Follow the chart s downwards to the bottom where you will find my latest update on the progress .
Looking for price to come down and kiss the down Trend line for first target
So going into Friday we are getting a little more confirmation of a possible coming sell off with a (Hindenburg Omen) on NYSE If you don,t know what this is here.s a quick summary
* At least 2.2% of the issues traded on the NYSE in that day must reach new 52 week highs and new 52 week lows. This currently stands at either 69 or 70, depending on the day (it rounds slightly.)
* There cannot be more than twice the number of new lows in new highs. (It is ok for the new lows number to be more than double the new highs, but not the other way around.)
* The 10 week moving average must be positive. It is, right up until today (when the week closes), at which point it won’t be any more. (A weekly moving average doesn’t change it’s signal until the week closes – this has nailed some people with one of my other longer-term signals, the 13/34 WEMA, in the last couple weeks.)
* The McClellan Oscillator must be negative on that day.
If all three occur, we’re said to have a Hindenburg Observation. Two or more within 36-day period trigger a confirmed Hindenburg Omen. $$$ Lets see what Comes !
Well if you,ve been Following the progress and update via twitter of this Swing trade you,ll see its pretty much playing out as i have forecast and acting out exactly as i seen it 😉 no crystal ball needed !
#SPX Sold of into the close Monday bulls need to break above 1.061.75 key level today if not expect market to break lower by end of day $$
A rather late update here on this trade but better late than never . Anyways everything reversed with slight loses on both portions added but more than made up with my 1 st full position . Now once again in full position on the opposite side still really bearish but i,ll play the swings how they come .
So now where back @ the 200Ema thought it a good time to start locking in the profits before the party ends .
Stops moved to + 48 Points $$
As i write Obama is on the TV and we got a little rally underway time to trail this baby up some more … I think we are getting very close to some profit taking and possible mid term Top so i will be looking on the look out to reverse later this week 20 th /24 th . or into next week just gotta wait for the play $$ .