Tuesday, February 28, 2006

Close but no cigar

My system is on a hourly sell, but the daily remains on a buy signal. It went close to a sell, but did not generate one. As i posted yesterday, we still remain in a "Yellow Zone", Where the daily trend and momentum is neutral at this point. It could tip either way. To keep it simple, if the hourly turns up, i would start looking for long trades again. If the daily turns down, i will join the bears. If today's support fails on the SPX, the next dynamic support on the SPX daily comes around the 1270-1272 area.

The MACD chart i posted yesterday has curled down, but yet to give a crossover. Crossover or Kissback ? - I guess, we'll know tommorow.

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