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Or breakout SPY 124.16
I believe that was yesterday's high on it?
So far today's high 124.14 here.
QQQ has recovered 55 and still a lot of room to retest 55.50/56.
A bit unusual to see the SPY leading the other Markets.
I can't remember if that was the case after Thanksgiving?
Profit is Profit, take it
I am wondering if holding out for 2 more points to upside is worth the risk of another 2 pts to downside retrace? lol
Liked the support around 1230 but didn't want to average up.
If I could daytrade it would be a different story.
Great trade you made!
Futures definitely change quickly
Just like the Euro. It is interesting to see the displacement here between the SP and the QQQ. It is not usual for the QQQ to be lagging. Might be this retest SP 1240 catches some selling pressure, maybe. Will look better if QQQ closes above 55.
I have never looked at trading the futures, just try to see how the trend is developing.
Looking like Thanksgiving again?
2 days of top testing and the next move could be a big one to upside or downside. I am leaning towards upside with the support at 1230 holding, and the CCI indicator staying green. Hopefully this chart will keep working for swing trades as I can't really daytrade my IRA. Still holding TNA avg 40
1230 was it imo
Yesterday was HOD at EOD and Resistance so today should be LOD at EOD and Support. Any close higher than 1230 the more bullish I will be for a continuation upside tomorrow. Tomorrow the big test will be whether yesterday's high will hold or be surpassed imo.
TNA target still 46 for me
Too bad could not have traded it overnight at 46.29 high.
Might be a situation where the target was met?
Have seen that a lot with the SP Futures overnight hitting targets and reversing.
New setup=Euro double bottom morning?
Wondering if we change to uptrend here and now get Euro double bottom buying rather than the downtrend Euro double top selloff?
SP Futures 1235-1250-1240-1230
You can see the spike high to 1250 in the Euro and the 1240-1230 test in the FTSE. For the FTSE it is pretty much a gap and fill from the prior day. Looks like a typical Euro sell on the News. Too bad as TNA premarket high was 56.29 which must have been at premarket open. 1230 should be Support for the SP, prior resistance as support in an uptrend, we shall see. QQQ premarket low 55.45, testing support 55.50, so back to the bullish/bearish pivot.
Anticipation is some morning recovery with the same double top selloff at 10:30 but will be watching for support to hold QQQ 55.50 SP 1230. Might be a consolidation day with an afternoon ramp, we shall see.
Sounds Good 124/125 prior pivot
QQQ 56 also a good target. Will see if we get a move after 12 to retest the tops. Looking for a HOD at EOD and Resistance. Not sure which way we gap in the am. Nothing wrong with locking in any profits if Long here. Want to see TNA break 44 to retest 46. I think when Bonds close the Markets leap higher, jmho.
Whiplash like Aug/Sept
I think we keep trading the whipsaw though Feb, we shall see.
So far Mirror of Nov 28th?
Let's see if can follow the Euro with some consolidation and then further upside eh?
Euro no premarket double top yet
Most every other day that has been a bad sign, seeing the Euro double top. Let's see if can get some continuation higher past 10:30.
SP Futures 1200-1205-1210-1213
The Euro has a big overnight recovery as do the Futures.
So far some hesitation to move higher in the FTSE, would like to see 5400 recovered. SP 1215/1220 will be the short term pivot with 1230/1240/1250 still on watch over that, so a lot of resistance to overcome. Will be watching to see if the Markets can get past the 10:30 selloff that has been halting any recovery efforts lately.
QQQ premarket high 55.02 so need to see 55 recovered as support
Needs the break to upside over Head
You can see what happens when the Back fails to hold support, slide.
Time to see if another pair of Legs will get setup under the Market here or not.
Denmo's lower chart
But I see the back failed at 1212 for now.
Breakout above last Head would retest top of intraday tail
http://www.trading-naked.com/JerrysDragon_more_examples.htm
Intraday Mini Dragon
Can it retest tail extension?
Needs a break above the head
We shall see
Happy Holidays Steve!
Hope you have a fantastic time with family and friends and a Merry Christmas and a Happy New Year.
