15 March 2014

S&P500 : Spring Bear

  • Weekly : Close last week = dark cloud cover. Should see follow through next week to around 1780 where we shall see if the uptrend line holds.
  • Daily : Since the shooting star last Friday + evening star thereafter, market has been soft (as per candlesticks theory). Last night's close at 1839.50 is below a significant previous high at 1846.50. Expect the coming days' trading to either 1. be choppy while we try to form the right shoulder of a SHS top, or 2. we go straight down with some force. In any case, being short is right.
  • Trade : -1859 / + 1839 / -1844. So worked into a small starting short position at -1864 average. Planning to build on this patiently. Will not lose money on existing position with protective stop below entry. It's the new positions where the play is.

5 comments:

Taichiseal said...

Stopped out at +1851. Squared now.

Try to re-set higher up.

Taichiseal said...

-1854.50

Taichiseal said...

+1850.25

SQ

Taichiseal said...

-1856

Taichiseal said...

+1849

Limited bullets better employed elsewhere.