Thursday, October 7, 2010

10/7 1:00

Dec SP futures 1:00 close 1149.25, which is a 30-minute M/A sell signal.  Now the 30-minute M/A becomes a sell point on the upside.  Since we are bouncing off of the 5min,370-unit M/A I'll sell at 1155.50 Dec SP futures.  I'll also sell at DJI 10,937.
My stock trading platform computes exponential moving averages using a different means than the normal exponential input variable (number of units).  Therefore I am using a 5-minute, 370-unit EMA now to approximate the value of my trading platform.  The platform computed critical resistance as 10,892.5 when DJI came down to 10,893.5 low.
Got a comment to look at silver.  It's off a buck from it's overnight highs.  I would need an hourly close 10 cents below the red line M/A:

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