Thursday, April 26, 2012

4/26/12 - EOD Update [5:18 PM Update]

[5:18 PM Update]


SPX - Option 3
We all need to really start paying attention to this option I have posted a few times now. I don't think the most recent downdraft looks like a good Minor 4 so this would be the next best scenario should the market challenge 1422 and fail. It can even go as high as 1340.

So I will continue to post this option more to keep track of it.


EOD Update

The bears need to show up to the party here or the bulls are gonna take it all back.

SPX - 5 Min
This looks like five completed waves. 1384 - 1380 may be a good target to buy in if using EW to trade this here. This is not a recommendation or trading advice.

SPX - 15 Min
All four options are in play. Black and green taking charge and threatening pink.

SPX - W Bottom
So far price is back above the 20 day SMA and an imminent daily MACD bull cross on the horizon. This would lead me to believe that a challenge of the upper BB is imminent.
SPX - McClellan Breadth Thrust
Very close to a breadth thrust.
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