The trading diary of Paul J. Singh. I trade full-time and empower traders by making the complex simple. I can be contacted at SinghJD1@aol.com
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Monday, December 22, 2008
X: Low Risk Setup
X provides a low risk setup as it pulls back to the 50 day moving average. If the market tanks, X will go down with it, but losses are easily managed at this level.
Think SPY will tank? RSI dropped below 50, it's below its 50SMA, 5ema is under the 10ema; I'd really like to see the macd turn over, but stochastics are overbought and turning. 90 hasn't exactly been a level of strength...
Think SPY will tank? RSI dropped below 50, it's below its 50SMA, 5ema is under the 10ema; I'd really like to see the macd turn over, but stochastics are overbought and turning. 90 hasn't exactly been a level of strength...
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