January 5th 2010 Update

Well today we got what I wanted to see. I wanted to see us break thru the top of that local triangle and close at that level. And that is exactly what we did today.. This is a bullish signal to me.

Long Term - hasn't changed (see below)

Short Term - Stays the same also, however I wouldn't be surprised if we get a gap and run up tomorrow..... To me we are set up perfect for that... However pullback to 1125 first is still on the plate.

Trade advice/opinion - Stays pretty much the same, expect I am more confident on the upside here since we broke and closed to the topside of the local triangle.

SPX 30 min - Shows breakout and close above local triangle... Also RSI, Stochastics and MACD all telling me that tomorrow is a bull day...

30 min SPX Gann- Yesterday I posted that the middle black gann line would come into play... Well look at it now? We are bascially following that line up... However I think the top black line may come into play soon if not tomorrow. Do we gap and run to it? I think we do, maybe not tomorrow but soon. Note: pullback at 1125 (gann lines) could still be in play...


SPX Daily - Key here is the RSI again... If we get a gap up tomorrow we break that trendline and watch out, up we go... Still want to see that confirmation..!