Tuesday, November 15, 2011

Morning post 1/15/11, SPX

Running a bit late this morning, sorry.

A couple of simple charts to tell the story -

Minis Daily - Here are all the meaningful trendlines, channels and wedges. Believe it or not I am finally starting to make some sense of this mess as form comes into play finally.

Minis 30m - Support and resistance are very clear 1257, 1245, 1236 and 1220 are the numbers you need to know.Price consolidating now under busted blue wedge support diagonal. Very very controlled moves in this range with clear s/r point.

Minis 1m - Moving back up to 1245 resistance and challenging the VWAP (pink) at the open. Trading above the 1m 200ma. 1236 tried to crack this morning. Nice stick save Ben!

Remember the reason for the season.

GL and GB.

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