Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Wednesday, December 23, 2009

paralisis of analysis

Many lines and variations. Counts and variations of counts.

Is it possible that is a 3 Push?

We are going to see, it's a tough bunch of charts. Don't drive yourself nuts.


Tony said...

I do find it odd-- altho maybe irrelevant-- that the SPX is making a higher high today while the SPY has not.

In fact the SPY has had two successive lower highs on the last two swings. The SPX has made two higher highs on those swings and appears to breaking out of its pennant.

I don't trust the breakout because of the discrepancy with the SPY. A short entry here could work for the next potential swing down and the 112.38 high on the SPY gives a clean stop.

The Mop said...
This comment has been removed by the author.
Tony said...

ex-divvy explains the recent discrepancy. Thanks.

Yes, wait for the swing to break-- looking at 60-min and 130-min charts... or would you just use the daily?

Eric said...

your spy spx conundrum is because spy went Ex-dividend/distribution a few days ago, you should be able to see it in your chart.

Wait for the Swing to break.

I'll do a post; below 1117spx without a new high.

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