This is the way we did things a couple of years ago, it was a much simpler time, we weren't hitting opportunities that could be intraday or even day trading, but the outlines were perfect for understanding the situation in front of us.
Since I had to reboot a program I went back to the old school charts, simple, clean, effective.
Here's what we are going to end up with near the close, I'm actually considering lightening up on some of the leveraged long even though most were bought at pretty good prices, what started as a decent pullback last week is getting uglier.
DIA 5 min-LEADING negative
DIA 10 min LEADING negative
DIA 15 min, leading negative.
IWM 1 min leading negative
IWM 5 min leading negative
IWM 10 min, leading negative-badly
IWM 15 min leading negative
QQQ 5 min leading negative
QQQ 10 min Leading negative
QQQ 15 min relative negative
SPY 5 min leading negative
SPY 10 min leading negative
SPY 15 min leading negative
These 15 min charts weren't part of the deal late last week-Friday, this has me a bit concerned for leveraged long positions.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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