Additional SPY information.

It's nice to hear some of our short term traders are making money trading the SPY today even in this crappy environment. Here's a chart you probably haven't seen, I don't use it too often, but it's useful.

The rainbow color channels are different length Bollinger Bands, trading them is another story and if there are short term traders who want to learn how to use this screen, let me know. The green and red spikes in the lower window are some custom indicators I made based on Demark concepts. You can see they do a pretty decent job of calling bottoms and tops on this 10 min chart (the white arrows are bottoms/ red arrows tops.). However what I wanted to show you is the Bollinger Bands. If we get this next run up on the SPY, notice that it's been turned back multiple times right in the middle of the blue Bollinger Band Range. The third red box was this morning's turn down exactly at the triangle's lower trendline so if there's going to be a change in character here, the first level the SPY will have to take out is the middle of the bands right now at $132.79, that will be the first hint of a change in character that may move through the trendline resistance.

Anyone interested in this screen, contact me afterhours and I'll send you the template.