Luna $ Ticks

October 28, 2008

Intraday Update: my edge for now

Filed under: Trading SPX SPY — moontrader @ 12:33 pm

Quite simle:

Also, just a reminder: as closer we get to the triangle vertice, the weaker the breakout… if it occurs.

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9 Comments »

  1. No need to stop IMO. Very likely a breaking will fail, nothing fundamental could support a multi-weeks rally. We are heading to Abyss soon.

    Comment by positiontrader — October 28, 2008 @ 1:02 pm | Reply

  2. Great analysis. In an ordinary triangle I would agree with you that the closer to the vertices (apex), the weaker the breakout. However in my experience when a triangle forms within a triangle into the apex (which this appears to be…?) the breakout is much stronger.

    Comment by tradingaces — October 28, 2008 @ 1:10 pm | Reply

  3. tradingaces, that’s good to know.

    Comment by moontrader — October 28, 2008 @ 1:20 pm | Reply

  4. Are you inclined to go long Moon?

    Comment by Rainman — October 28, 2008 @ 1:24 pm | Reply

  5. Well, today was the day for a crash! I don’t see one as yet. Should we still expect one?

    Comment by bullnbear87 — October 28, 2008 @ 1:39 pm | Reply

  6. No crash, no crash. That’s it. At least not now. I covered my short position right above that line and am waiting for a good entry point, either long or short… you know, I play on both teams, I am a bi-trend.

    Comment by moontrader — October 28, 2008 @ 2:20 pm | Reply

  7. Looks like Dollar dropped after 2 PM causing equities to rally

    Comment by Rainman — October 28, 2008 @ 2:21 pm | Reply

  8. Hi Moon,

    It’s time to command “GO Long”. (I actually went to Long 1 hour ago)

    Comment by David YZ — October 28, 2008 @ 2:26 pm | Reply

  9. David, yes, we might have a medium term trend reversal here, congrats on your trade… again!

    Rain, market might have found a balance point.

    Comment by moontrader — October 28, 2008 @ 2:28 pm | Reply


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