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Thursday, May 28, 2009

MAGNIFICENTLY ENGINEERED CHANNEL.. IS TOAST

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12:34am

spy daily

rip, but still plenty of potentially stout stuff here i.e. "w", pennant, wedge, breakout support and two trendlines








7:44am
spy daily 2003

i could sure live with a repeat of this. but my fear is that price wanders aimlessly throughout the summer making a mockery of any and all lines and patterns. getting ready to strictly daytrade on indicators if that starts to happen






4:54pm
CLOSING SNAPSHOT

spy daily / spy 1min

paint's finally dry, and imo the highlights are: decent candle with most desirable "w" pattern still in play for the longs, rsi above 50 and %R-30 back above -25

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