Current trade today - Day trade with WSS

Still full short with real money (small cash trade account)

Continued 4th tomorrow?

Just looking at the recent activity. The trend is, but i'm wondering if this resistance trend line break may act as a bouncing zone for up movements.

And the exit

Exited right at the close.

3:15 update short trade going as plan.

Looking for bullish divergence @ the support trend target to exit.

Short trade set up.

I'm currently short, but seeing an oppertunity here for a short trade if your in for short (time-frame). This also could be a possible inverse H&S for the bull side of the argument.

Watch this chart real-time HERE

My Perfered Count Using Renko

Renko is a useful tool because if takes time out of the equation. It is especially useful in times of high volitility or extreme slow markets.

Sector follow up.

Well 1065 was broken for a short period of time but held up lead by XLY, XLF, XLB. If you look at XLY the trend was not broken and stopped exactly at the trend. I'm keeping an eye on that sector as we go along. Were hitting a corrective wave here that I'm thinking is a wave 4 for SPX.

Here is a current chart of XLY.

And here is SPX

Sector BreakDown Experiment

I just went through XLY, XLV, XLU, XLP, XLK, XLI, XLF, XLE, XLB and gathered some facts about them. I made a bearish/bullish view toward each item. The items are not wighed so take it with a grain of salt. I'll post each chart (daily) below. 

Click to Enlarge above

XLU, XLE and XLB seem to have broken the trend and now fighing to get past the previous lows and also below the 150/200ma's. XLE and XLB are both below RSI 30 and are lower in RSI then the March 09 RSI low. I would consider XLE and XLB are more oversold than any other sector as of tonight. XLE and XLU of these 3 have hit the 38.2% retrace from March 09 lows to the most recent highs while XLB has not.

XLY Seems to be one sector that has more room on the downside before it nears the positive trend base that they all typically share.

Knowing that SPX is more heavy in XLK and XLF I want to look at those to sectors to see what I can gleen. XLK seems to be more down side potencial than XLF, but something interesting about XLF is that the Volume is not typical of the other sectors. It is not larger than average and the sell volume trend is not going up.

XLB                                            XLE

XLF                                             XLI

XLK                                                 XLP

XLU                                                   XLV                                                  

XLY

Exited out of long as soon as the market opened.

I also went short as soon as I could after the sale. I expect a hard test @ 1065 trend line on the daily to happen. If broken I believe were heading to the 1000 level fibs on the daily chart.

Current short-term trade

Established a long position for a short-term trade. I'm still thinking we get a low past 1065 or a strong test of it before I turn neutral from bearish. This is a very high risk trade fighting the longer-term trend.

EOD Update

VIX

Holding cash looking for the next short entry. (look at the yellow circles)

Trend break?

To the upper fib lines?

Mid-Day Update

I sold my real $$ trade account short SPXU at the trend break off of the 5/10 minute chart and held cash. I'm posting the trades on the 30 minute chart, but I'm using the 1/5/10 minute charts for this current trade. I went long in WSS for a quick turn day-trade. Interesting stop on this chart like it remembered the older trend line. Also take a look at the daily. The stop is also at the old existing trend line as well. I'm keeping an eye on that as a stop on my long WSS trade if that trend line breaks.

Follow these chart in real-time as I exicute this trade win/lose/draw HERE!!!

Trend break of the rising wedge

My thoughts are all on the chart.

Some CILCharting fun: If you don't know, CIL is an online trade community that I sometimes hang out at. Goto Columbia1 blog (link on right) and scroll down to the bottom of this blog. Fun times!

10 minute chart thoughts

Waiting for this trend to break. The setup is here, off bearish divergence look for Gap support area as target.

Current count.

After yestedays action I believe the wait and the hardcore bear that has grown weak and scared (like me) has been awaken from our slumber. I believe we are not in a corrective patter from the 1219 high to the March 666 Low.

I do not believe we have finished wave 1/A down yet. I think we will pass the 1065 in an ugly looking 5th wave before we correct for 2/B.

The Exit Short... Broke Even

I exited the short position @ 1170~ish the other day. I'm slammed with work so I'm not documenting much. I saw the 1150 as a very strong support and wanted to get out of the short position even though I saw more downside potential. I'm looking for a retrace back up once the sharp down trend breaks to the 1185. I might trade this correction in the trade option of bullish divergence +trend break to fib retace range, but I'm not sure I will be watching the markets enough to do so. Just wanted to pust this chart.

~happy hunting