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Yesterday the Bear seemed in charge.  "Where were the Bulls?"  They were back today!  The outcome is unknown at this time.  The 30m. Chart looks like a new Bull Potato.  It has not been fully confirmed on the 60m. Chart.  "Jump the Gun" positions can be taken but at some risk.
10D, 30m.- Feb. 3 - A very decidedly bullish move occurred late in the session with more positive internals.  Note the Gold Spot.  All of this looks very positive for a continuation of upward movement but (big but) it has not yet been fully confirmed on the 60 minute chart.
20D, Hourly - Feb. 3 - Confirmation is close but not quite yet.  There was bullish activity today but there was a lack of momentum and "conviction" in the move.  I would be cautious.
6M, Hourly - Feb. 3 - Long term chart which always needs to be kept in mind.  "Bearish."
2D, 5m. - Feb. 3 - "JA" play of the day.  Ck the Gold Spots.  With courage you might have done well.

Bear Day 3 - "What's for Dessert?  This is a real picnic.  Where'd all the Bulls go?"
1D, 5m. - Feb. 2 - Take note of the divergence between the market action and the MACD.  This was a nice signal to go long on the "JA" play late in the session.  A full point was easily gained.  Otherwise it was a sideways day following two days of bearish decline at the end of last week.  A sideways day following two down days could mean another decline on Tuesday.
10D, 30m. - Feb. 2 - This was the third day of a Bear Potato.  The close was within the "Devil's Den (zone of temptation)."  In fact it closed right at the 20D MA which leaves us in suspense about tomorrow.  Where the market opens will be very interesting.
20D, 60m - Feb, 2 - Three Potatoes are seen on this chart.  Take note of the duration of each.  In a bear market the Bear Potatoes tend to be longer than the Bull Potatoes.
3M, Daily - Feb. 2 - The Daily chart continues to show a Primary bearish trend and this needs to be kept in mind all the time.  There is an important primary support level at near 80 and another at 74-75.

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Bear Day One (or Two) - JA30 - The Bear has won out!  We now have a new Bear Potato confirmed on the Hourly chart.  The 30 minute chart committed yesterday and the 60 minute today.  Our experience has demonstrated the safety of waiting on confirmation on the Hourly.
20D, 60m. - JA30 - The chart above clearly shows the prior Bear & Bull Potatoes.  The latest crossover on the Moving Averages on the Hourly chart confirms the move already established on the 30 m. chart seen below.  All charts can be enlarged by "clicking on the chart."
5D, 30 m. - JA30 - The 30 min. crossover occurred yesterday.  30 m. trades can be taken but at greater risk.  Prudence calls for confirmation on the Hourly.  You may feel you are missing part of the move but you can manage your position with much more confidence.
5D, 15 m. - JA30 - Two day channel to the downside.  Bear Potato is underway.  Our observations have been that Potatoes usually last 3 days or more.  
3M, Daily - JA30 - Primary Trend is Bearish on this long term chart.  It is always wise to keep the Primary Trend in mind when managing swing trades or intraday trades.

Bull Day 5 - Battle rages between the Bull & Bear Potato.  Compare 30m. & 60m. charts.
3M, Daily - JA29 - The market failed to follow through on yesterday's bullish trend and strong internals.  It gave back all the gain of yesterday.  We may well be sinking back into the Primary Bear Trend within what has been a sideways market for the last 6 weeks.  The market may well try and test the recent lows of 8 weeks ago.
10D, 60m - JA29 - The down trending market today leads us to the very real possibility of forming a new Bear Potato.  The chart above shows the crossover of 5 days ago to the upside with the well outlined bull potato.  With today's action the slower 30D MA has been penetrated but the actual crossover has not yet occurred which would be confirmation of the Bear Potato (our criteria).
10D, 30m. - JA29 - Crossover has already happened on the 30m. chart.  You can appreciate the battle between Bulls and Bears in the earlier Gold Spot.  There was a lot of volatility at that time which made "jumping the gun" risky.  The Hourly chart helped smooth that out.
2D, 5m. - JA29 - The "JA" play occurred at the open with the market marching lower all session on very weak internals.  Entry was when the zero line was crossed (Gold Spot).  There was a 1.50 spread in that trade to the downside if you had the guts to play it in the face of what had been an uptrending market prior to today.

"Bull Day 4" -  The Bull Rally continues with Strong Internals.  We started weak but the momentum has increased.  The "Red Bull" showed more high spirited action today. 

                                             (Click Charts to Enlarge)

3 Month, Daily - JA28 - What had become a primary bear trend is now showing signs of possible reversal.  This possibility is not a done deal.  More work to the upside would have to occur to confirm this change.
10D, 60m - JA28 - The one hour chart clearly shows the continued Bull Potato move.  The market gapped up and the trend continued up on strong internals.  There was profit taking and a hard pull back late in the session which was followed by a strong recovery into the close.  MACD black entire session.
5D, 30m. - JA8 - Gap up to open followed by trending day that more decisively confirmed the Bull Potato move to the upside.  MACD black all day.
2D, 15m. - JA28 - Up trending session with close near the high.  The momentum today set the tone for possible continuation of the rally on Thursday, but we know from past experience that this market is very volatile and anything can happen.

"Bull Day 3" - The Bull Prevails in Spite of Our Thinking and Emotions.  The Technicals tell the story.  The Market will do what it Wants to Do, Not what we Think it Ought to Do.
3M, Daily - The underlying trend is Bearish and needs to be kept in mind.  All bullish positions should be guarded carefully and considered short term.  This Bull Potato has very shallow thrust or angle of attack.  The Thrust Angle is on 15° which is weak.  Potato Thrust is a new concept that I have started to study and I believe it will be helpful in assessing strength of direction.
20D, 60m. - Bullish Potato contrary to the Primary Trend as demonstrated in the 3M, Daily.  This is a relative short term directional trend and should be accepted as that.  This is not a longer term reversal of market direction.  This is not a "Bottom."
1D, 5m - First of all this was a very choppy day with lots of ups and downs.  The "JA" play was tempting on early morning action.  Our observation is that we need to be skeptical at the opening.  In addition we need to "go with the flow".   That is we need to observe the current short term bullish trend of the market and take positions that flow in that direction.  In other words the play near mid day made more sense and would have been profitable (it went with the bullish trend).  There may be exceptions to this but we need to put the odds in our favor.

Bottom line at this point is that we are in a Secular Long Term Bear Market as well as an Intermediate Term Bear Market punctuated by a very short term Bull Rally.  Our decisions as traders need to keep these facts in mind.

Potato Trader Opinions

Bull Move Crossover Recognized

SPY 20D, 60m. - The Moving Average crossover that occurred Friday continues to develop even though it is without strong and consistent thrust.  The technicals cannot be denied so we do have a Bull Potato.  The Black MACD is bullish as well.  Since the market is the market we cannot impose our feelings into it so the Bull has been posted.  The next day or two will be interesting as usual.