Tuesday, July 21, 2015

July 21 - SPY sell signal confirmed

We still need to see how we close here but so far we have crossed the 50% line on RSI/ CCI on the 60 min frame which is a pretty good confirmation.  We are also getting confirmation on the 2 hr + daily which is making this signal more convincing.  I am short SPY as of yesterday's close but not looking for any home runs here only a 1/3-1/2 retrace to about 209-210.   If we go lower great, but I will be watching the 60 min for oversold readings to consider pulling potential profit off the table.

Currently SPY is confirming the sell signal with a reversal from the black reversal candle printed yesterday on very low volume.  We are also seeing a stoch/ CCI cross.

CCI/ stochs crossed 50% line which is promising for shorts

2 hr timeframe also very close to confirming

10 min chart show there is significant room to go down


smoothy said...

Have you considered posting links to your blog on Twitter? You offer alot and there are alot of traders there.

tellzhang said...

Thank you, Keep the great job!

Greenlander said...

Smoothy not a bad idea. I'll give it a shot.
Thanks Tellzhang, glad you like my work.

Greenlander said...

Smoothy, going to give it a shot on Twitter under 'greenlander1' and see what happens

Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here