Daily Archives: 05/01/2013

Europe…Pattern Alert!

Posted on 05/01/2013

Hello Houston…We may have a problem.. Europe was closed today, however both these ETF’s show a possible top with an ORL daily pattern. This is a price negative pattern!

Cat…Spu’s…SDS

Posted on 05/01/2013

CAT…82.40 ish is weekly support. Spu’s…have put in a short term reversal, meaning they are trying to hold today’s low. SPU/BONDS…are hanging out right on my favorite mvg avg lines. This is one of those #’s that is a go … Continue reading →

SDS…Follow Up

Posted on 05/01/2013

Markets, in general, do not typically change direction in a day. The process usually takes a couple of days for the current trend to abate or reaffirm itself. It’s the Mid-Week shuffle, combined with a new month, making this an … Continue reading →

EUR/AUD….AUD/USD

Posted on 05/01/2013

Euro strength led the early rally in the EUR/AUD cross, now  AUD/USD weakness is leading. AUD/USD…102.45 is the daily level just in front of our Multi-Year closing Pivot zone of 102.15-25. This is an area to not press direction. You … Continue reading →

May day! May Day!…SDS Trade Alert!

Posted on 05/01/2013

Is this the high or isn’t it? Is this the start of sell in May and go away? We won’t know unless we give it a try. Buy the SDS using a 41.90 stop intra-day. Any way you look at … Continue reading →

A.M.Look 5/1/13

Posted on 05/01/2013

Oil…92.05 shows a double bottom on the bar chart with stops below.91.72-82 is moving avg & Point & Figure support. 91.16-35 is the first place to look for a bounce. USD/JPY…97.00-05 is the next to watch for market tone. “103.05 … Continue reading →