Welcome 2008 !

May 2008 bring much Laughter, Love, Blessings and Protection, for one & all...HAPPY NEW YEAR!

EURO Futures: Leg 1 of Bear Break, on the SWING Chart

My EURO Futures SWING Chart above...PRICE has just made a PRIME Higher High (against last PRIME Resistance at 1.4752), effectively creating Leg 1 of Bear Break, on my SWING Chart.And with PRICE in PRIME, on my POSITION Chart, we will definitely see the last PRIME Resistance at 1.4977 challenged, any time soon. On my POSITION Chart, the EURO is still in a BULL TREND.

Leg 1 of Back Door Bull Break, on the TREND Chart

My ES TREND Chart above...PRICE did pierce through the previous session's low of 1485.25 and has thus effectively created Leg 1 of Back Door Bull Break, on the TREND Chart. On the POSITION Chart, we are also poised to see a Leg 1 of Back Door Bull Break happening...We cannot confirm the market top (Position Chart-Wise) as yet but it is the very first warning sign of things to come.

A Possible PRICE Failure (PRIME Lower High), on the ES SWING Chart

10:38pm With the SWING Chart pointing down, I am waiting for a Minor, or PRIME PPF on my Trading Chart to go SHORT.10:50pm SHORT 1496.75 / STOP 1497.7510:53pm Out at 1497.50 / -0.75pts. PRICE is taking too long to roll over. Will try another SHORT again...10:59pm Volume is pretty thin, so be prepared for "whip-saws".11:04pm What a waste ! If only the PRICE movement had been faster just now, I

Here's Wishing One & All A Happy & Blessed Christmas !

Here's the British Pound Futures SWING Chart. Currently Leg 1 of Bull Break is in Progress

My British Pound Futures SWING Chart above...PRICE made a PRIME Lower Low and as such, has created Leg 1 of Bull Break. Looking at my TREND Chart, there is yet to be any sign, that the bottom is in, for this down move. Once a confirmation of the down move is shown, PRICE will then have to head back up, to challenge Last PRIME Resistance, at 2.1138, to fail, and to get us a PRIME Lower High, for

DOW Futures (YM) Still Needs to Clear 13797 for the Change in TREND

My Dow Futures (YM) SWING Chart above...

Bull TREND on the ES TREND Chart

My ES TREND Chart above...

Latest Update on the BRITISH POUND

Leg 1 of Bull Break has occurred on the BRITISH POUND SWING Chart.

BRITISH POUND Futures in danger of Leg 1 of Bull Break happening, on the SWING Chart

My BRITISH POUND Futures SWING Chart above...

Leg 3 in Progress, on the TREND Chart?

My ES TREND Chart above...PRICE is definitely doing Leg 3 of Bear Break...whether it fails or not (meaning a PRIME Lower High), we will know tonite.

Leg 1 of Bear Break on the TREND Chart

My ES TREND Chart above...11:55pm PRICE has made a PRIME Higher High, on the TREND Chart, thus creating Leg 1 of Bear Break.12:20am Leg 2 of Bear Break is now in progress. We need to create a PRIME Higher Low, in order for PRICE to head back up, to create a PRIME Higher High. 12:31am This pull back in PRICE looks pretty deep and scary but as long as it stays above yesterday's session low of

A Possible Change in TREND Soon?

My ES TREND Chart above...PRICE is very closed to reversing the Bear TREND, as you can see from my chart above. Clearing last PRIME Resistance would give us Leg 1 of Bear Break. My SWING Chart above...If you take the reading of the TREND Chart, together with the SWING Chart, then it looks like Leg 2 of Bear Break is also ending too...

Bear TREND on the EURO Futures SWING Chart

Looking at the above SWING Chart of the EURO Futures, the 3rd Leg of the Bull Break has just taken place today, thus creating a Bear TREND (PRICE creating a Lower Low, followed by Lower High, and then another Lower Low).

Change in TREND

My ES TREND Chart above...Just look at the 3 Legs, that changed the Bull TREND.

