$SPX : it had the two doji's monday and tuesday, and up from there. Risk was 9 points.
3 of 4 leaders did lead up at the doji's, now they are starting to lead down.
Model1 in astro says down to 11.feb.
<a><img src="http://www.aksjeinfo.com/trade/sp500.gif"></a>
It's a cost(interest rate) because you only put up a small part of the cost of 500 or 1000 barrels of oil that cost $55000(1000 barrels). But it's probably not so much as $1 per barrel.
http://realtime.agedwards.com/barchart/sites2/pl/_agep/quote.asp?sym=CLJ5&mode=i&ageContext=public
$SPX/ES : two "doji's" monday and tuesday would be fine to make a A-pullback. Long bars down would be bad.
My opinion/rule : It's normal to make a A-pullback after two of size a-pullbacks(see my link 13.dec for more).
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<a><img src="http://www.aksjeinfo.com/trade/s9.gif"></a>
TA for $WTIC on Stockcharts.com will be completely wrong for patterns of size 0-4 months. Use CL1! or actual contract name(CLG07) on Futuresource.com(CL1! today is CLG07).
Or use USO on Stockcharts.com for the ETF.
CL : the chart shows the advantage of using 2 bar entry-trigger on this size G-pullback in Crude oil. Same for A-pullback. I use one bar on g- and a-pullbacks.
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My opinion :
ETF's have more "perfect" shaped patterns than stocks. Anyway, most stocks follow it's ETF.
3 groups to watch :
1. SPY, DIA (total market)
2. XLE, OIH, GDX/$XAU (oil-, gold-stocks)
3. XHB/$HGX (homebuilders)