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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

The Chunnel Tunnel in Effect

chessNwine Wed Oct 29, 2014 2:45pm EST 4 Comments

the-channel-tunnel-traveling-under-the-sea-18461_4

The SPY intraday chart, below, shows a falling channel since the open this morning.

Even with the FOMC announcement of the end of QE, the chart has not yet broken one way or the other.

In determining whether to swing some index longs or shorts, this chart is going to be one of my key reference points.

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4 comments

  1. JB
    JB
    October 29, 2014 at 2:48 pm

    My chips are on the bears… close above 198 and i’ll flip sides..

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  2. speaking alfalfa
    speaking alfalfa
    October 29, 2014 at 3:35 pm

    ES now higher than when FOMC announcement was released. https://www.youtube.com/watch?v=POXTo-Y68KM

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  3. boyaj
    boyaj
    October 29, 2014 at 3:54 pm

    Chess, target on UNG hit over 12.70. Did you get in UGAZ yet, or waiting till tomorrow? By the way, love the idea. Thanks for the advice and for pointing out the trade.

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