Wednesday, July 29, 2009

Here is the 60' SPY chart:

Click for larger, Browser back.

Notice that the recent swing low was a bit lower than its predecessor. Then notice that the MACD made a higher low. That's called a divergence. Such conditions are a prerequisite for some buy signals; to some traders, it is a buy signal.

We'll see. I am holding several long positions, and no shorts... pretty durned trusting!

These days, a consolidation seems to serve as a pullback, therefore, we might be getting ready for another up leg.

We gotta pull back sometime... this many green candles is just ridiculous.

No comments:

Post a Comment