Monday ramblings

424
bearish case would be that today simply backtested the broken UTL

421
i'm  still staying open to the formation of daily bear HS pattern in spx.... back to 1114, then a break of 1070

420
btw today spx closed ABOVE the uptrendline that it broke under on friday

414
1103 spx is impt R if it ever gets there... hurdling that would trigger stops for an upside breakout, i think

411
spx charts r bullish for more upside.... daily and 60min bullish,,, 15min is kinda sloppy but its ok since the 15min range is narrow... sloppy allowed... BUT that 1092 SPX needs to be hurdled, or the bears will take back control.... thats the DTL resistance.... if that hold, short swing might be merited

407
sold some of this FAS for small lil profit 7208 vs 7249.... more to reduce risk than for the 40 cent profit... an still sell fas AH


now decently
 
 
403
its a daily signal not 60min, so stronger. no crouching tiger swing tho... if that comes it would likely come intraday tomorrow

402
a close over spx 1089 tomorrow would give a buy signal on both the MACD method MmM daily, and thru harami bull candle close

00
correction... xlf hit .42 not .43

358
3647 sso sold a piece... small port still holding sso

357
well there's the 14.43,,, though i expected it at 3:51pm

3:55
there's the 3 new marginal daily high, as expected....


351
nervous fas could exit now near breakeven... i'm styaing in

349
ok now... xlf should hit .43....last .36

246
xlf 1438 should give a lil pop... been at 1435/36 awhile here

335
a close over 14.28 in xlf would suggest that xlf has some more upside in the coming hours/days.

334
xlf remains in that asc triangle. as mentioned this morn, a breakout higher of it was NOT expected today unless velocity increased, which it has not thus far. only a volume surge in the coming minutes would do that, else we wait for tomorrow for resolution. It should resolve tomorrow,

330
sso 3647 trgt next....last 3634.. thats the dtl resist

330
purely from a tech view, charts suggest a rise into the close. last 1086 spx

321
not sure if this move up is a headfake to be follwed by selloff.... charts still suggest more up in spx to me. spx 1086.

318
a close around here would create a bull 2day harami candle pattern, that would need confirmation on another day over todays high. last spx 1085

256
i would have no problem shorting "down here" swing if the charts looked differently, but i dont see a swing short new entry yet

246
charts now suggest another new high of day for spx... the other 2 made small new highs.. see what this one does

241
xlf has a buy signal IF a 15min candle closes over 1440

238
that spike in xlf to 1438 was real... 130,000 shares on the time and sales

223
xlf still inside its asc triangle bullish.... holding in there

220
on could argue theres a bear flag xlf 60min... or upchannel?? i think its got more upside in coming days tho...

213
the xlf is touching testing the 60min UTL support now...1428ish

203
depending on how u draw the trendlines, spx is marginally higher than its bull fall wedge... BUT there is still room to shoot down to 1075.

201
xlf 15min is repairing itself... may add to xlf it merited... no where near ready now...prob not today. the 15min still vulnerable tho


154
1092 spx target... last 1086

149
xlf over 1427 will keep it in the bull asc triangle....last 14.36

147
there's the 36.21 hit to sso mentinoed b4...still ok over .17ish

146
ok the xlf 15min is weakening... needs to consolodate here or go up else back to 14.27, 14.00

142
one thing that does concern me in the xlf long... those topping tails wicks on the candles 60min... thats bearish...

140
a hit of 3622 sso is highly likely in next coming minutes... last 3630

138
over 3617 sso pref 3621, sso is on target easily... under that it gets iffy.... expecting a lil pop down poss

135
7347 is first faz target...higher targets being calc.....

133
fas target 73.47 from 7208 cost (7190+7225)

125
1446 xlf expected at 136pm... last 14.40

123
sso 3639 exact target hit but i only got 3637 for it....

122
limit sell sso 36.68...thats channel R

121
sellling at the mkt close enuf...only partial sale, large port only. small port still holding.

120
one penny from 3639 limit sell partial sso from earlier this morn...

