Thursday, March 25, 2010

SPX sell again ! - 3/26/2010

SPX flipped back to a sell at the close today. This whipsaw between sell-buy-sell typically occurs at key reversal areas. That leads me to beleive that this sell signal will run deeper than most think. My strategy here would be to start scaling into shorts from this level and add on any bounces, with a stop at SPX 1181. A move above 1181 will put us back on a buy signal.

Tuesday, March 23, 2010

SPX - March 24, 2010

SPX taking out 1170 invalidated the sell signal and puts us back in a buy mode again. This is probably one of the crummiest sell signal in terms of number of points gained, in the recent months. The sell signal was triggerred at 1161 and the best price the signal could attain was 1152.89, which is about 8 points. Typically these hourly signals generate anywhere between 15-50 points. Again just to be clear, i am not talking about the potential trading profits of this signal, but the maximum points acheived by the signal from the point where it was triggered. In fact, this would have been a losing trade, had one played it for a swing trade. The shallow correction that the signal produced says a lot about the strength of the market, from a pure price perspective. So we are back in buy-the-dips mode, until the next hourly sell gets triggered, which i will post here.

$WTIC (OIL) remains on a daily sell signal.

Monday, March 22, 2010

SPX enters a ST sell

Sorry, i was busy with some business matters and could not update the blog for nearly a month. Finally i have some time on my hands and will actively start updating my blog. I will continue to post the hourly buy/sell signals on SPX and Daily buy/sell signals (instead of weekly) on Gold/OIL/Dollar etc. Sorry, the weekly stuff takes too long to generate signals and is not working out for me.

The last time SPX generated a buy signal was at 1056, which i posted here on the blog on Feb 12. On Friday my system generated a hourly sell on SPX at 1161, which i posted on TT at

Stop for the SPX sell is 1170.

Along with SPX, $WTIC (OIL) also entered a sell at friday close, at 80.97. Stop 83.36

I will try to post updates on signals at the EOD each day, if there's any change to the signal.