Mar 19, 2013

Short term update

UPDATE: The stop was hit... currently not exited neither on the long side nor on the short side. The oscillators are reseting but the price is not following which means we are not finished on the upside. I hope the current move will go lower to at least 1530 and it will not be some ugly triangle.

UPDATE: Too much strength put the stop at 1551 and leave it. If SP500 opens higher and moves up break even.

UPDATE: Do not get too exited I think that there will be one more deep retracement or test of the high before the real correction. There is a lot of support levels bellow 1530-1525-1515. I think the 20 day cycle has 2-4 days more (currently at 16) before the next one begins and moves the prices higher.

The signal from yesterday works very good for now:) and if some one has jumped on the premature signal around 13 o'clock has even 5 points more yeah:)
I would move the stop at 1554 which is several points above EMA50 on the hourly chart. The price has noting to do anymore at this levels if it will move lower.
Trading system signal (swing trading) - Direction: DOWN | Last entry signal: at SP500=1551 on 18.03.2013 | Stop at:1554

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