To the few of you who actually bothered to show up for work today: You are about to get rewarded as I simply cannot believe the plethora of high quality setups I’m coming across today. I could literally post dozens of charts here but we’ll keep it limited to our usual healthy diet comprised of our four major food groups.
Before I drop the proverbial setup motherlode let’s however catch up with what’s going on in equities. I’ll be dropping you at 60,000 feet from which we’ll free fall into our first setup of the day, the E-Mini:
Our SPX point and figure chart flagged us a low pole reversal warning on Friday. This means [...]
You may not be aware of this but the stakes are extremely high right now. Equities are literally sitting on the last bastion of support and unless we see a bounce here things are about to get ugly – really ugly. That’s right – I’m talking hell’s bells ugly!
And yes, there is method to my madness. As I don’t want to post my volume profile chart for the third time in a row let me paint the overall picture across several timeframes:
I hope your browser is resilient as this is going to be a regular chartalanche. If you pulled this post on a mobile phone then my condolences for zapping your bandwidth limit. Let’s [...]
If you’re a bit puzzled about today’s E-Mini session then you’re not alone. That was a fine ramp across the board but seeing us fall right back to the ole’ volume hole is a bit disturbing. That’s right – it’s ba-aaack!
I’m starting to feel like Bill Murray as the 1420 level is turning into the price equivalent of ‘I Got You Babe’. Talking about a broken record! Sorry if I’m mixing up movie themes here. As I’m typing this the spoos actually have dropped to 1418, thus we are smack middle in the hole again. We’ve been visiting it since August and quite frankly it’s time we clear it – [...]
Put down your fishing rods – it’s play time! Seems we somehow hit the inside day mother lode today. And what makes today’s session even more interesting is that it’s happening after some very long candles across the board. What else could an evil speculator ask for? Alright, don’t answer that…
Let’s jump right in – here’s one of today’s favorites: Very small range and inside day after a massive sell off last Friday. I would love to see a long entry here but never underestimate ole’ bucky’s suicidal tendencies.
Turn the Dollar chart by 180 degrees and you get the EUR/USD. You know the [...]