ES, and NQ – February 15,2021
The YM, ES, and NQ closed at new highs on Friday and added to those highs during Monday’s globex sessions. Volumes remain on the low side with the absence of any serious selling producing what may be best viewed as short covering as the US markets take a day off in observance of President’s Day. […]
Continue readingAre We There Yet? – Update for the NQ
The NQ remains in an uptrend and continues to be in what is best viewed as the finishing moves to complete the advance that began off of the March 2020 lows. In my humble opinion it has been a wild ride against the odds. In March of 2020 the NQ lost 38% of its value […]
Continue readingAre we there YET? Almost but…
As much as I want to call the Cycle wave 3 as complete with a Cycle wave 4 correction now underway – I can’t. The strong sell off of yesterday’s 13599.75 high in the NQ dropped prices 715 points to today’s low at 12884.75. There were periods of free fall as the index shed 100 […]
Continue readingAnalytical Tools | Day Trading Tools | Elliott Wave
Day Trading Tools I Use in Technical Analysis Elliott Wave Principle In 1939, twelve articles by R.N. Elliott titled “The Wave Principle” were published by The Financial World. From the original publisher’s note: “During the past seven or eight years, publishing of financial magazines and organizations in the investment advisory field have been virtually flooded […]
Continue readingWhere have we been and where do we go from here?
As we sail towards the final days of 2020 there remains undoubtedly the many questions on our minds as we move towards the end of an emotionally impossible year. The coronavirus swept unnoticed into the U.S. in January 2020 and began its deadly spread across the country from both the west and east coast. […]
Continue readingRemoving the Human Factor is Not Total – Part 1
I start with an apology for missing very consistently my own objective to post on a more frequent basis. Amazing how easy it becomes when “I” get in the way of achieving “my” objectives. In my own defense, I have been working diligently on the MJF1 Partners’ auto trader. I’m excited to bring it to […]
Continue readingWhat or Who was Behind the Buying in Crude, $CL
With the myriad of players moving in and out of the Crude Oil markets and its affiliate or component products Heating Oil and Unleaded Gasoline, it becomes a definitive benefit to reference a “larger picture” view. This helps determine the trend and prevents countertrend trading when the markets move into a transition from one level […]
Continue readingHumility is a Learned Virtue
There are days when the markets are likely overwhelmed by the extreme flood of data flowing in and out. The type of day when sudden and extreme moves paint 50 bars in all directions all at once on your chart, that happens to be hooked up to its own algorithm to generate buy and sell […]
Continue readingIs there a Wow Factor?
The answer to the title question is an unequivocal “Yes.” It could be the widening of your eyes in amazement as the $ES trades in a 20 to 30 point range both to the downside and upside in 30 to 75-minute increments for a good five hours straight. Using the right tools, (signal generator and […]
Continue readingMarkets In Transition..Continues – Part III
I’m not sure what the BofA analyst is saying regarding China’s FX reserve numbers. They reported a drop of $99.5 billion and that ‘kicked the can’ down the road for the US dollar for the time being. There was a major shift of capital back into treasuries and out of equities and some commodities. […]
Continue readingMarkets in Transition – Crude Oil
As I began my last post I continue to understand the trading mantra, “I don’t care.” I do care as to whether the shift in trend is towards buying or selling, but I don’t care about the why or what or where. This, for the most part, allows me to concentrate on the momentum. The […]
Continue readingMarkets In Transition – Economies Too?
I fully understand today’s trading mantra of ” I don’t care!” It makes total sense if you are just trading the number according to what your signal generator is telling you. However, it can become a nagging problem when the trader in you surfaces and begins to haunt the thought process by questioning the “Who, […]
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