They broke down………
Posted by Cire2222 on May 22, 2008
if you refer to my post yesterday( http://tradersbase.com/daily-review/dow-breaks-trend-others-do-not/index.html ) I talked about a couple markets holding trend lines that should break down this week. Well they all broke except for the VIX. Dow broke down yesterday and today the S&P broke down and the transports broke down. To my suprise the VIX did break it’s down trend but did not close above it. This means to me that the fear is not baked into this market yet and we could have more room to fall. The markets should find a little support here as we approach the 50ema and a piror breakout level that has acted as support a couple times. I would like to get some charts up but it’s really late. So look for a little bounce or some chop but I do expect more selling.
Dow breaks trend, others do not
Posted by Cire2222 on May 20, 2008
Today we saw the Dow close below its uptrend line, Bearish signal. However the S&P and the dow transports (been a market leader)are still holding the uptrend and the VIX is still holding downtrend. What does this mean? Is the Dow leading the way down? I think that this market wants to break down and give us a little correction off this rally. If the S&P breaks back down through 1400 level I would expect the selling to continue. The fact that we broke past the 200MA and the 50%fib couldn’t hold is keeping me bearish right now.
Not too much to do here
Posted by Cire2222 on Apr 23, 2008
Right now I don’t see too many swing trade entries. I think the GBP/JPY forex pair is still sitting at a decent long entry level and the EUR/USD may be primed for a sell off. Gold has continued to take a beating but right now is not the best time for an entry if your not already short. The S&P has no clear direction to me, see chart below for some thoughts on the stock market index.
Going for the Gap?
Posted by Cire2222 on Apr 21, 2008
If we can get a break of todays lows I think we should be able to go down and fill the gap left on thursday. Below you will see a chart on the S&P mini futures showing the gap.
Wed night review
Posted by Cire2222 on Apr 9, 2008
We got the sell off that I mentioned yesterday, Gold worked out well again then reversed, I hope you guys had good exits on that. Couple stocks performing well and one giving a hard time. Hope your trading went well today!
