Forex Calls Recap for 6/23/11
Got some good action finally as the US Dollar got stronger for the session, we got big ranges in the GBPUSD and EURUSD, and we ended up with about 100 pip winners on both (see below).
US Dollar Index intraday with market directional tool:
New calls and Chat tonight to wrap up the great week.
EURUSD:
This was an additional call made ahead of the European session, triggered short at A, hit first target at B, stopped the final piece for 100 pips at C:
GBPUSD:
Triggered short at A but gave you until European open at B to take without stopping, hit first target at C, stopped final in the money at D:
Forex Calls Recap for 6/23/11
Got some good action finally as the US Dollar got stronger for the session, we got big ranges in the GBPUSD and EURUSD, and we ended up with about 100 pip winners on both (see below).
US Dollar Index intraday with market directional tool:
New calls and Chat tonight to wrap up the great week.
EURUSD:
This was an additional call made ahead of the European session, triggered short at A, hit first target at B, stopped the final piece for 100 pips at C:
GBPUSD:
Triggered short at A but gave you until European open at B to take without stopping, hit first target at C, stopped final in the money at D:
Tradesight Market Preview for 6/23/11
The SP posted a very sloppy day on the chart, losing 8 on the day and closing at the dead low. Late in the day, after Fed chairman Bernake signaled that there will be no QE3, bids evaporated and enthusiasm left town. The technicals remain unchanged though the bulls didn’t put up a fight to register a measuring day to build on. Instead the chart now has a compromising midrange king and queen pattern on the chart which implies a break under Tuesday’s low would turn the pattern back to short-term negative (a loss of the 10ema). Keep in mind that the MACD still has a positive cross and the CCI has yet to get overbought.
On a relative basis, the Naz was considerably stronger than the SP. Compared to the SP the Naz put in a measuring day where price held above the midpoint of the prior day’s range. Both the Naz and the SP settled right at the 10ema. 2250 is the next hurdle for the bulls.
Multi sector daily chart:
The XAU was top gun taking a shot at the 4/8 level. There is still a considerable amount of upside room for more of a bounce before overhead begins with the declining 50dma.
The OSX was green and recorded the second day up in the Seeker sell setup. Price remains below the active DTL.
The BTK was about unchanged.
The SOX continues the bearishly underperform the Naz. Price remains below the 10ema.
The BKX was almost twice as weak as the broad market but held above Tuesday’s low.
Oil is pinched between the 10 and 200 period moving averages. Once this is resolved it should move quickly.
Gold pushed above the DTL but did not record a new high on the move.
Tradesight Market Preview for 6/23/11
The SP posted a very sloppy day on the chart, losing 8 on the day and closing at the dead low. Late in the day, after Fed chairman Bernake signaled that there will be no QE3, bids evaporated and enthusiasm left town. The technicals remain unchanged though the bulls didn’t put up a fight to register a measuring day to build on. Instead the chart now has a compromising midrange king and queen pattern on the chart which implies a break under Tuesday’s low would turn the pattern back to short-term negative (a loss of the 10ema). Keep in mind that the MACD still has a positive cross and the CCI has yet to get overbought.
On a relative basis, the Naz was considerably stronger than the SP. Compared to the SP the Naz put in a measuring day where price held above the midpoint of the prior day’s range. Both the Naz and the SP settled right at the 10ema. 2250 is the next hurdle for the bulls.
Multi sector daily chart:
The XAU was top gun taking a shot at the 4/8 level. There is still a considerable amount of upside room for more of a bounce before overhead begins with the declining 50dma.
The OSX was green and recorded the second day up in the Seeker sell setup. Price remains below the active DTL.
The BTK was about unchanged.
The SOX continues the bearishly underperform the Naz. Price remains below the 10ema.
The BKX was almost twice as weak as the broad market but held above Tuesday’s low.
Oil is pinched between the 10 and 200 period moving averages. Once this is resolved it should move quickly.
Gold pushed above the DTL but did not record a new high on the move.
Stock Picks Recap for 6/22/11
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, TSCO triggered long (with market support) and worked:
BECN triggered long (with market support) and worked enough for a partial:
FAST triggered long (with market support) and didn't work:
In the Messenger, Rich's BIIB triggered short (without market support) and didn't work:
His RIMM triggered long (with market support) and worked enough for a partial:
GOOG triggered long (with market support) and didn't work:
AMZN triggered short (without market support) and worked:
In the late day, with the market heading down, AAPL triggered short (with market support) and worked great:
In total, that's 6 trades triggering with market support, 4 of them worked (several great); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES 2 did not.
Stock Picks Recap for 6/22/11
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, TSCO triggered long (with market support) and worked:
BECN triggered long (with market support) and worked enough for a partial:
FAST triggered long (with market support) and didn't work:
In the Messenger, Rich's BIIB triggered short (without market support) and didn't work:
His RIMM triggered long (with market support) and worked enough for a partial:
GOOG triggered long (with market support) and didn't work:
AMZN triggered short (without market support) and worked:
In the late day, with the market heading down, AAPL triggered short (with market support) and worked great:
In total, that's 6 trades triggering with market support, 4 of them worked (several great); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES 2 did not.
Forex Calls Recap for 6/22/11
Pretty dull action except on the GBP-based stuff. Have a look at how the Average Daily Range lines were the exact high and low of the GBPUSD below.
Meanwhile, one winner and one loser on the EURUSD, see that section below.
Here's the US Dollar Index daily chart intraday with market directional lines from our tool:
New calls and Chat tonight, back to normal size. No reaction from the Fed.
EURUSD:
Triggered long at A and stopped at B. Put trades back in with Messenger update in the morning, triggered long at C, hit first target at D, stopped second half at entry:
Forex Calls Recap for 6/22/11
Pretty dull action except on the GBP-based stuff. Have a look at how the Average Daily Range lines were the exact high and low of the GBPUSD below.
Meanwhile, one winner and one loser on the EURUSD, see that section below.
Here's the US Dollar Index daily chart intraday with market directional lines from our tool:
New calls and Chat tonight, back to normal size. No reaction from the Fed.
EURUSD:
Triggered long at A and stopped at B. Put trades back in with Messenger update in the morning, triggered long at C, hit first target at D, stopped second half at entry:
Tradesight Market Preview for 6/22/11
The SP gained 14 on the day. Price is now short-term positive since it settled above the 10emaf or the first time this month. Also a price flip was recorded since the close was above the close 4 days ago. Note that the MACD has crossed over but remains well below the zero line where real momentum can develop.
Naz was higher by 44 settling above the 200 and 10 period moving averages. The next important hurdle for the bulls to jump is the 4/8 Gann level. A MACD cross is on deck.
The 10-day Trin has dropped fast from oversold (>1.35) to near overbought (<0.85) already.
Multi sector daily chart:
The XAU was top gun on the day, gaining 3%. The chart has recorded a price fip.
The SOX was stronger than both the SP and the Naz but remains below the 200 and 10 day ma’s.
The CYC index was highlighted in last nights report noting the good relative strength. Tuesday, the leading index was a top performer and recorded a bullish MACD cross.
The OSX closed right at the 10ema and now needs to break above the active DTL.
The BTK underperformed Naz.
The BKX traded in-line with the performance of the broad market. The Seeker study did record a sell setup price flip.
Oil was held under $95 even with the strong performance of overall equities.
Gold closed right at the DTL:
Tradesight Market Preview for 6/22/11
The SP gained 14 on the day. Price is now short-term positive since it settled above the 10emaf or the first time this month. Also a price flip was recorded since the close was above the close 4 days ago. Note that the MACD has crossed over but remains well below the zero line where real momentum can develop.
Naz was higher by 44 settling above the 200 and 10 period moving averages. The next important hurdle for the bulls to jump is the 4/8 Gann level. A MACD cross is on deck.
The 10-day Trin has dropped fast from oversold (>1.35) to near overbought (<0.85) already.
Multi sector daily chart:
The XAU was top gun on the day, gaining 3%. The chart has recorded a price fip.
The SOX was stronger than both the SP and the Naz but remains below the 200 and 10 day ma’s.
The CYC index was highlighted in last nights report noting the good relative strength. Tuesday, the leading index was a top performer and recorded a bullish MACD cross.
The OSX closed right at the 10ema and now needs to break above the active DTL.
The BTK underperformed Naz.
The BKX traded in-line with the performance of the broad market. The Seeker study did record a sell setup price flip.
Oil was held under $95 even with the strong performance of overall equities.
Gold closed right at the DTL: