SPY 15-minute, 2 week chart
Pop goes the balloon.
Can Sarkozy/Merkel patch it again?
55 on the radar
Since my last FAZ chart, I've added a lower megaphone line to account for the new recent low sub-50. Since the downtrend of 6 down days in 7 sessions, price seems comfortable in this new range with 55 as a key level.
Update 1:35 pm Back at the desk after doing some of my work outside (therapeutic to say the least). I bought FAZ earlier at 56.00 and sold at 56.08, them bought again at 56.35 and sold at 56.55 afterhours. Both times I used stop orders, once on the downside and the other on a potential upside. I like FAZ, obviously, but with AAPL reporting tomorrow and the potential of Goldman Sachs and Bank of America lying (again) during their earnings reports tomorrow, stay 100% cash is good enough. Besides, FAZ often works better as a day trade rather than an overnight hold.
Looking to enter AAPL, which is at 419+ afterhours, down 0.7% today.