Posts by: spycharter
[
The Euro has failed thus far to break back above the 1.267 uptrend line and is has failed to make a higher high. There may be a trade to the short side here but it needs to setup a little bit longer.
The other thing to note is that the Euro has traded [...]
ES has support at 1354, but could drop a bit further to the 1346-1348 range. As long as ES stays above 1334 I still think ES is headed to 1373. So I’ll be looking for reversals around those price areas. If ES does drop to 1334 again then I would consider shorting ES on a [...]
Gold is moving back up towards the 1767.1 high. I think it has potential to hit the 1776-1792 range. I still am bearish on this market but now is not the time to short. I have to wait for a better sell setup than this. If Gold takes out the old 1767.1 high then I [...]
With ES in striking distance of the 2011 1373 high I don’t want to be short treasury puts anymore. ZN is no longer holding the 117’295 uptrend line and it now looks very possible for ZN to drop below 129.5. I sold the puts for 0’100 and I’ll probably buy them back in the 0’20-0’30 [...]
ES is still climbing, holding all major uptrends. I am very certain this target gets hit this week. But more importantly what happens afterwards?
I think what happens after the 1373 high will present the best trade opportunity this year. There are a lot of possibilities but with all the bullish momentum I think [...]
It seems like some prankster in Romania (fiberlink.ro:79.112.68.145) broke into my spycharter@gmail.com email address and sent out a bunch of spam. I apologize if anyone received any junk emails. I believe I have corrected the issue.
There are three things that can happen when a security breaks an uptrend line:
1. Sharp drop
2. Drop followed by backtest (followed by sharp drop or continuation of rally)
3. Sideways consolidation – usually leads to rally
We are in situation #3 here. As long as Gold closes above the open [...]
ES has rallied overnight and broken the 1358 high-so-far this year by 3/4 point so the new high is at 1358.75. Currently ES is trading less than a point below 1358.75. I view this is a genuine breakout of the high and I don’t think it will trap reverse. Support is in the 1352-1354 range, [...]
ES did reverse off the new high yesterday but it held support at 1334 and it looks like it is going to break 1358. If it does then I think ES is headed to 1373. And I wouldn’t look for a significant pullback until 1373.
The Euro is in an area with a lot of support from the 20/50 day moving averages and technical support shown by the blue rectangle. Still the chart doesn’t show any signs of reversal yet but it’s a good idea to keep watching this market for one. I think the Euro could head down a [...]
Twitter Feed
- I swear they ran that up to 1158 just to blow my stop 2011/09/29
- ES is at 1154, moving stop to 1157.75 2011/09/29
- Short ES@1158, stop=1162 2011/09/29
