Troublesome Thursday Wrap Up

After a hopeful start of the session for the longs we slipped into some bearish follow through mid session. Let me make this crystal clear – I trust none of this and although more downside is always a possibility I am patiently sitting this one out.

Well, here’s the video wrap up – watch it and then tell me if that was truly a bearish session. FYI – NYSE D/A today closed at 1.22:1 – compare that with yesterday’s close at 5.36:1. We may be looking at bearish exhaustion here but to be sure we probably need to see another bearish day with less negative breadth. The pattern on the D/A (and A/D) leaves the door open for a slow downside churn that needs to be strongly interrupted (i.e. an aggressive push higher) to find its floor.

Geronimo was not having fun today. It got stopped out on a short trade early in the day, then it took a long trade and encountered an ‘exit condition’ which in the new version keeps it from taking a loss early. Fortunately it then nailed another short trade, reducing the damage to two handles.

Beautiful signals again on Helter Skalper – not sure why nobody is talking about this one but I can only drag to the horse to the water, I can’t make it drink 😉

For the subs here are some Net-Lines on the daily SPX as well as the hourly spoos:
Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.

When I state above that we need a strong confirming push to stop this slide – well, this is what I meant. That buy level is still a few bagel throws away, so it’s dangerous to engage in bottom calling. But I maintain that chasing this tape is a precarious endeavor and that the odds here are low mathematically.

The hourly spoos chart looks ugly – we are in a range right now that will require a decisive move to produce any resolution. If you squint hard you can see some type of expanding diagonal – which is often signals the of a medium term trend.



Bear Revenge Wednesday Wrap Up

Boy, what an ass whipping for the longs today. Tape like this after that spike yesterday will have medium/long term implications.

My comments in the video – if you are interested in what may happen next then please catch up with my previous post.

Geronimo finished two ticks in the hole today – one winner and one loser.

HelterSkalper continues to paint very interesting signals at major swings. Again, I maintain that a combination of HS and your favorite swing trading system could increase your edge by quite a bit.

Here’s a little appetizer for you everyone since I’m in a good mood:

That’s the Net-Lines on the 60min ES chart – the new buy level is at 1267.12. Keep an eye on that overnight.



Bear Trap Tuesday Wrap Up

Yesterday’s session was highly suspicious and in particular I am referring to that rope-a-dope the MMs played toward the end. So seeing today’s follow through and clearly bullish session was not a big surprise to me:

I hope you guys heeded my multiple warnings and took profits while Mr. VIX was tickling the 20 mark.

Geronimo nailed one today – that’s how we like it. I’m glad it got out of there before they tried to scare the children at the EOD.

Helter Skalper painted some nice signals as well. I strongly believe that this could provide a clear edge in combination with your favorite ES swing trading or scalping system.



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