117
sso trgt 36.81 on asc triangle if it breaks out

116
sso 3min bull asc triangle but it wont breakout higher until tomorrow unless velocity increases..... which it could as volume comes later today

100
15min spx 1100 target if that inv HS works

1258
sso should slam into DTL resist at 36.48ish... last 36.25... so prepared to sell a piece up there if able (large port)... no sale in small port

1254
spx 15min bull invHS from 9AM... still valid..intraday

1249
a 15min sso close over 3630 would be bullissh, inability to do so, bearish,,, intraday (or over 1086 spx)

1238
This could be that move up i referred to at 1153... watching carefully here now to see if can go higher...spx last 1085

1237
as looks like


breaking out so i paid premium.... the

.87 lim was not filled,
 
1236
i will buy 25% more fas 72.25

1231
i will buy 25% more fas 71.87 limit if able... last 72.01

1226
its a bit early of an entry,,,,so buy 1 of 4 poss

1222
a daytrade buy is setting up in fas...not ready yet for me.... last 71.79

1205
considering fas long scalp but not yet

1153
if spx declines here....the pattern in 15min charts candles, rsi, stoch, macd, etc... usually will make another run up to a higher high... last spx 1085

1152
xlf 60min asc triangle target 1478

1146
if sso can hold 3613 then it should achieve 3657. last 3619

1144
of course the upper band also indicates a type of R as well....

1143
the xlf boll bands 15min are "narrow".. if they can pierce the upper line, a breakout up usually follows (when they are wide, the opposite happens). xlf last 1442, close to uppper band

1134
limit sell a piece of sso 3639 to take profits

1129
spx makes the new high of day as expected from crouch tiger,,,, came 3 min early

1127
limit orders set to


sell a piece of that sso at spx 1089...
 
1125
sso new high expected 11:33 AM

1124
85% bull crouching tiger in sso now suggessts a higher intraday high... if 3612 holds sso and pref 3617 hold

1123
that invHS continues to form very nicely

1119
target: sso 3673 channel line R test.. last 3624

1118
it seems to me that spx needs to carve out a bear divergence on 60min charts and then plunge. but higher prices are needed first to carve it out. last spx 1084

1109
but now i'm watching to see if spx puts in a lower hi... if so the inv HS bullish will prob fail... needs equiv or higher highs

1108
the sso spx inv HS continues to form as postulated earlier yesterday and 930am today....

1047
1084 spx holding but being pressed hard here//// if it holds then 1090, breaks the 1081
1035
thus if the 1min chart starts to break down i'll sell a lil sso at 3625ish

1034
LOTS of R here 1086,,, daily MA, 60MA etc

1032
sps close to the 1089...could want that first,,, who the invHS would call for pullback rite here

10108627
a pullback here from 1086 to 1081 would be ok for sso,,, tho looks like it wants to just stretch for 1088/89 without 1086...last spx

1025
last sso 3627

1025
limit sell a piece of sso at 3654 to take some profits...partial sell only in large port, no sale in small port

1021
SPX 1089/90 could be most impt R test of the day if it gets there. last 1085.  the 1088/89 is a signif pivot

1019
spx next target 1089

1019
XLF targets: 1443, 1457, 1463, 1478 with stall at each

1018
xlf stall 1443 expected... last 1438

1016
xlf target 14.57 test yest hi is supported by chart patterns 3min

1015
133t chart pattern trgt for xlf is 14.63 (14.78 next)... with stops stalls b4 1463

1012
i'm still preferring sso candle close over 3603...15/60min... could get it on this candle

951
nervous xlf swing longs could exit here breakeven, i'm staying long for now

950
poss daily bull harami candle forming (2 days)

948
as expected 3 in ago, spx made a higher hi over 1082.... last 1083.... see if it can get 1085, pullback then 1089

946
3min bull flag spx n sso

945
spx did survive the 15min gap test so far tho...suggests higher hi today in spx over 1082....

942
sso candle CLOSE over 3603 15min or 60min would signal intraday strength.... unable to do so exhibits weakness (or spx 1082)

937
i like 1088 spx as a short if it gets there....way charts r now...

935
observing to see iff sso stays over 3580 on any pullback in next 30min..last 3595

934
testing 1082 spx now...impt intraday R

929
will be watching the R areas to see if they hold or break. dont usually break on the first try.

929
major intraday R 1091 spx

928
lots of R at 1081 and 1085 spx tho

926
poss inv HS formation spx 15min... up to 1087ish necklin

923
i'm not shorting right at the open....will observe at least 3 min... maybe 10-20min... poss break of the 1078 with 20mins

9:10 AM
Futures are up 6 points right now.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".