Swing Day Setup Wed 9-30-09

SPY Swing Day Setup

whenever the last trading day opens higher than previous day and closes at the low, we call that a swing trade setup . Most of the time they play out the next day as a sell day.

This also lines up with the 60 min Spy chart ABC wave structure,

And The Transportation Index down day setup. with the Weighted Moving Average and the Volume Weighted Moving Average Crossover along with the DMI all pointed down.

This is all happening all at the top of the long term Bearish Rising Wedge.

My plan today is to sell the Spy at 106.35 -50 and exit at or below 105.00 down to an extreme of102.50

Pre Market TAO Tues 8-25098

We Have a Swing Day Setup on the SPX . The best way to trade this is if the price gets to the Friday high early in the session I will sell short there ... with a target of Friday low... If the price goes to the Friday lows early and then back up to the high I will most likely not trade this setup. In other words.... I would like to see an early up tick first but not to far above Fridays high the a sell off.


To Day the markets are somewhat mixed.

Es Futures Sold down to Monday lows and are now trading near yesterdays close.

US Dollar is down a bit.

Oil is flat and Gold is up.

Asian Markets sold off and the European markets are flat.

I would wait until the consumer confidence report at 10 Am est. before taking a trade.