I began posting a daily forecast on the S&P 500 in September 2009. I try to get my forecast out as early as possible before the stock market opens. Writing out my forecast everyday helps me organize my thoughts and helps put me in the right perspective before the trading day begins. It’s a very useful habit that has definitely made me a better trader.

My site focuses on trading SPY options and ES futures and their interaction with currency (primarily with the US Dollar Index, /DX) , treasuries (TLT, /ZN ) commodities like Gold (GLD, /GC) and oil (USO, /CL).  I use to trade all kinds of various stocks as well but as I became busier in life I found it too time consuming to keep up with the details of individual stocks and so I don’t trade them as much anymore.

I specialize in day trading and so most of my charts focus on the immediate forecast within the next few hours to the next few days. I like being in almost all cash by the end of the day and don’t like holding positions overnight because simply put I like to enjoy my sleep. However longer term trends usually dictate the “direction” of day trades, so my analysis is highlights the longer term trend as well.

I stubbornly believe in doing everything myself and so my original website was painstakingly coded by yours truly. As of November 2010 I decided to move to wordpress simply because it handles commenting and grouping of charts (by symbol) better than my old website and I became too busy to code my own. My old website is still available via the “Old Website” link.

 
  • http://www.deepdolphin.com Deep Dolphin

    Ho ho ho… it looks like you succumbed to wordpress! I’m glad you chose a cms tool at least vs writing the damn code yourself. FINALLY.

  • Anonymous

    A brief analysis shows that today we have broken the neckline of an SHS-formation with left shoulder in 1249 (in March) and right shoulder in 1258 (in June). The head is 1370.58 (May 1)

    Technically, it gives a target in 1150-the area.

    One can hope for a new round of QE in a few months can drive the shares up again. Unfortunately, it suffered bad moment.

  • Anonymous
  • Gary

    Can your recommendations be used to trade SP500 index ETF’s or are the levels of support and resistance different because they are based on Sept futures

  • http://spychart.net spycharter

    That’s the problem with futures, when they rollover there is usually a 5-6 point difference in price. Then again with the SPY ETF every now and then a dividend is declared and one could argue that has a similar effect. Yes you can use my recommendations to trade the SPY ETF as it is the same thing as the ES futures. It differs because you need more capital to get the same amount of leverage. I use to trade the SPY ETF before I traded futures, at that time I preferred to look at charts of SPY instead of ES. But they are essentially the same thing. The resistance and support levels will be the same, you just have to translate them. ES support at 1175 translates into 118-118.2.

  • Roni555

    any opinion on natural gas – NG ?

  • Curt

    what’s the cause of  the 1248, 1238 and 1195.75 resistance/support levels?

  • Rick

    ES created indicator divergence at 1251.

  • Rick

    Apols, S&P500, not ES.

  • EL

    Keep up the good work. Refine your technical un-bias and keep all honest.
    Excellent input so far.