9 Apr 2015 - Resistance Broken To Upside

The sideways trend this trading week has been broken to the upside.  I didn't think it would ever come, but the ST has proven itself again..  If we continued the weak sideways move, I believe the ST would have eventually moved to the downside. For now the Up trend is intact.. and Intra-day Stoch. has entered OB by the end of trading hours.  This raises probability of an acceleration up.  We can't say for certain that anything will materialize out of the OB reading, because it will depend on how the futures performs overnight, however we must apply the risk and probability of those signals.  If Intra-day signals moves out of OB then there would be less risk on acceleration in prices to the upside.

MT: DOWN
ST: UP
PA: UP

8 Apr 2015 - Pump & Pump

The morning started with a push down but did not have enough strength to maintain its momentum from yesterday and eventually ended up in positive territory and maintained its level through the Fed Minutes.  With the Fed being split on when to raise rates, I assume markets were split as well on whether to sell or to buy.  Yesterdays bearish sentiment got diluted today by the SPX maintaining its price in the intra-day chart above its 75ma, and todays positive close has made a CIT on the ST.  How quickly the attitudes change overnight.  There was no Pump and Dump today, so with the change in ST, we should look for more upside unless the intra-day charts decides to push lower into OS territory.

MT: DOWN
ST: UP
PA: NA

7 Apr 2015 - Bearish Advantage

The market could not hold up its positive move today even with a intra-day high.  The Stoch. on the 60min chart has also now exited the OB range without any price acceleration to the upside while it was in the OB territory.  This is signalling weakness, along with a voided triangular pattern that we were watching out for.  I would look for intra-day trends to be in the down and accelerative position.  These would confirm the bearish sentiment that we are currently setup for.

MT: DOWN
ST: DOWN
PA: DOWN

6 Apr 2015 - Egg For The Bears

It looks like the horrible jobs number on Friday didn't deter any buying frenzy today. The corrective pattern I talked about last week is still valid.  So look for the indicator to exit the OB range and signal a downtrend.  A 2nd wave pattern is more ideal for the Bears in order to have a prolonged run to the downside while an abcde pattern provides the bulls hope that the correction lower will be met with a rebound to higher highs.  With the volatility that exists it is hard for the indicator to follow in a quick manner.  So either we ride out the volatility storm or stay out until the price trends in a clear direction.

MT: DOWN
ST: DOWN
PA: NA

2 Apr 2015 - Another Swing Getting Clearer

As the volatility swigs Up and Down we are starting to see the pattern more clearly.  But we should still be careful overall.  The move up in the SPX today seems to be an extension of a d-wave, but regardless of whether we are on a d-wave or e-wave, the overall picture looks to be temporarily bearish.

MT: DOWN
ST: DOWN
PA: NA

ALERT - High Probability Set-Up

There are 2 EW options on the ES and most likely a high probability.  Both options are looking to trend lower but only one will be temporary and the other one will be super bearish.  2nd wave will be super bearish.  Triangle setup will be a clue that push lower is corrective.  So take advantage of both scenarios and plan your trades. Do your own DD.

1 Apr 2015 - Did You Get April Fooled?

You probably weren't the only one.  Since last night the Futures market had 4 swings.  Hard to trade that even if you are good.  So if you hate volatility, stay with the trend and don't panic in these conditions.

Intra-day charts started the morning with a downward direction forcing the ST to curl towards the downside but not enough to cross down unfortunately.  Will have to wait till tomorrow to see what develops.  Due to volatility the signals become more lagging, but clears up eventually.  We should learn to trade days like these when the market does start to correct in a large way.  The trend will keep you in line with your goals so a strict conviction on your trading rules are needed.

The EW pattern suggested yesterday did not materialize and evident since the start of the open.  ST remains up but could open tomorrow with a cross down. Therefore trade any intra-day trend pointing down if that is the case.

MT: DOWN
ST: UP
PA: DOWN