Crude had a nice bonce last week but we must warn you...this doesn't mean the bottom is in. It takes time to form a bottom and it could take weeks to form. We could see Crude become volatile in the weeks ahead so be patient. There will be some REALLY GOOD trades coming in Crude. Keep on your watch list.
Mario spoiled the party and took us out of our trade Thursday. When this happens we will sit on the sidelines for a day to see what happens next. Friday was an inside day for Goldie. We expect a move outside the range on Monday. We still like the upside and will continue to look for long triggers until we are proven wrong. There are two areas to look for...
Mario has spoken and the craziness ensued. We closed Friday's session on our break area and flirting with another break. We will be getting short if we get a trigger after the break. Remember...No Trigger, No Trade!
Bulls defended our level and are trying to claw their way back. We are still favoring the downside and will seek triggers around the Minor Resistance area. Be patient on Monday. No Trigger, No Trade!
A very bullish bounce today in the indexes...you had to be quick to catch the move. We will watch the next couple of days to see if this is small bounce or a true reversal. Keep on your watch list and watch the outline levels.
Nothing happens until the ECB interest rate announcement on Thursday (21st). We are on the sidelines but will be watching the break areas for direction. BE PATIENT and if you decide to trade tomorrow...USE TRIGGERS!
Goldie broke back above our long area today and we got long on a quick trigger. We took some quick profits and are now holding a small position going into the ECB announcement tomorrow. The timing wasn't good on this trade because of the news so we will be patient and see what kind of party Draghi will throw tomorrow.
Crude has no bottom in sight. IF YOU TRY TO PICK THE BOTTOM PLEASE GET A HOLD OF US AND WE WILL TELL YOU WHERE TO SEND US THE CHECK INSTEAD. IT WILL BE LESS PAINFUL. :) BE PATIENT with crude. A bottom will happen soon enough but it will need to FORM a bottom first. We have no interest in shorting down here. Keep on watch list.
The Euro is still winding tight and most likely will until the ECB interest rate announcement on Thursday (21st). We are still watching the break areas. If we can get a trigger before the Tuesday close (US close) then we will take it. After Tuesdays close we will wait until news from the ECB.
What looked like a bounce last week turned into the selloff. This market is technically damaged and very weak. We were hoping for a bounce but to no avail. We are sitting on the side lines for now.
The head and shoulders pattern is working well on the Russell. We are half way to the measured move objective. If you missed this trade then please revisit our past Russell posts and watch how the pattern played out. Patterns repeat and there will be many more.
Goldie is trying to back above the 1095 area. If we see price above that area we will look for a trigger to get long. Be patient with her...it may take her a few days to cross that hurdle.
Goldie is always keeping people in on their toes. We were expecting some consolidation on the breakout and then another leg higher, but Goldie has other ideas. She is now back to our original entry. If price closes above 1095 we will look for triggers long. NO TRIGGER, NO TRADE!
The NASDAQ is starting to make a good bounce. We are still waiting for the Trigger Zone to see if we can get short. Be patient with this bounce.
The Euro is really volatile and consolidating. The EURO has not produced any triggers so we are waiting for a clean break. DON'T get chopped up...better to wait for the break.
The Euro blew through our watch area without triggering but rebounded late during the Friday session. We wanted to be long by now but we are not. There is a lot monetary news events out of Europe this week so we will be cautious of our positions. For now, we want to look for a trigger long (which may happen over night so get the coffee brewing) down to our...
OK...we are flat Gold and want to re-enter for a run to the 1140-5 area. We would like to see a pullback to the 1089 area but in strong trending gold markets deep pullbacks usually don't happen. We believe Goldie with consolidate in this area for a day or two and start another leg higher. We will be looking long for triggers after the first 60 minutes of the...
As suspected the NASDAQ broke out of its inside day and tumbled lower. Friday she closed on the lows which could be scary for the Monday open. We are still on the sidelines. We have a signal that tells us that a bounce is coming. This could have late morning Monday or Tuesday. We will look at the trigger zone for possible shorts off the bounce.