I am leaning Bullish now since last week. Today looks like an old fashioned shake out and I would not be surprised to see the day close green. A lot of similarity to the right shoulder bottom in Mid April, especially after seeing today's pullback making it nearly identical. Still a lot of Global concerns in the Market and speculation on the $/Euro but I am starting to think more of a relief rally is due here. I think many traders/buyers are thinking the same thing here though, just take the time off and Enjoy the Season.
Wish you All the Best!
Sincerely, Bob
Thanks, much appreciated
Yep, make or break
I think that is what has the Buyers waiting here.
Not sure if we need some positive news to get things moving or just less negative news lol.
Ibox link there yet?
Will it be labeled as January Effect stocks?
I saw your one previous post showing them.
I think TSON could be added but not sure if it meets the criteria.
Mutual Fund buy = January effect
That all sounds Good to me for a Bullish scenario
We shall see
Ya, I don't understand it
I am used to the Market/VIX volatility we have seen most of the year. VIX staying in Bullish mode is over my head, but if it keeps the Markets moving Bullish then I will become a believer. I have never followed the VIX very closely during a bullish market so hopefully this will be a learning experience.
VIX is the worst for me
I have never been good at trading it at lows, only at highs, so I don't really understand the Bullish talk about it going under 24 eventually to give the Markets a Bullish bias. I keep expecting the wild swings and from what I hear VIX staying Low is Good for the Markets?
BAC at $5 would be targeted support
You could set your stop at 4.90
QQQ 55 SPX 1220 holding Bullish
The test of these as Support should give the Markets a Bullish turn.
Let's see if they can Hold now.
SP Futures 1202-1220-1215
You can see the test of recovered support in the Euro/FTSE charts. Euro offering an inverted H&S and the FTSE trying to build some higher support from it's morning open. Both are bullish but only if can get another higher breakout and higher support. Would be watching FTSE/Euro for recovered support above 5400, Euro 1.304. SP over 1220 at the MKTSS 100sma would lead us back into Bullish territory as long as it starts to Incline and hold Support. Until 1220 is recovered as Support there could still be a lot of testing.
For now anticipating the FTSE morning trend to continue bullish.
QQQ premarket high 55.30 with 55.50 the bullish pivot
Morning Dave, Sounds Good
Lately it has sure been moving the Markets around.
Have a Wonderful Week!
And if you can't read English?
Every one of those sites is in Spanish and Multiple languages. Help can be provided in filling out the paperwork as well as an interpreter.
Welcome to America!
Where do I sign up for benefits?
I like this one
Looks like a great swing trade chart, thanks
Thanks, much appreciated
FXE looks good. Yes, that morning disconnect had me confused as to whether we get a 10:30 spike or not. A little more patience and typical Market timing/anticipation I could have captured a much better options trade or TNA exit. It is interesting now to see how much traders have started relying on Euro/FTSE anticipation after I was trying to preach it in 2002.
I only have one monitor so the thing I like about the Edge is the tabbed window setups. I always had problems with SSpro trying to flip multiple trading windows and accidentally closing windows. I did like the ability to more specifically program a trade, haven't found out how to get the same If/Then ability on Edge. When I started in Feb this year I had downloaded SSpro but had a class on Edge the first week and have been using it ever since so I haven't gone back to see how SSpro has changed since 2002. Missing nearly 10 years of trading experience has really hurt me, especially with learning software uses. I am hoping I can gain some of that education here from yourself and some of the more experienced traders to get me up to speed on using different trading software and setups. I will program in some of the indicators and see how I can adapt to using them. Primarily I have been working on 'anticipation' using support/resistance targets but with the wild volatility want to learn more about recognition of the chart indicators. I can't daytrade with my IRA but I am sure what I learn can be carried over to longer term charts for swing trades.
I really appreciate your interpretations and insights.
Have a wonderful week!
A look back at SPX
If you look back at SPX March to mid April you can see the similar inverted H&S pattern we could 'potentially' be in here.
You can see the right side lower shoulder ran back up to just over 1350 beginning of May. I think this is where the 'speculation' that the SP sees another runnup over 1300 comes from.
Remember that this is just 'Speculation' based on prior chart trading patterns. Whether it will repeat is to be seen. I think if we do get a gap up on Monday the odds of it happening will be greater, we shall see.
Have a Wonderful Weekend!