The S&P 500 is continuing with its Downtrend on the 1hr chart. Looking to keep Selling Rallies until we Violate the last swing high. We can Target the lows for Target #1 and then 1.27% Fib Ext for Target #2
When I recently mentioned that I largely didn't use a chart when scalping /ES, I got a bunch of queer looks out of people. "I just use TICK," I explain. "You know, TICK?" (NYSE Cumulative TICK). More puzzled looks. There's a lengthy Investopedia definition of the thing, so I won't bore you with those details; I'll just explain how I use it. (Note: I use the...
We are still looking for pullbacks on the $NQ. For that matter you look to the $ES and the $RJ for the same. However, we like the $NQ and will look for the Trigger Zone to get long. The market is in dire need of the pullback and hopefully will give us the opportunity. We WILL NOTE chase at the thee levels. Be patient...the players that be are hell bent on...
We will be looking for a long entry on the E-mini S&P in the trigger zone. We could get a nice move off the trigger zone. However, we will keep a tight leash on this. Earnings have been dismal at best which may place pressure back on the the market. Remember: NO TRIGGER - NO TRADE!
Looking at the es and time with fibonacci on a x axis, price seems to have a reaction at the 27.2 - 61.8 - 78.6 fib ratios. Using the October 2014 low to May 2015 high as anchors for the x axis, from observation the 27.2 - 61.8- 78.6 have made alternating highs and lows. From October 2014 to May 2015 the 27.2 was a low, 61.8 a high and the 78.6 a low. From the...
October 2014 - October 2015 coppied and pasted on to years 1965-1966 correction rally and correction. Here is a possible fractal where current price could be following or rhyme with years 1965-1966. Both periods had an initial correction (october 2014) both periods had a powerful rally out of the correction lows that made a similar % move and time move from lows...
Commercial net interest was stronger at the current yr 2015 lows than at the yr 2011 lows and yr 2007 lows before the yr 2007 ath. Both yrs 2007 and 2011 the commercial long signal resulted with the ES making a new all time high. I don´t know if price will follow this signal again. However price history can rhyme which could thrust the ES to new all time highs...
While I no longer scalp much due to the time commitment scalping generally takes (particularly in instruments most effectively traded during the NY session), I used to scalp a great deal when I was in spot forex. The simplest scalping technique I have come across and used exclusively was the "fingertrap method." Although I am not sure who is the originator of...
Using Tim West´s long short filter set to 4-16 emas years 2000 & 2008 corrections were identified. The 4-16 emas also gave a bear signal in years 2010 & 2011 which were false signals. Yet when using this system along with T3 mvas 5 -20, years 2000 & 2008 experienced a bear cross along with the 4-16 emas. Years 2010 & 2011 the T3 mvas did not cross showing the 4-16...
We have covered the last leg of our NQ trade. It was a solid trade. Understand that when markets are selling off the snap back rallies can be violent and quick. Today's afternoon rally was enough for us to cover per our plan. For now we will watch the NQ, ES and TF for more opportunity. Trade well.
After two attempts at getting target #2 we failed! Bummer. That's trading and as we've heard many time, "don't be a dick for a tick", we aren't. Price came within 5 points of our target and back away. We believe price is not done testing the down side so we will hold to our plan. These small bounces are on low volume. On the next visit to the recent lows we...
As we creep closer to our second target we are pulling stops to Break Even plus 10 to lock the trade in. We are fairly confident we will see target number 2 early in the session today. Regardless, we want to manage the trade properly. Yo never know when the PPT will swoop in to save the market. ;) Trade well!
We are short the Nasdaq from our post last night. We have set out stops and trigger. While this chart doesn't show it we hit our first target. We will leave stops in the same place and see if we can get Target #2. Stay Tuned
The bulls were squeezed hard on FOMC (and the day after). After many years of trading this is why we stay away from longer term trades until the dust settles. There will be more than enough opportunity to trade. Most of the indexes are at support or have broken their patterns. We expect a small bounce in the $NQ on Monday followed by more selling. An inside...
With the shortened trading week, this week's price action could best characterized as a period of consolidation, as the major indices closed near where they opened. All in all a slightly positive end to the end to the week as the buyers were able to close the week slightly higher. At this point all of the major levels we outlined last week have held hence the...
Epic trading action this week and the adage that "the crowd is usually wrong" was once again demonstrated. This week's sell-off on Monday hit most of our downside targets we posted last week with the exception of the 2 remaining gaps @ 177.48 and 173.22. The likely scenario is that we've found a short term bottom here. A playable trade is for the market to...
The market is continuing her move to the downside. This is why we "WILL NOT ESTABLISH A POSITION ON FRIDAY". We will be watching the Emini and other Indexes for a reversal from the support area on Monday. We WILL NOT enter a trade without a trigger. Knife catching will kill your account. It is not recommended. Be patient!!!
In this post I would like to put together some previous stock market calls (still valid), as well as add two more promising shorts. It's been a rough week for US stocks culminating in a clear break of the Head&Shoulders' neckline at 2045. This kind of pattern is usually referred to as "Complex H&S top" , because there are multiple peaks and its "head" is a H&S...