Forex Calls Recap for 6/16/11
Closed out the final piece of the EURUSD trade from the prior session for 250 pips or so, and also a new winner on the GBPUSD that worked clean (see both sections below). In addition, take a look at the perfect USDJPY Value Area entry below.
New calls and Chat tonight heading into triple options and futures expiration, which is usually dull even for Forex because of all of the implications of those expirations.
Here's the US Dollar intraday with market directional tool:
EURUSD:
Stopped out of the final piece of the prior day's trade for 250 pips:
USDJPY:
Set the VAH perfect at A and then broke in at B short and worked:
GBPUSD:
Triggered short at A, hit first target at B, lowered stop and closed final piece at C:
Tradesight Market Preview for 6/16/11
The SP gapped down and closed at a new low on the move, losing 24 on the day. Price came close to key support at the 200dma. There is still a chance for a positive change trend for the bulls but they still need to reclaim the 10ema.
Naz lost 42 on the day and for the first time on the move settled below the 200dma. On the positive side of the technical ledger, price remains above the March lows and has completed a Seeker buy setup.
Multi sector daily chart:
The P/C ratio remains elevated, closing at 1.15:
The Dow/Gold ratio made a new low on the move which is a function of investors currently favoring a hard asset over stocks.
The BTK was the least bad sector on the day. The pattern is 8 days down but will not qualify for a CIT or bounce unless the close of candle 9 is below both 6 and 7.
The XAU was very strong in light of the strength of the $US today. A divergence may be developing. Price is being supported by the completed Seeker 9 bar setup.
The BKX is still a few candles short of a 13 buy countdown.
The OSX traded in line with the broad market and is still above the 0/8 Gann level and the 200dma.
The SOX made a new low close on the move but not a new intraday low. This could be an important development since the market leading index did not make a new low on the move.
Oil made a new low on the move. The bias is down with a confluence of major support just below where the 2010 high, 50% fib and 200dma converge.
Gold was higher on the day, as a sage harbor, even in the face of acute strength in the $US.
Stock Picks Recap for 6/15/11
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, EBAY triggered short (without market support due to opening five minutes) and didn't work, but it did trigger short later with market support and worked:
From the Messenger, RIMM triggered short (with market support) and worked:
SINA, a strange pattern for sure, triggered short (with market support) and worked:
AMZN triggered short (with market support) and worked:
Rich's EBAY triggered short (with market support) and worked:
His FSLR triggered short (with market support) and didn't work:
His JNPR triggered short (with market support) and worked:
GOOG triggered short (with market support) and worked enough for a partial late in the session:
In total, that's 7 trades triggering with market support, 6 of them worked, 1 didn't.
Forex Calls Recap for 6/15/11
Half size trading ahead of the CPI, but we still scored a big winner in the EURUSD. See below, and the trade is still going.
Here's a look at the US Dollar Index intraday with market directional tools:
Back to normal size tonight with new calls and Chat.
EURUSD:
Triggered short early at A, but gave you hours all the way until the European session start at B to enter under the red LBreak line. Hit first target at C. Lowered stop several times in the morning and currently have a stop over line at D:
Forex Calls Recap for 6/15/11
Half size trading ahead of the CPI, but we still scored a big winner in the EURUSD. See below, and the trade is still going.
Here's a look at the US Dollar Index intraday with market directional tools:
Back to normal size tonight with new calls and Chat.
EURUSD:
Triggered short early at A, but gave you hours all the way until the European session start at B to enter under the red LBreak line. Hit first target at C. Lowered stop several times in the morning and currently have a stop over line at D:
Stock Picks Recap for 6/14/11
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, gapped over KITD, no play.
CTSH triggered short (without market support) and worked great:
Rich's RENN triggered long (with market support) and worked:
His DANG triggered long (with market support) and worked:
His YOKU triggered long (with market support) and worked:
His NFLX triggered short (without market support) and didn't work:
Rich's FSLR triggered long (with market support) and worked great:
His AAPL triggered long (with market support) and worked great:
AMZN triggered long (with market support) and worked:
RIMM triggered short (without market support) and worked great:
Rich's CEO triggered long (with market support) and didn't work:
BIDU triggered long (with market support) and worked enough for a partial:
In total, that's 8 trades triggering with market support, 7 of them worked, 1 did not.
Forex Calls Recap for 6/14/11
Not a very exciting night. See GBPUSD and EURUSD for a winner and a loser, and there wasn't much for additional setups. Also, see NZDUSD below for the scalp call review.
Here's the US Dollar Index intraday with market directional tool:
CPI in the morning is one of our Big Three data pieces each month, so half size. New calls and Chat tonight.
