Wednesday, October 14, 2015

Oct 14 - Mild weakness on open

The ten minute chart showing the reentry today into SPY short.  Assuming my daily system's signal works out, have 1:3 risk to reward which are good odds.  Will def close short if this works at positive divergence on the hourly and/or diminished daily volume and will close at least half at 195 if we fill that gap.




Still remains to be seen to see if today we get follow through.  The open was not promising to the bears as when the market opens flat after a first down day it usually means a short squeeze.

VIX stochs/ CCI on buy signal on the daily but otherwise this is a wait and see day to see if yesterday was just a fake out.


Weak buy signal on 30 min which is something to watch for.
 VIX looks eager to move up.

2 comments:

some0ne said...

almost seems like the quiet before a storm coming.

Greenlander said...

I hope so. If we get a down day with higher volume it will give more confirmation to the short signal. Still not out of the woods though.