Trader Tony » pullback http://tradertony.com Trading isn’t farming, nobody needs a cow to do the “work”. The work is done in the mind. Mon, 28 Jun 2010 08:11:56 +0000 en hourly 1 http://wordpress.org/?v=3.0 Stock Market Direction. SPX, EUR/USD http://tradertony.com/stock-market-direction-spx-eurusd/ http://tradertony.com/stock-market-direction-spx-eurusd/#comments Wed, 27 Jan 2010 23:13:53 +0000 tradertony http://tradertony.com/?p=1110 After a 70 pts. pullback it looks like the SPX index is ready to take a break.

1085 is acting as a strong support and I would be looking for a rebound to at least 1113 in the next several days. The game plan is following – we might go to 1105 from here, then a pullback to 1100 area, and the another leg up to 1113 area.

Currencies also support this theory, with the EUR/USD unwilling to go lower and 1.40 acting as a very strong support. Looking for a pullback to 1.43  in this pair.

My only concern here, is that indicators don’t support my theory of a coming rebound – both Stochastic and MACD show no signs of any divergence whatsoever.

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]]> http://tradertony.com/stock-market-direction-spx-eurusd/feed/ 0 Looking for pullback here. Will buy later http://tradertony.com/looking-for-pullback-here-will-buy-later/ http://tradertony.com/looking-for-pullback-here-will-buy-later/#comments Thu, 08 Oct 2009 17:27:30 +0000 tradertony http://tradertony.com/?p=831 Looking for a pullback to 1050-1060. Will be buying in this area.

spx2-8-10 spx1-8-10

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]]> http://tradertony.com/looking-for-pullback-here-will-buy-later/feed/ 0 Stock market reverses and goes to 1100. http://tradertony.com/stock-market-reverses-and-goes-to-1100/ http://tradertony.com/stock-market-reverses-and-goes-to-1100/#comments Wed, 07 Oct 2009 08:07:21 +0000 tradertony http://tradertony.com/?p=823 OK, so despite all the sense, we are facing another leg up right now. This should definitely get us to over 1100 in SPX. A pretty dangerous zone, if I might add. As I have written in the previous post, current market condition start to look like in 2007, and we all know how that ended.

Still, as a trader, you have to play both sides. The price action for the next month favors bulls, meaning you should be a buyer for now. Some people say, that it is October, the odds are, that the market will selloff pretty hard. But, remember – the whole year of 2009 is against the odds.

spx-7-10 spx2-7-10

The charts are pretty bulllish, right now we are facing a breakout from widening wedge – a bullish pattern. My suggetion is to wait for a pullback and but at 1040-1045 area, with a 10 pts. stop and a target of 1100. Atretty good 1/5 Risk/Reward play.

P.S. I think that the top might be 1111. Its like the bottom in April was at 666. This big guys have some sence of humor.

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