Hey Traders, Here is a quick update of bullish sentiment and NYSE stocks above 200ma. Both of those indicators are at the very least at 3 years highs: While I will continue to focus on technical levels described in previous updates, I would rather miss the next move up, whatever it might be than chase…
Category: Daily
Daily market analysis
On The Warning Track of Bullish Lunacy
Hey Traders, while all the technicals were addressed in Daily Market Summary, it is also worth looking at the market sentiment via good old friend BPNYA – NYSE bullish percent Index. Orange – warning track of overly bullish sentimentRed – “bullish lunacy” level, rarely seen bullish sentiment frequently resulting in market reversals. While May /…
April 8th Daily Market Summary
Hey Traders, if you were following along Intraday Analysis on the blog, what seemed as choppy day today was actually rather tradeable with turning points identified relatively easy. The daily market picture has not changed much:esdaily2009-04-08_1617Today’s trading hours action traded with 23 point range with no significant technical damage done. Es has been reacting really…
Monday April 6 Market Summary
Hey Traders, another of false hope for the bears, closing at session highs and trading as many as 15 pts above the daily low, putting in a daily doji:esdES was trading as high as 848 in pre-market, which would have resulted in the open above the trendline, which seemed rather unlikely. ES traded into Thursday’s…
Whats next for Gold?
Good Evening Gold Traders, looks like Gold broke some significant technical levels and is breaking down, down over $20 on the night as I type this. Bears should be careful at these levels, as it seems that some support levels are not too far down from here. golddaily 855.3 is 50% retracement from multi-year lows…
April 1st Daily Market Summary
Hey Traders, very bullish today in the markets, initially seemed that markets were going to roll over and look for retracements of the whole rally down below, all that was thrown out the window when “better than expected” economic data and your tax dollars went to work. Here is our good friend 100K contract bar:100kAs…
April 2nd Daily Market Summary
Hey Traders, another day of of pain for the bears today as ES continues to grind higher at all cost (or at taxpayer cost). Since Wednesday’s low all pullbacks have stopped at 23.6% retrace from that low with only one to exactly 38%. I have been calling for a bounce at 827.25 in intraday analysis…
Interesting Week in The Markets.. To be continued..
Hey Traders, congrats on making it through another week, this was one wild week that went something like this: es100k1 stock-market2 Check back for daily, weekly update and some cool new stuff later this weekend. Cheers and have a great weekend!
Key Levels on EC / Euro
Good Afternoon traders, last week euro has traded very nicely in respect to the fibs with few long term ambushes being hit to a tick. Here is a look at Euro DailysecdailyEuro remains in ambush consolidation zone with 200 day moving average now in the short ambush zone. Ambush range expansions have been working very…
Daily Emini Summary – March 30
Hey Traders, rather boring day today, unless you were initially short or were playing the channel on the tick chart posted in intraday analysis. A lot of ambushes were dirty and tape was overall choppy.Here is end of day trend summary: Euro trend has been bearish all the way since Friday and has found support…