Yellow Light

We back tested the 50% short again today.  This means one of two things.  First, we are stuck between the last highs and lows and we are just going side ways.  Or Second we are headed down.  If we break the long rectangle at 198.52 we will move down to possibly fill two gaps below around 190 and 186 on the SPY.

Yellow Light

We bounced of the 50% short.  So we should go down from here, BUT still waiting for conformation of the move.  We are still sitting on hands waiting for the market to tell us what to do.  Right now it's just flapping its lips with no good information.

Yellow Light

We bounced off the triple bottom.  I almost got long but I held back waiting for a confirmation move of the market.

Yellow Light

Looks like we are going to start a down trend if we break the blue box.  We never got higher highs over the last 25 days.  Not a good sign for going up.

Mixed singles on the weeklies.  But that is expected when you go sideways on the daily.

Monthlies are showing a roll over and a pull back.

Yellow light!

Market moved lower today.  I closed out of all my contracts so I am flat in the market.  I will wait until we break the lower support or move up to make a higher high before I make another trade.

Green Light with a RED Light below the box

If we break the 198.54 to 197.85 box will we will sell off fast.  So HEADS UP.  Looking up long for now.

Green Light

We still have a green light but the market keeps pulling back.  I had 3 free trades, 2 were taken out flat, one is still on long.  We are still going sideways.  The hardest market to trade is sideways.  If you're not sure what to do sit on your hands for now.  I will let my last runner go and see what happens.

Green Light

We had the pull back to the 61.8% and longs still look good but weak.  All you can do is play what you see.

Green Light

Looks like we will get a pull back to the 50%.  Place  your stop below the 61.8.

Green Light

Look for the pull back to the 50% and go long.  Stop below the 61.8%.  We normally don't get a HBL in an up trend off a pull back.  This does mean the market is waiting for its entry to go long.  I did get in earlier this morning on a smaller pull back but I had to put my stop below the 61.8.  Large stop.

GREEN LIGHT!!!!

Europe dumped 1 billion into the Europe economy over the next 2 years.  Up we go.  We broke the 61.8 and now looking good for longs.

Yellow Light

ECB came out with new to buy back a billion bonds.  Market is wild because of it.  I scalped several trades but no longs or shorts until the market settles down.

This is a 15 minute chart after announcement.

Yellow light

We hit the 50% half way back short to the tick.  So we still sit on hands.

Yellow light

Market is confused and not sure what to do starting the beginning of November.  Its like it is waiting for bad new to drop.  Waiting to see what happens before going long or short.  Market is still in an up trend but looking toppy.

Yellow Light

Still sitting on hands.  Still in my long SPY.  It is a free trade. (took half off and moved stop to entry).  So I'm just sitting here waiting for the market to make up its mind.  Don't play this until you get a move above the 203.43 or below 199.80.

Yellow Light

The SPY bounced off the 5% pull back today so I went long in a call options.  I placed my stop 5 ticks below the 5%.  Double bottoms tend to hold but not always.

We do have one issue and that is we have not broken the half back short yet.  I took half my trade and now I have a free trade. Second is it is a 3 day weekend and you don't want to be to long or short in the market with out protection over the long weekend.  Hoping it will go higher.

Yellow light

We did not break the 5% pull back yet.  I did not get filled on my half back short.  The SPY did not make it back to the 50% retracement to fill my order short.  So I'm just waiting for the market to make up its mind.

Yellow Light, Green light Oil

We did get a double bottom and we hit the 5% pull back to the tick.  We will see today.  I am going long in oil stocks options.  NFX and USO.  Also looking for a long term oil trade in the futures contract CLG15.

Also looking for a long term oil trade in the futures contract CLG15.

Yellow Loght

Waiting for entry at 203.80 short with a stop at 205.09

Yellow Light

We did close above the 61.8 to the long side.  That is our only hope for a long.  But I'm waiting for confirmation before going long.  Everything else is showing short.  We may just go sideways until the market picks a direction.

Yellow Light

The market popped and dropped today with no clear direction. I did get another long on the SPY and was taken out in the afternoon. I will wait for the market to make a decision before taking another trade.  

We broke the 61.8 long and short. This equals market indecision.

Yellow light

We had a gap fill today.  After the fill the market did not take off to the up side.  Not much buying pressure today.  I did go long in SPY today at the lows again.  Not sure what is going to happen next so we must wait until the market tells us what is next.  Sit on hands or step into a small long here.

Short term Yellow LIght.

Except a pull back to fill the gap.  Go long at that time if you missed the long 2 days ago.  Place stops below the 61.8 at 202.64.  Give it a little room to move.

Green Light

Went log is stock and indexes yesterday.  Be careful because we had another gap.  That is two gap up trends in a row, that are fairly large.  Most likely, gaps fill.  Larger the gap the better chance it will fill.  This may also mean the market is getting tired.

Yellow light

We did not get a higher high today.  SPY went to the exact high of the previous day.  This maybe a good sign because we did not break the half back long 61.8% of the Fib at 200.74.

I'm in light with POT and SPY options calls at the money.  Place stops below the low of the day.  SPY tomorrow  will give us another clue at the close.