Last week we highlighted that 08.02.13 marked a short-term Gann Cycle Top. Price has not been able to penetrate that high (1705.00). Since then price has continued to attract more sellers on any rally attempt from the bull camp. Today … Continue reading
There continues to be “persistent resistance” at the 1693 – 96 zone. Failure to penetrate this zone keeps the short-term downtrend in place. The 3D CPZ continues to notch lower levels which confirms recent weakness. Strategy is to sell rallies … Continue reading
Yesterday’s Trade Strategy was spot on looking for early weakness with potential support coming in at 1681.00. Here’s excerpt: “Prior Day Low (PDL) 1688.75..So look for this zone to offer some initial support. IF price fails to find support, THEN … Continue reading
This past Friday (8.2.13) marked a key Gann Square-of-Nine (SQ9) “Turn Date” completing a full 360 degree short-term cycle. Whether this date marks a more significant turning point only time will tell…For now, Friday’s high does mark a short-term tradable … Continue reading
Price continues to trade in a relatively narrow range with continued low volumes and volatility. There is historical evidence that summertime is particularly slow, so just accept this fact and remained focused on trade setups that Mr. Market offers. The … Continue reading
The grind “up” continues unabated with “sellers strike”. I guess the Fed’s kool-aid is mighty refreshing. Once everyone has gotten drunk from the punch bowl, we know what happens then…next comes the hangover. But until that happens, “Party like it’s … Continue reading
Fed released their Policy Statement and S&P reacted with no fewer than three 10-handle plus moves down, up and down within the Session. Buying Dips and Selling Rips at extremes was the call of the day as we posted in … Continue reading
The “Dog Dayz of Summer” are definitely here…Low Volumes, Low Volatility, Choppy Range Action. As traders we must learn to accept what Mr. Market gives and take full advantage when an opportunity exists, since it may be a bit longer … Continue reading
Trade continues quiet and rangebound as Fed begins it’s two-day meeting. Investors/Traders await further clarification on Fed’s intents to begin it’s QE Tapering process…Last month Big Ben released a “trial balloon” and the market’s response was not to favorable…He then … Continue reading
Having reached a peak last week near 1695 the S&P has pulled back to form support at 1670. Price action is now “bracketing” the upper and lower edges. This mid-summer consolidation is anticipated to continue until either 1665 is violated … Continue reading