Forex Calls Recap for 5/24/11
Couple of early triggers that went nowhere. Main trigger on European open worked. See EURUSD below. Light ranges overall again, must be the start of summar.
Here's the US Dollar Index intraday with our market directional tool:
New calls and Chat tonight.
EURUSD:
Triggered short early (half size) at A, came within a few pips of the target at B and then stopped. Triggered long early (half size) at C and stopped at D. Triggered long again for European session at E, hit first target at F, holding with a stop under UBreak:
Stock Picks Recap for 5/23/11
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.
Market direction was essentially neutral all morning.
From the report, CPWR triggered short (without market support due to opening five minutes) and worked:
In the Messenger, AMZN triggered short (without market support) and didn't work:
AAPL triggered long (with market support) and didn't work:
Rich's MON triggered long (with market support) and worked:
AMGN triggered long (with market support) and didn't work:
In total, that's 3 trades triggering with market support, 1 of them worked, 2 did not.
Stock Picks Recap for 5/23/11
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.
Market direction was essentially neutral all morning.
From the report, CPWR triggered short (without market support due to opening five minutes) and worked:
In the Messenger, AMZN triggered short (without market support) and didn't work:
AAPL triggered long (with market support) and didn't work:
Rich's MON triggered long (with market support) and worked:
AMGN triggered long (with market support) and didn't work:
In total, that's 3 trades triggering with market support, 1 of them worked, 2 did not.
Forex Calls Recap for 5/23/11
Things got off to an early start for the week with the pairs moving at the start of the Asian session and already having triggered our trade and covered some decent ground before the European session started, and then nothing much happened during the European or US sessions. Here's the US Dollar Index intraday with market directional lines:
New calls and Chat tonight.
EURUSD:
Triggered short early at A, gave you a second chance to enter at B, hit first target at C, lowered stop above S1:
Tradesight Market Preview for 5/24/11
Taking a cue from the overseas equity price action, the SP gapped down and closed almost exactly where the session opened. This makes for limited opportunities intraday and a tough trading environment. There is more meaningful economic data coming later in the week so there should be more intraday volatility coming. The SP settled just above the 4/8 level of 1312.50 but has lost the static trend line and 50dma. In the chat below two studies have been stacked for evaluation. The MACD has come into the key zero line. This is either where support comes in or where price continues and downside momentum builds. The next two sessions will be very important. The CCI is oversold but not climatically so implying that there is both some oversold bounce potential as well as short term momentum exists. Keep in mind that the CCI tends to lead price while the MACD is a lagging or confirming indicator.
Naz has a very similar internal design compared to the SP. Note that the Naz CCI is climatically oversold reading <200.
Multi sector daily chart:
The put/call ratio has retreated from a mild overbought reading Friday.
The 10-day Trin closed right at the 1.35 oversold threshold, implying that there is now oversold energy in the market for the first time since 2010.
The XAU was the “least worst” sector on the day only down 0.74% but below all three major moving averages. Note that the MACD is close to a positive turn.
The BKX lost the 200dma and expanded the range lower, making a new low close for 2011.
The BTK is close to the low of the recent range and the MACD is leaking.
The SOX has fallen all the way back to the DTL breakout. Nothing positive happening here as the current Seeker count is only 7 days down. Note that the CCI is solidly oversold.
The OSX retreated to the low of the recent range and was the last laggard in performance. 256 is key support, especially on a closing basis.
Oil:
Gold:
Stock Picks Recap for 5/20/11
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, SANM triggered short (with market support) and worked, though not much:
In the Messenger, Rich's JPM triggered long (without market support) and didn't work:
His FSLR triggered short (with market support) and worked:
GOOG triggered short (with market support) and worked:
AAPL triggered short in the afternoon (with market support) and worked:
In total, that's 4 trades triggering with market support, all 4 of them worked.
Forex Calls Recap for 5/20/11
The week started off decent, got pretty bad (including one day without a trade triggering, which is rare) and ended with a more than 100 pip winner to final target in the EURUSD.
Here's a look at the US Dollar Index intraday with market directional:
As usual with the Sunday report, we'll take a look at the action from Thursday night/Friday, then look at the daily charts heading into the new week, and then look at the US Dollar Index. See EURUSD and AUDUSD below for trade call recaps.
This next week has none of our big data here in the US, so it should be a straight-forward trading week. Next weekend is a three day weekend with the Memorial Day holiday on Monday.
EURUSD:
Triggered short at A, hit first target at B, closed final piece at C at the tri-star level to end the week as time was running out, which ended up being the right choice:
AUDUSD:
Scalp call in the Messenger long over UBreak (red line) worked straight to R1:
Tradesight Market Preview for 5/20/11
Thursday, before option expiration, the SP added 3 handles to the rebound. Note that price closed right at the February high. One key feature of the day was that a price flip was recorded and the chart now has the first day of a sell setup in place.
The Naz is still being contained under the 8/8 level. The futures settled higher by 7 on the day but need to punch through and settle above 2375 level.
Multi sector daily chart:
The BKX was little changed and still below the DTL.
The XAU is still below all the important moving averages and consolidating for a move.
The OSX is still trapped in its consolidation range.
The BTK touched the 8/8 level and was rejected. This chart looks vulnerable to corrective activity. Note that the MACD is already rolling over.
The SOX was the last laggard on the day which is always cause for concern.
Oil traded mostly inside yesterdays range.
Gold posted an inside day and continues to hold above the static trend line.
Stock Picks Recap for 5/19/11
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, DISCA triggered long (without market support due to opening five minutes) and worked:
VRSN triggered long (with market support) and didn't work:
VOLC triggered long (without market support) and worked great:
AMAT gapped under the short trigger, no play.
In the Messenger, we had some issues for the first hour and couldn't post trades, so our RIMM call that we made in the room wasn't official.
Meanwhile, NFLX triggered short (with market support) and didn't work:
Nothing else triggered.
In total with the Messenger issue, that's only 2 trades triggering with market support, neither worked.
Forex Calls Recap for 5/19/11
Another dull session, but this one with the narrowest ranges of the week. Almost went another day without a trigger. See GBPUSD and NZDUSD below.
US Dollar Index intraday with market directional:
New calls tonight. No major news due, and tomorrow is options expiration, which doesn't directly affect Forex except at the quarterly expiration, but it can still mean the major players are...paying less attention.
GBPUSD:
Triggered long at A and stopped:
NZDUSD:
Mentioned in the initial comments the two-day base against UBreak for a scalp entry. That triggered at A and worked:
