Yesterday’s auction began in globex on a very weak note, only to trade back to prior resistance (1976) and fail to go any higher…That failure emboldened the bears to press…Later on, reports that a passenger airliner had be shot down … Continue reading
In yesterday’s DTS we stated that odds were relatively low (60%) of converting prior session’s high at 1976.25…An early attempt to penetrate was met by stronger responsive sellers, which setup an “auction failure”…Another failed attempt at the Open Range Rotation … Continue reading
S&P e-mini pulled back to key weekly Point of Control (1958 handle) yesterday where responsive buyers stepped-in, absorbing all contracts supplied. We continue to observe repeated pattern of pullbacks testing support zones, then price pushing back higher to top end … Continue reading
Monday’s Session could possibly have been the narrowest range of the year, though I do not have statistics confirming…but boy it was slow. Corporate earning releases have begun to flow and we have opined that money managers are less likely … Continue reading
“Trade What You Know….Verify What You See” This is what Polaris Trading Group instills in each of our member traders daily…It is based upon a solid knowledge base of understanding the market auction process and applying proven trading principles, based … Continue reading
S&P came roaring back from a deep deficit early in session on fears of increasing problems in Portugal (PIGS) to close the session in upper 25% quartile of the days range…Although the Bull is quite resilient buying the fast sell … Continue reading
S&P 500 e-mini (ES) is down 17+ handles in overnight action on a delayed reaction to release of Fed Minutes which confirmed the end to its bond-buying program in October. The plan will decrease bond purchases in three increments until October, … Continue reading
Markets followed through to the downside yesterday in an orderly fashion equal in magnitude to prior 3-day “symmetrical pullback”. The intermediate and long-term uptrend remain firmly intact, so although pullbacks are expected and even welcome to work off buying excesses, … Continue reading
In Monday’s Session price pulled back about 10 handles (think 10 Handle Rule) in an orderly fashion as was laid out in DTS Scenario 2 : “Failure to attractive new buying above 1978.25 (Key Resistance) suggests the need to auction … Continue reading
As America celebrated it’s birth this past weekend all across this great Country, investors/traders are partying like it’s 1999…at least those in the Hamptons. From reports I have received, with new highs in the indexes, the financial crisis is a … Continue reading