S&P Futures

Well that bullish triangle I proposed got scrapped quick.  The markets are in real trouble. We fell hard and closed in the lows Thursday and Friday, then today the S&Ps were down over 100 points in pre-market. We have been in a topping pattern for several months and so the rubber band has gotten real stretched and it now snapping back. Despite the market continuing lower in the foreseeable future, remember that the largest rallies have occurred in bear markets. So the bears need to be vigilant, use proper money management, and have strict discipline not to let greed over run your trading plan as those rallies will be fierce.

My target for S&P futures is the 1750-1770 area.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S&Ps Nearing End of Triangle

The S&Ps should be undergoing a wave E of a 4th wave triangle as it appears my ABC correction forecast fell flat.  Wave E's are usually caused by a news event so be in the lookout for big news announcements tomorrow and Thursday. Then, I'll be looking to get long for a sharp strong and fast thrust higher to break out of this triangle.

The consolidation in the S&Ps has been quite extended so I expect a large extended move higher to the 2300-2400 level before topping and completely reversing.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S&P Futures 1hr

The strong rally today threw a wrench in my wave count but if it continues lower almost immediately from current levels then it will remain on track. Short term, the market is overbought so weakness from current levels would not be a surprise.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

EURUSD Daily

The euro continues to grind lower and I expect a strong move lower sometime this week.  As long as the series of lower highs and lower lows continues, the short side is favored for trades.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S&P Futures 1hr

The S&P is in a C wave which is impulsive so it should leave a clear 5 waves down.  Look for lower levels n the days ahead.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

USDJPY 1hr

The USDJPY is finally breaking out of consolidation and moving higher it what could be the start of a bullish 3rd wave.  Initial target is the 127 area.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

EURUSD Daily

The Euro is working its way lower and remaining under the moving averages with a steady series of lower lows and lower highs. the trend is firmly down with 1.05 as the initial target.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S$P Futures 1hr

This morning's pop looks like a wave ii and now the bears can regain control, putting the market under heavy pressure the rest of the week.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S&P Futures 1hr

S&Ps working lower, albeit slowly.  If the wave count above is correct, then prices should move sharply lower tomorrow, and possibly the rest of the week.  A push higher above 2110 means that the bulls have probably regained control and will push prices higher for a while.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

The wave count is playing out as expected. If correct, this wave count suggests a strong short term downtrend that should last a week or two.  The first target is 2056.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S&P Futures Detailed Count

This is just another way to count the wave ((ii)) correction.  Although, the result is still the same as the chart I just posted a few minutes ago.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S&P Futures 1hr

S&P futures are grinding higher but doing so on declining momentum as seen by the bearish divergence on the RSI.  It's now flirting with the 78% retracement, which is not uncommon for second waves to do, they tend to be sharp and deep affairs.  However, that's the maximum allowable area I'll give it.  The bears will need to wake up and attack this market early next week for this wave count to remain on track.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

USDJPY 1hr

USDJPY appears to have bottomed and ahead of my expected retracement level and pushed higher.  I'm looking for a target of where wave ((i)) = wave ((iii)) Fibo extension at around 127.07.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

EURUSD Daily

The euro continues to grind lower with lower lows and lower highs and staying under the moving averages. As long as that continues I favor the downside with an initial target of 1.0388.

PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

S&P Futures 1hr

S&P futures pushed up to the projected 61% Fibonacci retracement level and has stalled so far.  Looking for topping and reversal behavior to get short.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.