The above chart shows the intermediate sideways movement of the market.  I try to show market movements in different time frames.  This is important in giving us perspective in the broad market ups and downs.  Sooner or later the price will break out of this "straddle".  In the mean time we need to deal with the ups and downs of the daily and multi-day swings.
This chart shows the "Battleground" that happened a couple of days ago.  I think we need to avoid "Battlegrounds" as it is there you can take a bullet.  Position yourself on a hill and watch the battle and then go with the flow.  Gold spots show the areas of interest.
More on Battleground and possible breakout.  This is on a 30m chart and needs confirmation on the 60m chart and then it is "full speed ahead".
This chart shows the dramatic and very strong movement this afternoon in the market.  The 30m chart was very positive for a new Bull Potato.   We are just short of getting confirmation on the 60m chart.  It may happen in the AM.
Very stong thrust to the upside.  Perfect entry on the "JA Play".

SPY 20D, 60m - Jan. 20, 2009

This is the most important chart in that it shows the extended bear potato that we have had for the last 9 days.  There was a full scale bull/bear battle for two days that has resolved to the downside at least for the moment.  Tuesday's session was significant in that the internals were very weak all day and became even weaker as the day progressed.  All time frames showed Red MACD.  This potato is very over extended in lasting for this long.  Sooner or later we must get a break to the upside.  There is no way to know when that will happen.

SPY Charts 1.20.09

3M, Daily - Breakout to the downside from a sideway pattern.  Very weak internals.  At this point appears headed toward testing the lows.

20D, 60m.- Bull Potato failed to pass the test.  We now have a continued Bear Potato going into the ninth day. Red MACD.  Weak internals all day today.

5D, 15m- Battleground broke out to the downside.  Red MACD.  Headed lower?

2D, 15m - Is there a bottom?

"JA" has observed that there might be short term trading opportunities by using the 10-30 MA crossover combined with the coincident crossover of the fast line over the zero line in the MACD. 

Today was a perfect example of how that will work.  An entry near 84 could have produced a handsome profit.

SPY 20D, 60m. - 1.16.09 Potato Swings

This 20 D, 60 m. SPY Chart demonstrates the wave like swings of the MA Crossovers creating images similar to sweet potatoes (therefore the name Potato Trader).  Each swing lasted 3, 4, & 5 days with total point changes in the "safe zone" totaling 16.00.  Apply that to a delta of your choosing and you have a nice profit. The system requires patience in waiting for the proper entry and exit points.  "JA" has observed similar findings on the 1D, 5m chart for intraday trades.

SPY 1D, 5m -1.16.09

"JA" has observed that on the 5 min. chart there are consistent crossovers in the 10 & 30 D moving averages that coincide with crossovers of the zero line in the MACD.  These are marked with Gold Spots.  This is a very interesting observation and may offer short term profit opportunities.  Back testing is encouraged.

SPY Charts 1/16/09

3M, Daily - Primarily shows sideway market for the past 6 weeks.  The final candle did finish higher following seven down days.  This could be the rule of 7 & 3's if you are into numerology.  MACD is "red".  The 10, 20, 30 Moving Averages are all very close together and non-directional.

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20D, 60m. - Potato Trading requires that you recognize the "Sweet Potato" formed by the crossover of the 10 & 30 moving averages.  You either have a "Bull" or "Bear" potato.  A new potato must be confirmed on the 30 & 60 day time frame to be valid.  In this case the 60m. chart has NOT confirmed as the candle has not completely formed above the 30D moving average.

(click to enlarge)

10D, 30m. - On this chart a "new" bull potato is forming (not yet confirmed on the 60m. chart).  The market gapped up but had weak initial follow through to the upside, however, it did rally in the afternoon to form a higher low and it did close above Thursdays close.  Black MACD is noted.  Early bull warnings are seen at green spots.

(click to enlarge)

5D, 30m. - Larger view of prior chart. 

Wedge formation with very tight pattern of moving averages (market undecided).

(Click to enlarge)

2D, 15m. - Note the double bottom on the reversal at midday.

Overall this was a luke warm reversal with a significant lack of thrust to the upside.  We are facing a three day hiatus in the market with an inaugural ceremony on Tuesday which leaves a lot of guess work in the mix.

(Click to enlarge)

SPY 3M, Daily - 1.16.09

The primary observation on this 3M, Daily chart is the persistent sideways movement of the market in the past 6 weeks.  We have remained in a relatively narrow range.  The final candle did finish to the upside which was a break in the trend in that the market had been down for seven days in a row. Perhaps the "rule of 7 & 3's" played a part if you are into numerology.  The 10, 20, 30 Moving Averages are "tight".

(Click chart to enlarge)

The above chart shows the dramatic rise in the price of crude oil and then its rapid decline in value over a very brief period of time.