Tradesight Market Preview for 2/9/12
The ES recouped a steep midday loss to close up on the day by 2 handles. The pattern is now 11 days up and has major overhead at the 1375 level.
The NQ futures were higher by 15 handles and are now have an active Seeker 13 exhaustion signal in place. Watch the MACD closely for a crossover.
Multi sector daily chart:
The 10-day Trin is still in the neutral zone.
The NDX was relatively strong vs. the SPX which is a healthy sign and has yet to produce that leading divergence that always kills an advance.
The OSX is working on a positive cross of the crude futures which will pull crude futures higher if it follows through.
The SOX was the top gun on the day and recorded a new high on the move.
The BKX was stronger than the market and made a new high on the move. Keep in mind that price is in the overbought Gann area.
The XAU remains trapped between the major moving averages and has been a source of funds.
The OSX remains on the verge of a major breakout or failure. A few more bars are required for confirmation.
Oil:
Gold:
Tradesight Market Preview for 2/9/12
The ES recouped a steep midday loss to close up on the day by 2 handles. The pattern is now 11 days up and has major overhead at the 1375 level.
The NQ futures were higher by 15 handles and are now have an active Seeker 13 exhaustion signal in place. Watch the MACD closely for a crossover.
Multi sector daily chart:
The 10-day Trin is still in the neutral zone.
The NDX was relatively strong vs. the SPX which is a healthy sign and has yet to produce that leading divergence that always kills an advance.
The OSX is working on a positive cross of the crude futures which will pull crude futures higher if it follows through.
The SOX was the top gun on the day and recorded a new high on the move.
The BKX was stronger than the market and made a new high on the move. Keep in mind that price is in the overbought Gann area.
The XAU remains trapped between the major moving averages and has been a source of funds.
The OSX remains on the verge of a major breakout or failure. A few more bars are required for confirmation.
Oil:
Gold:
Stock Picks Recap for 2/8/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, PMTC triggered long (without market support due to opening five minutes) and didn't work, although it pulled back and went again later and worked:
CBSH triggered short (with market support) and didn't work:
In the Messenger, Rich's CELG triggered short (with market support) and worked:
His GS triggered short (with market support) and worked:
His NFLX triggered short (with market support) and worked for a point:
EA triggered short (with market support) and worked:
AAPL triggered long (with market support) and worked great:
In total, that's 6 trades triggering with market support, 5 of them worked, 1 did not.
Forex Calls Recap for 2/8/12
Wow, 50 pips of range on the EURUSD. Ouch, what a session. GBPUSD stopped well in the money from yesterday, but a new call triggered short and stopped. See GBPUSD below.
Here's the US Dollar Index intraday with market directional lines:
New calls tonight and Chat.
EURUSD:
Triggered long at A and stopped:
GBPUSD:
Second half of yesterday's long idea stopped in the money for around 45 pips at A:
Stock Picks Recap for 12/7/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
Nothing triggered from the report.
In the Messenger, Rich's HGSI triggered long (without market support) and didn't work:
His CSTR triggered short (with market support) and worked for a point:
His GS triggered short (with market support) and worked:
His SHLD triggered long (without market support) and worked:
His RGLD triggered short (without market support) and didn't work:
His APKT triggered long (with market support) and worked enough for a partial:
None of my calls in the Messenger triggered.
In total, that's 3 trades triggering with market support, all 3 worked, although not huge.
Tradesight Market Preview for 2/8/12
The ES expanded the range to close up on the day by 6 handles. Price has so far been contained by the 7/8 level with the Seeker count getting mature but still only 10 bars up on the run.
The NQ futures were only higher by 3 on the day which is a slight lag relative to the broad market. Today was the 13 count in the Seeker exhaustion run which suggests that a downward reversal is close at hand.
The 10-day Trin is still neutral and has not recorded an overbought reading.
The put/call ratio remains neutral:
The chart to reevaluate at the end of the week will be the NDX/SPX cross. The NASDAQ side is taking a rest. If this turns into actual relative weakness then we will start to emphasize the short side of the market.
The XOI was the top gun on the day and is breaking out away from the triangle consolidation pattern. The Gann box will bullishly frame shift tomorrow.
The SOX was flat on the day with little change and price still under the rising channel. Keep a close eye on the MACD.
The BKX was unchanged on the day and now has two consecutive narrow range days to consolidate the range expansion from last week. Set an alarm for a break above or below Monday’s range.
The OSX closed at the 8/8 level. This is a very key area because of where the active DTL resides. This is another chart that needs to be watched closely this week.
The BTK has a 9-13-9 active and is very overbought. Look to this sector for reversal ideas if the market cracks. Profit taking should be fast and furious if it develops.
Gold was pulled back to the 4/8 level helped by acute dollar weakness.
Forex Calls Recap for 2/7/12
Slow overnight and then some movement finally for the US session. Stopped out of the second half of the EURUSD long from the prior day in the money, then two stops, then a new winner that is still in play.
Here's the US Dollar Index intraday with our market directional lines:
New calls and Chat tonight.
EURUSD:
Second half of the trade from the prior day stopped in the money under the LBreak (lower red line). New trade triggered short at A and stopped for 25 pips:
GBPUSD:
Triggered long overnight at A and stopped. Put it back in in the morning and triggered at B (or the second attempt, either one) and hit first target at C, still holding second half with a stop under R1:
Stock Picks Recap for 2/6/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, TIVO gapped over, no play.
DISCA triggered long (with market support) and didn't work:
PWRD triggered long (without market support due to opening 5 minutes) and worked great:
No extra calls in the Messenger as we had a pretty bad volume warning.
In total, that's 1 trades triggering with market support, it didn't work, I stayed focused on TLT from the ETFs and DRYS from the small cap on a dull day.
Stock Picks Recap for 2/6/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, TIVO gapped over, no play.
DISCA triggered long (with market support) and didn't work:
PWRD triggered long (without market support due to opening 5 minutes) and worked great:
No extra calls in the Messenger as we had a pretty bad volume warning.
In total, that's 1 trades triggering with market support, it didn't work, I stayed focused on TLT from the ETFs and DRYS from the small cap on a dull day.
Forex Calls Recap for 2/6/12
Early trigger that most probably didn't take due to the Super Bowl, but a clean trigger in the morning that worked and still going. See EURUSD below.
Here's the US Dollar Index intraday with market directional lines:
New calls and Chat tonight.
EURUSD:
Triggered short early (but with a gap) at A and gave you a couple of hours to enter if you weren't watching the game. Hit first target at B, lowered stop in the morning and stopped at C, but that was also a new call for a long that triggered at C, hit first target at D (note the perfect use of Pivot), currently holding with stop under 1.3100:
