Monday, August 1, 2011

SPY Leading

Earlier I mentioned a scenario in which the SPY leads on the 15 min chart giving a very strong signal

Here's the follow up..
 The 1 min chart is leading for the day even though price is hovering near the lows.

This red line is where the SPY 15 min chart was at last update so you can see it's moving up. It is seeming like the move down today which triggered volume may have been as another round of accumulation with the 15 min chart moving up. We'll see shortly. I'm maintaining my long bias in my trades.

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