Trend down yesterday hit deep price target of 1577 handle…we had issued a “prime turn alert” near 1580 which suggests “end of trend” soon to be followed by reversal. Overnight trade has produced a 10-handle bounce from settlement. Today marks … Continue reading
The Fed clarified it’s position on tapering of “QE Infinity” yesterday…Seems like infinity is not so, well let’s say: “infinite”. Markets reacted just like a ‘crack-baby’ withdrawing from it’s “fix”. Investors don’t seem to actually care whether the Economy is … Continue reading
Today is Fed Day…All eyes and ears will be on language regarding the tapering of “QE Forever”. How the markets respond is uncertain which for day traders should provide plenty of opportunity. Intra-day ranges have been wide, so per yesterday’s … Continue reading
Increased volatility within a wide trading range is a traders “dream”…Trading the Extremes to key support and resistance zones can pay big…Chasing a move can be disastrous…Symmetry is defined as: “Similarity or Likeness in Swing”…Using symmetry in range-bound markets can … Continue reading
Last week we highlighted developing 1st Pullback from “Key Low”. See TwitPic: https://twitter.com/TradePilotPro/status/345241863797755904/ Subsequent strong rally ensued hitting a high of 1635.00 (Sept Contract). Friday’s corrective pullback measured a perfect 50% to 1617 handle where PTG was aggressive buyer in … Continue reading
In yesterday’s trade strategy we were looking for a test of 1596 low from 6/8…that’s exactly what happened, followed by a strong rally which hit projected upper targets. The larger degree pattern setup as “1st Pullback” which we twittered: https://twitter.com/TradePilotPro/status/345241863797755904/ … Continue reading
Yesterday we knew there were decent odds (83%) of a rally greater than 10 handles (which occurred during globex +9.75pts). Failure to move above Prior Day High (PDH) at 1638.25 setup a very nice “short sell” condition during the Open … Continue reading
Last week we noted the completion of Wave 5 down corrective pattern concluding at 1600 handle followed by a rally taking price back to prior pivot high at 1645. Yesterday’s pullback to 1622.00 handle (Note: projected target was 1623-25 where … Continue reading
We highlighted in yesterday’s session the importance of 1646.50 “marker” as resistance…Also mentioned that the bulls were only able to hold price stable and not able to expand the range to upside. This sequence of events is not a sign … Continue reading
Friday’s follow through reversal was quite strong and pushed all the way back to 6/4/13 pivot high. Is this just a “dead cat bounce” or beginning of new up leg?”. We have no answer to that question, so we will … Continue reading