Luna $ Ticks

December 16, 2008

Full Bull Mode

Filed under: Trading SPX SPY — moontrader @ 9:11 pm

It looks like SPX has more room to the upside. The rally I was expecting yesterday happened today with high volume, sharp enough to turn Stochastics positive:


Notice MACD entering full positive territory, while prices are above the three DMA’s and Stochastics gives a buy signal. According to the criteria I tend to use (DMA’s, Stochastics and MACD) Short/Medium term trend is definitely up and I expect prices to reach 1,000/1,050 level before a more significant drop occurs.

This is still a very complicated market environment, so I would remind you not to be too greedy, taking lower risks than usual and scaling down positions once you see some profits.

I’m still working on date projections, but I repeat what I posted a couple of days ago: the spiral dominating the correction that started in 2007 seems to be getting weaker, which could mean that this first big leg down is over.



  1. Thanks Moon, I agree with your post fwiw. Tomorrow should be interesting. :)

    Comment by toad37 — December 16, 2008 @ 10:38 pm | Reply

  2. I agree with you at least on the short term. Intermediate term still needs some work.

    Comment by RNJ — December 17, 2008 @ 12:42 am | Reply

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