StockCharts Messages – 12/10/12

  • These messages are never edited from the original post.

MARKET MESSAGES

12/10/12 – MON

We have been in  a consolidation pattern or rolling top for several days.  It appears that we are in 3rd step up and we “should” better the prior high at 1425.  If this is a rolling top, the new high would be minimal.  See the dashed yellow lines for indications of a possible reversal point.  A strong thrust through this line would indicate a breakout and the likelihood that we have been in a consolidation since December 3rd.

12-10-12 SP FUTURES 160 MIN BARS

The white trend lines show that we are still in an uptrend, but it’s hugging the bottom line closely.

12-10-12 SP FUTURES 35 MIN BARS

The chart below is the 5 day EMA trading system (see MY CHARTS chart #30.4 and notes below this chart).  It’s a relatively good way to stay in the market for the broad moves.  The lower line indicates the amount above or below the yellow EMA line.  The upper yellow line is a 70 hour (10 day) EMA instead of the system’s indicated 5 day EMA (35 hour).  Although it doesn’t get you in or out as quickly, it does have fewer whiplashes.

12-10-12 5 DAY EMA 60 MIN BARS

 

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