SPY

pick 'em....30min CMF and momentum on buy, but breadth momo suggests this may be the end of a cycle, not the commencement. my swing model has SPY 1R from today's close circa 88.30, 2R at 89.68. intraday protective stop at 85.52, closing stop at 86.17 or lower.....

So far, it looks like a reverse symetrical triangle on SPX to me, we are puting in the "E" right here.

So far, it looks like a reverse symetrical triangle on SPX to me, we are puting in the "E" right here.

"reverse symetrical triangle" - Does that mean that you see this chart as bullish? Up & breakout from the "E" bottom?

So far, it looks like a reverse symetrical triangle on SPX to me, we are puting in the "E" right here.

"reverse symetrical triangle" - Does that mean that you see this chart as bullish? Up & breakout from the "E" bottom?

No, we'd be making the "E" right here at the top-it's not bullish,imho.
If you care to draw it Cedar-
A at 871
B at 860
C at 873
D at 853
E-here

Edited by thespookyone, 30 December 2008 - 09:27 AM.

So far, it looks like a reverse symetrical triangle on SPX to me, we are puting in the "E" right here.

"reverse symetrical triangle" - Does that mean that you see this chart as bullish? Up & breakout from the "E" bottom?

No, we'd be making the "E" right here at the top-it's not bullish,imho.
If you care to draw it Cedar-
A at 871
B at 860
C at 873
D at 853
E-here

Thanks - thought I'd better make sure; I'm not interested in fading the Spooky One

Edited by Cedar Creek Lake Trader, 30 December 2008 - 09:56 AM.

Cedar-It could always break the other way, although I feel much less likely-and thx for the compliment. Also, was using ES, if you care to set it up for yourself.

Edited by thespookyone, 30 December 2008 - 10:24 AM.

Cedar-FWIW I think 88.96 SPY may be a great place to short-keep an eye on it there.

Edited by thespookyone, 30 December 2008 - 11:32 AM.

Cedar-FWIW I think 88.96 SPY may be a great place to short-keep an eye on it there.

Thanks - I'll bear that in mind.

Looks kinda toppy here at 88 - think it's got another point in her today?

"Looks kinda toppy here at 88 - think it's got another point in her today?" Yep, closed a penny over my target, hmmmmm.