August 5, 2010

Morning Post, SPX, S&P 500, e-mini

2:32 - This chart SCREAMS sell me. 

2:25 - HOG breaking out. Simply amazing. Guess the 60m is the one to follow there. It bitch slapped that resistance and the shorter indicators. OUCH - I did not ever enter.
SPX today's triangle du jour and struggling breakout.


12:37 - HOG possible double top short scalp opp here. Of course it could break out from here (which would be expected in this market.  5m rolling over. 10m topping. Keep stops tight. I'd go in light and add if momo comes on a breakdown.

11:11 - TL break and backtest and back at NT support.It just looks like it wants 07 but just can't muster the strength to get there.
That should have ended 5 up and mark the top, but you never know do you? See lower wedge and gap support at 07? We need to hurry if we're gonna get there. LOL, like that is going to happen. Don't discount all the middle east tensions.


9:55 - Got WHEAT?

9:43 /ES - Patience. 30m 200ma is at 14 another support line at 12.


9:26 TZA 35.37 target add on a solid break of the green diagonal.

9:23 PFE 15.69 initial target.

9:21 MOT possible short 7.52 initial target.
 More to come.

Good morning. Today may be a good one for the shorties, but that is not guaranteed.

Your chart is the minis wedge in the last post. Just stare at it for like 15 minutes and chant down, down, down.
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