News of the " FED considering more liquidity moves" points to a strong market open

10:11pm News of the FED considering more liquidity moves has push the ES strongly back up. Is this merely Leg 2 of the Bull Break, on the TREND Chart, or are we gonna see PRICE reversing Leg 1 that was created last night? Today's market action holds the key...10:42pm PRICE is heading back down to challenge support. Looking for a SHORT set-up.10:51pm Will put that trade on hold. Wife just got back

As Suspected...The Market Simply "Sold" The News

My ES SWING Chart above...I've seen too many of these "set-ups", to believe that it was gonna be different this time around. Looking at the above chart, PRICE had been moving up almost incessantly since "rumours" broke, about the possible rate cut. A Bull Trap was clearly in the making. However, having said that, this has put PRICE in PRIME and as well as Leg 2 of this current Bear Break. But

Will The Markets Sell-Off, After The "Highly Anticipated Rate Cut" Is Announced?

My ES TREND Chart above...With the market running up since mid last week, in anticipation of a possible rate cut by the FED, it does look like the perfect set-up for a Bull Trap when the news is announced...

EURO Futures SWING Chart: Leg 1 of Bull Break

My EURO Futures SWING Chart...Since my last post on the EURO Futures, PRICE has made a PRIME Lower Low, on the SWING Chart, thus creating Leg 1 of Bull Break. It would still need 2 more Legs to complete the change in TREND.

TREND Chart: PRICE Heading Down to Create PRIME Support?

My ES SWING Chart above...With the SWING Chart pointing down, it looks almost certain that PRICE is heading back down to challenge last PRIME Support.

SWING Chart: Leg 1 of Bull Break in Progress

My ES SWING Chart above...PRICE took out 1496.95 rather convincingly, on the SWING Chart...does look like some more upside to go, with the POSITION Chart still pointing up.

TREND Chart: BULL TREND Resumed

My ES TREND Chart above...PRICE effectively took out the PRIME Resistance of 1486.50 (Creating new PRIME Resistance at 1489.00), and then subsequently created a new PRIME Support at 1477.25 in yesterday's trading session. Going into the close, PRICE easily Breached 1489.00 (the last new PRIME Resistance), thus creating a new PRIME Resistance.SWING ChartPRICE now needs to clear the 1496.75 level

Strong Opening

11:05pm PRICE is inching closer to the PRIME Resistance of 1486.50 which I mentioned in my previous post.

TREND Chart: PRICE Heading Back up to Challenge Last PRIME Resistance at 1486.50

My ES TREND Chart above...PRICE is heading back up to challenge last PRIME Resistance at 1486.50. If it fails to breach this Resistance, it will give us Leg 2 of Bull Break. If it breaches, it will invalidate Leg 1 of Back Door Bull Break.

TREND Chart: A Weak Leg 1 of Back Door Bull Break

My ES TREND Chart above...

TREND Chart: A Bull TREND, until PRICE Fails

My ES TREND Chart above...I was in Penang, Malaysia last Thurs (till Sunday) for my Social Club's Yearly Inter-Club Games. Didn't manage to update the blog on Thurs morning but I did see the market jump on Wednesday night. PRICE needs to clear 1496.75 as that is the last PRIME Resistance on the SWING Chart. If not, PRICE would merely be making a Lower PRIME High, further reinforcing the Bear

TREND Chart: 3 Legged BEAR Break Established Last Night - BULL TREND in Progress

My ES TREND Chart above...

TREND Chart: Another Short-Lived Leg 1 of BEAR Break - BEAR Trend Continues

My ES TREND Chart above...

TREND Chart: First "Warning Shot" - PRIME HIGHER HIGH...a Possible Change in TREND

My ES TREND Chart above...PRICE made a PRIME HIGHER HIGH in last night's trading session, thus creating Leg 1 of BEAR Break...We would need ALL 3 Legs to confirm the change in TREND.

TREND Chart: Still No Change in the BEAR TREND

My ES TREND Chart above...

TREND Chart: Still Making Lower Highs, and Lower Lows - BEAR TREND

My ES TREND Chart above...

TREND Chart: The Bear TREND Continues To Exert Itself

My TREND Chart above...

EURO Futures Continues Its Bullish TREND - SWING Chart Basis

My EURO Futures SWING ChartThe EURO continues to TREND higher as the Bullishness goes unabated.

A Change in TREND Soon...?

10:38pm A LONG Trade is setting up...10:41pm Minor Consolidation going on.10:45pm LONG 1442.25 / STOP 1441.2510:46pm First Target for this LONG is 1444.00, followed by 1445.7510:48pm First Target has been achieved...10:51pm Will hold for a better gain...hopefully - TREND Chart is pointing up, so would be worth a hold for more.10:52pm Hahaha...PRICE moved up when I was keying in my last post a

TREND Chart: The Bear TREND Continues, After Last Friday's PRIME to PRIME Consolidation

My TREND Chart above...

TREND Chart: Consolidating for the Next Move

My TREND Chart above...

TREND Chart: Will Leg 2 of Bear Break get a chance to be established?

My TREND Chart above...

SWING Chart: Are We Done With Leg 2 of Bull Break? PRIME Support at 1437.25 Must be Breached, to form Leg 3

My SWING Chart above...

SWING Chart: Leg 2 of Bull Break - PRICE is Heading Back up to Challenge Last PRIME Resistance at 1558.50

My SWING Chart above...

SWING Chart: Still Leg 1 of Bull Break

My SWING Chart above...

TREND Chart: A Possible Reverse in the Bear TREND?

My TREND Chart above...

SWING Chart: Yesterday's drop has resulted in Leg 1 of Bull Break

My SWING Chart above...

TREND Chart: Leg 1 of Bull Break has Occured

09:17pm Just stepped into the house, after having dinner outside with the family...PRICE has broken through last PRIME Support, on the TREND Chart, thus effectively creating Leg 1 of Bull Break.

Pre-Market Activity Threatens to Reverse 3 Legged Bear Break on the TREND Chart

My TREND Chart above...as of 6:56pm, Singapore Time

SWING Chart: Resumption of Leg 1 of Bull Break...Barely

My SWING Chart above...

TREND Chart: Leg 1 of Back Door Bear Break Invalidated - Resumption of Bear TREND

TREND Chart: Leg 1 of Back Door Bear Break at the end of the Trading Session

My TREND Chart above...

TREND Chart: Currently a Bear TREND

My TREND Chart above...inclusive of current PRICE movements.

SWING Chart: Is the Bull Trend in Danger of Being Derailed?

My SWING Chart above...

SWING Chart: Back on the Bull TREND

My SWING Chart above

A Positive Start to the Weekend?

TREND Chart: PRICE is trying to establish a Higher PRIME Low

10:02pm Looking for a possible LONG Trade.10:03pm A Minor PPF of Support (1515.25) would do the trick...10:06pm PRICE is in PRIME, on the TREND Chart. A Minor PPF of Support on the TRADING Chart would be my queue to go LONG.10:08pm TREND Chart has turned up. Now for that Oscillation challenge of Support, on the TRADING Chart.10:13pm I just stepped away from the PC and I completely missed that

TREND Chart: Bear TREND averted...for now

My TREND Chart above...

TREND Chart: Higher Highs & Higher Lows - Thus Leg 2 of Bull Break on SWING Chart still not done

My TREND Chart above...

TREND Chart: PRICE is Heading Up, Till it Fails...

10:14pm Looking for a LONG Trade.10:22pm With the TREND Chart having just turned down, a LONG Trade would be risky. Will see what PRICE is gonna do next.10:24pm Looks like a SHORT Trade is setting up now...10:40pm SHORT 1521.50 / STOP 1522.5010:43pm Out at 1521.25 / +0.25pts. PRICE is refusing to go down.10:45pm As usual...the "fake outs" are rampant.10:54pm Getting ready for another SHORT.10:

SWING Chart: Is PRICE Heading Back Up To Create Leg 2 of Bull Break?

My SWING Chart above...

SWING Chart: Leg 1 of Bull Break

My SWING Chart above...

PRICE Still Heading Down?

09:35pm Need some clarity in the PRICE movements first, before deciding what to do...09:41pm Will 1534.00 be breached...?09:47pm Possible LONG Trade setting up.09:54pm LONG 1537.75 / STOP 1536.7509:55pm My, my...that was fast! Stopped at 1536.75 / -1.00pt.09:56pm Will wait for PRICE to hit PRIME, before considering another LONG Trade. Don't want to get hit by another fake-out...10:00pm Minor

A Failed Attempt to find a Bottom

My TREND Chart above...Again, PRICE failed in its attempt to find a bottom last night. Other than a slight glimmer of hope in the early part of the trading session, PRICE succumbed to the continued downward pressure, and saw a intraday low of 1534.00. Looking at my TREND Chart above, the Bear TREND continues to exert itself on the ES - Lower Highs & Lower Lows. Until and when we see a change in

Are We Gonna See a Bottom in PRICE Movement Tonight?

