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Thursday, February 7, 2013

double doji and engulfing SPX daily


We made coin again in our trading chat room today.  We bounced right at the trend/support of the triangle at 1499.  I have 2 big numbers.  1516 and 1495.   I wouldn't try to predict which way it breaks on the triangle.


However, we do have an engulfing red daily candle with body and tail over yesterday's candle.  If we break 1516, we're off to races to 1551.  If we break 1495, you already see that there is alot of room left below to 1472.

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Monday, February 4, 2013

McClellan Oscillator sentiment ready for a bounce


SPX 1495>1492 are major support.  McClellan Oscillator is possible to bounce as early as tomorrow or Wednesday.  Bulls need to clear 1502, which is near the current trend average.