Looking to weekly chart and monthly chart market are testing important suport medium/long term.
Click to zoom in. Good luck folks.
Friday, June 11, 2010
Thursday, June 10, 2010
SPX Daily Market Thought 11062010
Nice rally after FOMC last session. Close above first resistance area [1068,1072].
Put/call at highs all day (around 1), so a close SPX500 at highs of the session was a strong possibility.
The trend remains lower I will follow bearish view until spx closer above 1115.
I have two possible scenarios for next sessions.
Bearish scenario 1 still intact but with this close chances that we see a bottom 16/06/2010 are very small.
Scenario 2 expect false breakout 1105 possible [1113,1115] (Next minor top). Reversal there give us next moviment new lows of the year target 998. I`m looking the same pattern RSI.
Let see reaction if stochastic test overbought conditions and RSI around 50 ( neutral area).
Let see reaction if stochastic test overbought conditions and RSI around 50 ( neutral area).
Click to zoom in. Good luck folks.
The Lighthouse Trade - Finding Safety in Trading
Steadfast, serene, immovable, the same,
Year after year, through all the silent night Burns on forevermore that quenchless flame, Shines on that inextinguishable light!The Lighthouse- Henry Wadsworth Longfellow
As traders we deal with troubled waters just as a sailor at sea. We at times have smooth sailing when all is well and we enjoy our trading. However there are days when our forex or futures trading can become a treacherous and difficult journey.
I think we all can find inspiration from the lighthouse and what it stands for. It is the bastion of hope and safety. It is the way home, the shelter from the storm. The promise that if you get to me you will be safe and secure. When a sailor leaves port it is the last thing he see's and when he returns it is the first thing that rises from the ocean floor to tell him he has made it home safely. click here and read the rest of the post
Now Can follow all my trades and comments Realtime = Intraday market comments
Market comments and analysis realtime.
Now visitors of my blog can follow all my trades and comments realtime > New Service and free.
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Don't forget to sing up to be a "Follower" of this blog (link is on the left-hand column). We have cracked a 175 followers last week, so there are many more that should sign-up to follow and show your support.It's free and I Appreciate! Thanks for all your suport.
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Cheers. New thought soon.
Now visitors of my blog can follow all my trades and comments realtime > New Service and free.
Here this link http://followmarketrend.blogspot.com/p/twitter-updates.html
Don't forget to sing up to be a "Follower" of this blog (link is on the left-hand column). We have cracked a 175 followers last week, so there are many more that should sign-up to follow and show your support.It's free and I Appreciate! Thanks for all your suport.
Here the link http://followmarketrend.blogspot.com/2009/11/thanks-all-followers.html
Cheers. New thought soon.
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