Out 1/2 that S&P short from yesterday @ 963.50 +4. I will hold the balance
Nice average up
Friday, July 24, 2009
CRUDE ANALYSIS
Crude looks like it has setup a H/S on my trading chart (144T). It also appears as though it wants to fail.
It measures .80 and targets down to around 65.90. The 161.8% projection from the high is conveniently close at 65.96. We will see how this plays out.
The pattern looks like it is setting you a Head and Shoulder pattern which should work but don't think it has to so be careful and use stops.
Notice we hit that 67.50 area I said was the PERFECT area to short and you SHOULD be short there with a stop appropriate to the H&S pattern
We will see.
MARKETJEDI
It measures .80 and targets down to around 65.90. The 161.8% projection from the high is conveniently close at 65.96. We will see how this plays out.
The pattern looks like it is setting you a Head and Shoulder pattern which should work but don't think it has to so be careful and use stops.
Notice we hit that 67.50 area I said was the PERFECT area to short and you SHOULD be short there with a stop appropriate to the H&S pattern
We will see.
MARKETJEDI
Thursday, July 23, 2009
Third push !!
All my students know about the 3 pushes and here we got a textbook three pushes above the 956 level. Today was the third push and we broke through showing confirmation of the move.
Got to read up your technicals they work.
NOW are we heading to my ULTIMATE 1054 AREA????? I guess we will see soon enough!!
MARKETJEDI
Got to read up your technicals they work.
NOW are we heading to my ULTIMATE 1054 AREA????? I guess we will see soon enough!!
MARKETJEDI
Only for the experienced!!!!
Building a position here short based on the S&P 500 FUTURES.
First position here @ 963
First position here @ 963
Wednesday, July 22, 2009
BINGO AGGGGAAAIIIIIIIN!!!
Again 956 stopped us today again. The high of day was 956.50 which shows that this level is EXTREMELY important. Now today if I am not tired I will run some charts and see what is the likely scenario here but The wedges in recent months haven't led to much on the downside so I don't want to jump the gun.
The earnings season is very similar to the last but Morgan Stanley's negative earnings this morning might put a cap on us here. If we do pullback I have those SSO Puts as a play but I rather stay light here.
MARKETJEDI
The earnings season is very similar to the last but Morgan Stanley's negative earnings this morning might put a cap on us here. If we do pullback I have those SSO Puts as a play but I rather stay light here.
MARKETJEDI
Tuesday, July 21, 2009
BINGO AGAIN!!!!!!!!!!!!
Well you all got the 956 level last night as important level and the market went to 956.50 as its high and retreated 15 points!!!!!!!!!!!!! What a call geez.
The power of technical analysis my friends that's all and nothing else. I dont claim to be a savant or have some super powers but just hard work and experience.
Watch those numbers I gave on Oil I think it will be an excellent play on the short side (67.50). Although I was a Oil bull long term, I have changed my stands for the short to medium term to bearish and think this one could really crash.
I still see the structure being fullfilled on Soybeans and with Oil those two trades should be some cracking plays till the summer is up and the traders are back to play the equities.
The power of technical analysis my friends that's all and nothing else. I dont claim to be a savant or have some super powers but just hard work and experience.
Watch those numbers I gave on Oil I think it will be an excellent play on the short side (67.50). Although I was a Oil bull long term, I have changed my stands for the short to medium term to bearish and think this one could really crash.
I still see the structure being fullfilled on Soybeans and with Oil those two trades should be some cracking plays till the summer is up and the traders are back to play the equities.
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