S&P500 chart updated 21/10/2014.....
Last Update on 19/10/2014......
"For Monday 20/10/2014 we have to stay above 1887 level shown in chart for a
positive bias. Up to 06/11/2014 we have resistance at 1956.80 level. Crossing
this level and staying above it will auger well for the index and mark the base
for Christmas rally. Intermediate level to watch for stiff resistance will be
1920 odd for the index."
On Monday 20/10/2014 we have held the 1887 level nothing spectacular for the index which was catching its breath for the day. We opened at 1885.62 and made high of 1905.03 with low as 1882.30 and closed at 1904.1. So above 1887 one could made profits.
On Tuesday 21/10/2014 we again were above the close of 20/10/2014 1905.03. With open equals low at 1909.38. High of the day at 1942.45 and closed near the high of the day at 1941.28. So follow up action seen on the index. Level to watch was 1920 which was crossed intraday and safe traders who missed the action at open would have been safely long above 1920 with 20 points profit for the end of the day.
Now watch the square in chart how price is moving in it. With the close above the 50% of the square we are in recovery mode. Also we have hit another important angle with today's high. More follow -up action needed for the index. Now stop loss at 50% of the square and buying or pyramiding above the angle resistance. We are nearly 120 points above the low of 1820.66 with 75% of the lots booked at 50% of the square. Holding 25% with the stop loss.
If you know how to work out in the price time square you will survive safely with any volatility of the markets. For this one should work out the square parameters thoroughly and take positions confidently. The level of 1956.80 is price and time squaring level which is derived by the same method and will act as a guide whether we are ahead of time , on time or behind time.
Updated many times on blog October 2014 will be volatile; use your stop loss and
money management rules strictly.....
Its not over till Its over......
The Fittest will survive in this Markets and Hopers will be Losers......
Happy Trading !!!