EURUSD:
Triggered short at A early (half size) and didn't work, stopped for 20 pips:
GBPUSD:
Triggered long at A early (half size); 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 hit first target at B, raised stop under UBreak entry and stopped second half:
Tradesight Market Preview for 6/15/11
The SP made good off the completed Seeker buy setup and also the 1200 individual stocks that were 9 days down by reversing higher by 18 handles. Note that Tuesday’s candle was a price flip and also interacted with the 10ema.Watch the CCI for a trend break which will lead a possible MACD buy signal that would come later.
Naz was higher by 27 but did not record a price flip. A close back above the 10ema or a price flip would turn the chart back to short-term positive. Note the CCI on the lower portion of the chart.
Multi sector daily chart:
The OSX was top gun on the day, +2.5%. Price challenged but did not reclaim the 10ema. Key support is just below at the 200dma.
The SOX outperformed the broad market and Naz but needs to reclaim some key areas, the 0/8, the 200dma and the 10ema before a change in trend can be called.
The XAU recorded a price flip and now needs to follow through.
The BTK continues to struggle and was weaker than the overall market. The notable failure was the inability to exceed the prior day’s high. Over weight this sector for short opportunities if the tape turns lower again.
The BKX attempted higher prices mid-day but was met with selling. A completed Seeker buy countdown would help but is currently only 11 out of 13 required days down.
Oil was higher on the day, back near the $100 midpoint of the recent range.
Gold posted an unimpressive inside day.
Tradesight Market Preview for 6/14/11
The SP gapped higher and finished the session with a slim gain of 2 handles. The Seeker buy setup has now recorded 9 bars down and is staging just above the critical 200dma. In sync with the broad market there are a whopping 1198 stocks 9 days down and 852 “on deck” 8 days down. This is a big opportunity for the bulls to turn the tape back in the favor. No bounce or change in trend would be a very notable failure.
The Naz futures are weaker on a relative basis and already interacting with the 200dma.
The NYSE cumulative A/D line took a substantial hit last week but is not bearishly leading price. Rather it is following price which usually leads to a smaller rather than large correction.
The BKX was one of the strongest sectors on the day, up 1%. Note that the BKX breaking above the 10ema would also break price back above the 6/6/11 range expansion candle and turn the chart short-term positive. The chart is still two candles away from a Seeker buy signal.
The BTK closed below Friday’s low and has support in the area of the active static trend line and the 4/8 Gann level.
The SOX moved farther below the 200dma and deeper into the oversold support levels in the Gann box. Next support is 390.62. Note that the seeker is 8 days down and will recycle the buy countdown if candle 9 of the setup phase prints.
The XAU made a new YTD low and in so doing recorded day 9 of the Seeker buy setup.
The OSX broke down below the recent range and was the last laggard on the day losing 2%. There are 2 key support areas close by, the 0/8 Gann level (used today) and the 200dma.
Oil was very weak but remains in the same range between $95-105.
Gold is in jeopardy of breaking a key DTL. A break below the DTL and the 50dma will turn the bias down.
Tradesight Market Preview for 6/14/11
The SP gapped higher and finished the session with a slim gain of 2 handles. The Seeker buy setup has now recorded 9 bars down and is staging just above the critical 200dma. In sync with the broad market there are a whopping 1198 stocks 9 days down and 852 “on deck” 8 days down. This is a big opportunity for the bulls to turn the tape back in the favor. No bounce or change in trend would be a very notable failure.
The Naz futures are weaker on a relative basis and already interacting with the 200dma.
The NYSE cumulative A/D line took a substantial hit last week but is not bearishly leading price. Rather it is following price which usually leads to a smaller rather than large correction.
The BKX was one of the strongest sectors on the day, up 1%. Note that the BKX breaking above the 10ema would also break price back above the 6/6/11 range expansion candle and turn the chart short-term positive. The chart is still two candles away from a Seeker buy signal.
The BTK closed below Friday’s low and has support in the area of the active static trend line and the 4/8 Gann level.
The SOX moved farther below the 200dma and deeper into the oversold support levels in the Gann box. Next support is 390.62. Note that the seeker is 8 days down and will recycle the buy countdown if candle 9 of the setup phase prints.
The XAU made a new YTD low and in so doing recorded day 9 of the Seeker buy setup.
The OSX broke down below the recent range and was the last laggard on the day losing 2%. There are 2 key support areas close by, the 0/8 Gann level (used today) and the 200dma.
Oil was very weak but remains in the same range between $95-105.
Gold is in jeopardy of breaking a key DTL. A break below the DTL and the 50dma will turn the bias down.