup for a choppy trading range over the next week.

1255ES is STILL a buy and I will continue to reiterate that. We are trending down, but I have no problems with scooping up points on the north end.

Out of all 21 sets the SPY ended positive at least once over the next 2 days from it's current close (1254ES). Days 1 and 5 (blue) appear to be the strongest periods throughout the 6 day pattern with only 3 out of 21 days negative from the close today.

1240ES should stick as a short term low over at least the next week.

Edited by orange, 17 March 2011 - 12:39 AM.

It also appears that AAPL failed to touch its upper BB and has put in a double top. Once the 340 broke today, AAPL tanked. It appears to be in a downtrend but oversold on the short term.

http://stockcharts.c...4496&r=8538.png

Edited by orange, 17 March 2011 - 12:52 AM.