Wednesday, June 22, 2011

A rookie traders mind

Don't let this be YOU! Learn to buy support and sell resistance!

Tuesday, June 14, 2011

IHS on MS2

Textbook 3 day inverted head and shoulders(IHS) pattern on the monthly S2 pivot(MS2).

Monday, June 13, 2011

Full Moon and Quad Witching week

This week is Quad Expiration week. We should see a bounce off the monthly S2 pivots. The S&P could pin 1250 and 1300 strike prices. Plus we have a Full Moon this week. We usually get short term reversals during full moons.

Monday, June 6, 2011

short term downside targets

The summer sell off continues. We have several open gaps below that I am using as short term targets. PLUS Quad Expiration next week, we should see 12,000 get pinned very soon. Longer term(by the end of summer), I am looking for the Dow Jones to be at 11,000 or less, and 1177 on the S&P 500.