Closes needed for outside reversal days.. FXI…45.51 China EEM…46.54 Basket of Emerging markets Ewh…18.97 Hong Kong EWZ…80.06 Brazil Ewa.. 24.69 Australia Nasd 100 futures 2042 Euro…139.50 Aussie…98.91 Usd/Jpy..81.90 Profit taking abounds….Long term investors should take their money off the table … Continue reading →

The most striking tidbit this morning is Goog being up close to $50 and the indices are basically unchanged. The currencies had another wild ride last night which to me shows people are paring back their short dollar trades and … Continue reading →

The age old question is which chart is the truest look at the markets. In the Equity indices we have the pit session which mirrors the Nyse trading hours with a 15 min. extension on the end closing at 4:15 … Continue reading →

Spu…you now have a double top at 1181 and a double bottom at 1169.50….Price action above or below is needed for the next move. Yen.. a daily close over 82.02 Usd/Jpy will put in an outside reversal day. This pattern … Continue reading →

1181 Spu seems to be the magic Number. Anybody wishing to try a small short to see if the equities retrace at all this is your #! Risk no more than 1181.75. That is your stop. I am simply trading … Continue reading →

Second qtr. revisited in the equities 1175-78 will be a trouble zone for the Spu 1185-87 is the top #I have today for price rejection.. nasd…2057-61….2067 are the commensurate levels.. Day traders should not be buying any strength into these … Continue reading →

Euro & Aussie ….These currencies, per yesterdays update, have put in double tops. The Euro just over 140 and the Aussie just above 99. First the Euro has already had a pretty good 2 day break. 137.73 is a good … Continue reading →

The board is pretty much overbought from currencies,individual stocks, stock indices,metals and grains.. This simply means to be vigilant and not indiscriminately buy things. We’ve come a long way baby. Nasd 100 futures has a potential weekly double top at … Continue reading →

The rest of the day the spu needs over 1160 and the nasd 2020.. Look to the oil patch for the least risky places to play for the rest of the day. Gold looks firm above 1325..price action below will … Continue reading →

I only have a couple of observations in currency land today. Yesterday the Euro & Eur/yen reached or slightly exceeded their tgt’s. for this swing. 140.30 Euro is just over 1/2 back for the last 2 years and puts in … Continue reading →