Price action has been rangebound recently…We have stated in recent posts that this would continue until the balance of supply/demand shifts. Yesterday’s continued selling was first real evidence that this shift was gaining some momentum. Also, keep in mind that … Continue reading
It’s option expiry this week…In order to cause the most “pain” to both Call and Put owners would be to keep price locked within a relatively narrow range forcing decay in time premium. The upper and lower price boundaries that … Continue reading
In Monday’s Strategy we highlighted that the Globex low 1675.25 was a “critical marker” for potential support and that if held, then bulls could could price back to 1690 marker. “Globex low 1675.25 becomes a critical marker for potential support…IF … Continue reading
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