oil is up.... too many vested interests. 1) Russia its agencies specialize in market direction, notice the pipeline explosions, and other incidents. So basically the CB's trying to break the world markets, so that its opponents don't get more powerful.. the only way it can happen is to destroy the equity market. if world central bankers can engineer a depression like scenario, the oil price/demand will drop like a rock. Otherwise Russia becomes more powerful as time passes. its basically a battle between oil interests and fiat currency producers... thats why a depression like scenario has a higher likelihood of happening. So that Russia can be controlled. watch the link... that BoyBrutus put up, it shows you the large scale games that are played.
it gives you an idea how much it takes to kill the market at the right time. multiple indicator confusion (volatility) at ATR high..is a significant sell signal.
Here is a 60 minute spy chart. This is a three bar pattern, to me this is a failure pattern to get into a reversal. Meaning the high bar, you can set the stop at high of day, etc. http://www.trading-naked.com/Articles_and_Reprints.htm 123 system
filled short at 1473 on the 5 min reversal bar firsttarget 1466 stop 2 ticks above the high countertrend trade