2013-08-22

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2013-08-13

It’s been a couple of days since my last post and I wanted to wait to show you how some things play out.  Leading up to last week we were watching this H&S pattern develop.  As it played out it provided some low risk high reward entries.  With stops just over 1700 the trade was […]

2013-08-09

22 days of choppy mess.  This will get resolved soon.  To which side?  The bulls still control this market (or should I say Uncle Ben) so it’s not wise to fade them unless you are an advanced trader.  The seasoned trader can take the short on the head and shoulders formation.  Be prudent with stops […]

2013-08-08

After a break of minor trend support the market rallied back inside of the triangle.  Was this the pullback?  At this point it looks as if we are forming the right shoulder of the H&S and may want to test 1700 one last time before selling.  The other scenario is we chop around for a […]

2013-08-07

The market finally broke some support today and we saw some decent sell off.  We still have a ways to go before our buy areas.  Volumes are extremely low and the news is light so we could be setting up for chop.  We could also be setting up for a right shoulder rally (H&S) since […]

2013-08-06

WHAT?  No sell off?  This may be a clue.  This is a strong market and the bulls are not relinquishing their control.  However, we are getting close to a much needed pullback.  Watch pullbacks to first support areas.  If we slip below this area we could see a move to the 1650 area.  Nonetheless, I […]

2013-08-02

There she be gang…the magic 1700. Will she continue to go or pause for a while.  Tomorrow is Non-farm payroll data and  we will see what the market likes.   In the mean time this is a stark reminder of how F***ing stupid Wall Street really is.  Somebody please tell me the result of this […]

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