Sunday, August 17, 2008

SPY Chart

Looking at the SPY or what's really the S&P 500, I'm looking for a pullback to be coming...

If you can see through all of the crap I have on my chart, I'll explain why I think that...For starters, since the near term bottom on 7/15 the volume has slowly been tailing off; that's a little bearish in my eyes. Also, using Fibonacci Fan's, the SPY is currently up against some resistance...(Almost done explaining)...The green lines I have drawn, represent a 'bear flag' or 'rising wedge' (which is also bearish)...

Just my opinion of the current condition of the SPY.

EUR/CHF Update...again

So here's another update. I'm still in my short position on this currency pair and I'm really liking the move it made Friday (it went down a good bit). I'm expecting a pull back or a bounce this week and I'm staring at a chart right now because I want to maximize my gains....I'm happy!

Sunday, August 10, 2008

EUR/CHF update

Here's an update on the short position that I'm still in. So far so good and moving in my favor. It took a while to move to the down side but I'll take it. I'm still in the short (1 mini contract). I'm using the Weekly, Daily, and 2 hour chart to look for an exit. Above is the daily chart and below is the weekly chart. The weekly looks more bearish