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Monthly Archives: June 2012
A.M. Look 6/6/12
Welcome to the Mid -Week Shuffle… Gold…could go as high as 1650 Platinum…stops are over 1674 Spu’s …1292.50 should be early support. 1300 is early resistance. Nasd…2496 is early support. 2527-24 is the 18day mvg avg. and the monthly close. … Continue reading
GDX Gold Miners ETF
Many of you are or have been actively trading the Miners via the GDX. Technical resistance begins at 47.70-48.50. The move up from the low has been prodigious. Use mid-week strength into this zone to tighten up your risk parameters
IBM
189.15 is the 200 day Mvg Avg in IBM. Watch for general market tone. Those looking for a Risk On mid-week rally should look to the usual suspects for direction and opportunity. Oil names and related ETF’s should provide the … Continue reading
A.M. Look 6/5/12
OIL, Euro, Aussie & Spu’s all rallied to their upside pivots last night and failed. General Comments… We’ve gone from one end of the spectrum..rallying into resistance ( another rally to nowhere) through the Asian session right back to near … Continue reading
USO United States Oil Fund Daily Chart
I know some of you guys are looking for a short term long to see if we get another rally into mid-week. USO could be a good candidate. The chart pattern shows a double daily bottom to manage your risk … Continue reading
It’s Summertime…
The Robots are in charge..the Homo Sapiens, the smart ones are enjoying the cafe society. Price action above 1271 Spu’s will run out new shorts. Look for this to run all the spreads and commensurate surrogate trades.
BTP Futures Daily Continuation Chart
The Italian 10 yr bonds are trading at resistance. Price action above this level will give way to 103.30 on the weekly charts. We’re mentioning this because it’s telegraphed Euro Currency Movement (EUR).
A.M. Look 6/4/12
Full Moon Trading Tonight, that means half the world has their Ouija Boards out and you should have your track shoes on. Spu‘s…the downside levels will remain static. 1252.60 is last years close. 1243 is the next meaningful Fib support. … Continue reading
JJG Grains ETN Daily Chart
This fell of my radar earlier this a.m. with everything else going on. The corn is leading this ORH pattern. A close over 44.51 puts in an ORH day, which is a price positive pattern.
Russell 2000 Weekly Continuation
The first rebound rally in the Midcap was a re-test of the 200 day moving average. Midcap has been the strongest on the spreads and is now the weakest. The Russell as shown, is trying to put in an ORL week.