Nasdaq 100: all technicals remain positive whilst this index tracks higher off the parallels.
Facebook: even if results are already baked in this is a case of sell on the news this stock shouldn't fall below 147 tomorrow. It would take a fall below 146 to trigger any further weakness back to 143.8 which would be viewed as another fantastic buying opportunity
Gold has had a bad day and is now testing bull patience to the very limits. It has to regain 1240 quickly now. If it can't manage it and hold up there the technical picture will deteriorate rapidly, and once below 1234 trigger further liduidation of long positions back to 1201, where it becomes a short buy again. Contrarians will be thinking about buying here with...
S and P is beginning to flag at these levels and looks like it needs a kick from the Fed to progress further from here. Be very careful here. We will likely top out between 2390 and 2400 if Yellen doesn't rise to the occasion later today
VIX Index Futures: VI1! - still the best way to hedge longs at current levels. Likely downside is 10% maximum from here and upside is 40% minimum over next 3 months.
DXY Dollar index still neutral but gearing up for a break out. Don't need to predict this even if Dollar looks more bullish than bearish right now. Whichever way it breaks will be worth following
Nasdaq 100 index is still very positive whilst within the parallels that govern the current impulse wave. If there's going to be a problem it lies 1% higher from here, as the Nasdaq Composite index reaches 6150. The composite index will need to break through it's restraining long term resistance line at this level for the Nasdaq 100's rally to remain unimpeded in...
Cac 40 index is sitting on a knife-edge here waiting for positive news from FOMC presser. Not quite as positive as the Dax but they are both going to move in same direction when it comes. Get ready to go long on a move above 5310 if we see it for rally to 5744 to begin with, then 5865
The Dax index is looking very positive whilst it holds up above critical support at 12400-12370. Waiting on FOMC meeting to end, this index is expecting the news to be positive. There's over 1000 points upside if the news from FOMC is received as well as the pattern on this chart suggests it will be. Only if it breaks below 12370 on bad news will this index...
Tesla: Still tracking the impulse wave so no reason to close longs yet. But it must bounce from 313.5 tomorrow to keep the uptrend in tact.
IXIC Nasdaq Composite long term chart showing danger approaching for long positions just 50 points away. Get ready to close down longs and prepare to short as per comment
Tesla: Building the dream. How much further can this stock go? As long as it stays within the impulse channel this stock remains positive.
Cac 40 Index: The Cac has only recently broken out of a long term down-trend. If we get a gap up through 5300 tomorrow it's well worth following for a really profitable longer term trade. And even if we don't get the gap (which would be perfect technically) it will still be worth following on a longer term basis on any close above 5300
S and P 500 continues to find it's main impetus from Nasdaq and Facebook, but it's still lagging and the gap's getting bigger with every hour now. This index is getting tired....
FACEBOOK: Up 10% in 13 trading days this stock continues its tearaway move, supporting Nasdaq and S and P in turn. But what happens if it disappoints on Wednesday? Take stock now, with a calm head, and consider both outcomes.
S and P rally speed is 188 points per year at fastest (top resistance line) against Nasdaq slowest rally speed, (chart to follow), is 480 points per year. This trend is unlikely to change any time soon, only accelerate. If you believe the same a simple way of trading the biggest trend of our lives is to ride it by simply going long Nasdaq and shorting S and P....
Nasdaq has outperformed the S and P aby roughly 300 points per year ever since this Bull run began in 2009. It isn't likely to change. This trend is still your friend and it's accelerating with each hour (Nasdaq up 0.77% and S and P up 0.26% so far today as gap widens by another 0.5% in a day. It happens most days, just not so extreme. Here's the simplest, safest...
Nasdaq: So far this index has behaved in super-positive text-book fashion. So long as 5577-3 continues to hold this index is a still a buy with loads more upside still to come