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Pro Tips
Euro…SPU
143.14 represents a double bottom on the weekly maps for now. The next level down is 142.50 followed by 141.50. SPU needs under 1334-32 to show more weakness and the resistance is now 1345-6.
A.M. Look 5/9/11
The commodities are all back with a vengeance since the opening bell last night. Trading should be viewed as technical for the next couple of weeks. Focus on buying any good “big break” where you can manage your downside. Keep … Continue reading
SPU
Right about now everyone should be thoroughly disgusted with the fact I wet myself at the high of the day in the index and took the money.( yes we all do it) The stock indices are all failing. The big … Continue reading
Lemming Effect 101
Once again the directional capital flow has ended with London’s session. Today as yesterday there was heavy Euro selling and buying of Gold early, only to see the Long side of the spread which is presently Gold, get kicked out … Continue reading
AUD/USD…Aussie
While the Aussie has rejected it’s initial 108 resistance the Yen crosses have taken over the entire board since the RBA announced it’s inflation data last night. In the meantime the Aussie resistance of 108 seems to be matching up … Continue reading
S&P 500 Futures…Spu
We are closing the short side of this trade out @ the market.
SILVER
You always have to ask yourself what the market is trying to do. By looking at this chart it is clear that on Wed when we tried a buy it was based off a yearly swing. Silver is now re-testing the … Continue reading
A.M. Look 5/6/11
So much for SINKO DE MARKETS DAY… We typically get a low for the rest of the month in the precious metals. Pattern alert GLD ( ETF)…this puts in an outside reversal lower week with a close below 145.45. We … Continue reading
Pre Unemployment Patterns…Risk Off
These levels do not change so please keep them. I will not re-visit these in the a.m. The crude just gave back 50% @ 99.40 of this years move and still going. I’ll start looking another 4 dollars lower for … Continue reading
Time Frame Trading
You have a double bottom in the Spu @ 1332 matching a very big level in OXY of 105.44….These need sustained price action back under to follow through, don’t get caught short in the hole. The end of this directional … Continue reading