Divergence

SPX (and Dow Jones) are both sporting divergence similar to the Oct '11 timeframe. Last time around, the market rallied for 6 months. If history repeats, we should see new highs if not a 6 month rally!

SPX

End of correction?

SPY, DIA and QQQ all look to be at a place where we can call an end to the correction. If we get good CPI numbers tomorrow, we should gap up and go to begin the final leg of the rally towards a new high.

SPY

DIA

QQQ

All the best to your trading.

TradingJackal's photostream

TradingJackal's photostream on Flickr.

Looking for gains ahead based on the divergence. We should be starting the final leg up of this 5 wave move from the last divergence.

Hello World!

My first post as Trading Jackal!

A bit about me - engineer by training and trade. Ventured into trading post 2007 collapse. I was  upset. My savings so far had been in 401K and when it dwindled to a third of what it was, the engineer in me wanted to solve the problem.

So, after 4 years of trading and losing my shirt twice, here I am - wiser and respectful of the powers of the market. My trading has evolved into following the Price Action (PA) with a bit of TA sprinkled in. My favored indicators are SMA 5 and Bollinger (2,14) bands. I am a very short term trader, trading ES futures for a few seconds to less than a hour. I am not an investor.

I don't have a plan or intention around this blog. We will see how it goes!