| Date-Time | Tue 8/14/12 3:55PM EST |
| Active SPX Trade | Short from 1399.55 |
| System Score (S2) | 5 = Trend Score + Turn Score = 10 - 5 = neutral |
| Trade Trigger (T2) | Stop out at 1415 which is 0.5% above the previous high. |
| Commentary | There has been little technical information to add. These 1% 6-8 day coils (1390-1410) don't occur often. VIX set a 5-year low yesterday. OPEX max pain has risen near 1370. The SOS signal cluster reached 5 in 7 trading days. SPX made a new high on the minimum 20th week of delay for a spending-induced top. If SPX breaks 1390ish below the 1393/1395 intraday pivots and the sharpest uptrend line from 1329, it will likely pierce the 20dSMA near 1380 and have a good shot to test the 1350-1370 technical cluster I've been mentioning. The next 2-4 weeks depend on which way USD decides to go. Good luck. |
Tuesday, August 14, 2012
Tue 8/14/12. Daily Updates.
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You have been calling for a down market into OPEX for days but the market has instead melt up to he upside stopping you in your first official trade using your new system. How do you explain that the market is able to act such risk complacent in what appears to be such an awful and risky environment both macro-economically and geo-politically.
ReplyDeleteFurthermore, as an observer of Tony Caldaro's work, I would be interested to hear your views on how he has been able to keep what has proven to be a profitable and accurate bullish bias using a method that many others, such as Prechter or Daneric, have used to derive completely opposite and wrong conclusions ?
Take a look at my next post...
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