25 August 2010

S&P500 : 2 x SHS Top

  • Monthly : Evening star = Topped.
  • Weekly : Uneven, ugly SHS Top forming (usually the best ones in terms of reliability of performance. The pretty ones more often than not cause heartaches). The NL is either at 1050 or 1012.
  • Daily : Fresh break of another SHS Top. Set stop on close above NL at 1075. Objective is around 1010.  When this reaches objective, the weekly SHS would have been in play with more downside towards 900.
  • Good trading = Going for the jugular when the stars are aligned. That time is here for S&P500.

1 comment:

Financial Journalist said...

I had with you on shorting USDCAD. Tonight I had shorted USDCAD at 1.0660.