Are 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 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 – 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 readingHas the Bubble Burst?
It is not uncommon to move past a “bubble” bursting and not realizing it. Denial plays a big part in the recognition of such a phenomena. While I admit the speculation can grow extremely strong as pundits try to claim their 15 minutes of fame by making bold statements of impending doom only to get […]
Continue readingHappy New Year…Are We There Yet?
The first trading day of 2016 produced an awesome volatile day with many “decoupling’s” taking place. The finish of one year and the start of the new year often produce numerous “decouplings” as money begins to shift strategy. China got things going coming into Monday morning with the major equity exchanges shutting down after dropping […]
Continue readingMonday November 9, 2015 – Today’s Chart(s) $ES, $CL
I’m sure that many traders woke up with the Monday morning “blues” as most markets traded lower. Regardless of direction, though, there were many opportunities across the board. If you trade multiple products, it could have been a difficult day trying to keep up with all the signals. Today was a clear case for good […]
Continue readingNASDAQ – 100 Pushes Above 4400 Are We There Yet? – Part II Thursday’s Chart – $NDX
Thanks to Priceline’s earnings announcement basically being interpreted as “blowing the doors off” the price of the stock jumped by $100, which equates to about 9%. Now that may not seem like much since PCLN was trading at 1122 just prior to the announcement, but in my humble opinion it was further evidence of the […]
Continue readingNew Highs Arrive – Where is all the Fanfare? Wednesday’s Chart – Updated Elliott Wave Count -Monthly $DJIA
Did I miss something? I don’t remember hearing any shouts of joy or any applause when the S&P moved to new all times. Nor did I hear any shouts or applause when the NASDAQ-100 pushed to new 15 year highs or when the Russell 2000 finally and I mean finally moved up to a new […]
Continue readingA Welcomed Return of Volatility & 2-Way Trade, Chart – $CL_F
Welcome back my friends to the show that never ends We’re so glad you could attend Come inside! Come inside! © 1973 Emerson Lake & Palmer One of my resolutions for the New Year is to return to posting on a more regular basis than how I finished 2014. My apologies for the […]
Continue readingThe San Francisco Bubble Indicator
The broader markets have risen parabolically since reaching their respective lows on October 15th. Basis the futures the DJIA (YM) has climbed 1586 points or 9.2%, the SPX (ES) 206.25 points or 10%, and the NDX (NQ) 489.75 points or 11.5%. The moves themselves were made within 12 trading days with the DJIA and SPX […]
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