09:46pm We are having a PRIME PPF of Support, on the TREND Chart...10:06pm PRICE on the TRADING Chart has to hold its ground first, before a LONG Trade set up appears.10:18pm Waiting for a pull back in PRICE, before going LONG.10:26pm LONG 1546.00 / STOP 1545.0010:30pm Out at 1548.25 / +2.25pts.10:32pm It's best if PRICE is able to pull back, to confirm PRIME Support, on the TRADING Chart, so as

SWING Chart: Still No Bottom In Sight

My SWING Chart aboveWith the TREND Chart still creating Lower PRIME Lows and Lower PRIME Highs, it is no wonder that PRICE, on the SWING Chart is still trying to find that elusive bottom. PRICE will continue to head in the direction it is going, until it fails...

Are We Seeing Bottom in Sight or is PRICE still Heading Down?

10:58pm TREND Chart is pointing down, so LONGs still need to be careful...11:38pm LONG Trade setting up.11:43pm Looking for an oscillation challenge of support to go LONG. TREND Chart has turned up...11:54pm Still not comfortable with the LONG. Would love it if a PRIME confirmation of Support comes along.12:19am TREND Chart has started to turn down...Look out for PRICE to head down to challenge

SWING Chart: Still no signs of PRIME Support being created

The ES continued to make Lower PRIME Highs & Lower PRIME Lows, as reflected on my TREND Chart. Until this changes, PRICE will continue in the direction it is going...

SWING Chart: Still trying to create PRIME Support

My SWING Chart above...

SWING Chart: New Highs again next week? Or is it merely a pullback in PRICE, before heading lower to create New PRIME Support?

TREND Chart: Leg 2 of Bull Break in Progress

10:30pm Waiting for a possible end in this current upmove, to end Leg 2 of Bull Break, on the TREND Chart.10:32pm Signs of weakness in the upmove - Oscillation Match at Resistance, 1570.7510:36pm TREND Chart indicator has turned down. Looking for a Minor Failure of Resistance on the TRADING Chart, to go SHORT. Still have to be careful with the SHORT, as the SWING Chart is still pointing up...10:

SWING Chart: PRICE Heading Down To Challenge Last PRIME Support at 1518.75

My SWING Chart above...

The Bull Continues to Push Higher

My SWING Chart above...As mentioned in my last post on Sat, the markets continued to push higher in last night's trading, albeit a minor pullback in PRICE on Monday. Until we see a change in the direction in PRICE, SWING trades can continue to ride the TREND.

A New High - Nothing is stopping this Bull

Last night, the ES made a new high at 1573.50. With my Longer Term Chart still pointing up, do expect more to come.

TREND Chart: Still in Leg 1 of Back Door Bull Break

Yesterday's PRICE action didn't help much in determining if Leg 1 of Back Door Bull Break on the TREND Chart was done. However, towards the end of the session, PRICE was clearly consolidating.Do look for a possible breach of Wed's session low 1546.75, to show that Leg 1 is still in progress...

SWING Chart: PRICE Heading Down to PRIME, to Establish a Higher Low

My SWING Chart above...With a Leg 1 of Back Door Bull Break on my TREND Chart, and coupled with the SWING Chart heading down, it looks like PRICE (on the SWING Chart) is heading down to challenge last PRIME Support, to hopefully establish a Higher Low. The Key Last PRIME Support is at 1518.75.

SWING Chart: Bull TREND Still Intact

My SWING Chart above...

SWING Chart: Bull TREND, but PRIME Higher Low not established yet.

My SWING Chart above...

SWING Chart: PRICE is still not done going down

A Minor PPF of Resistance (Wednesday's session high of 1552.00) on the SWING Chart, has occurred in last night's trading (Last night's high was only 1544.00). And with PRICE yet to hit PRIME Support, do look for PRICE to challenge Thursday's session low of 1528.75 in next week's trading.Only when PRICE is able to confirm Support (Minor or PRIME Confirmation), then will we see PRICE heading back

SWING Chart: Gunning for a PRIME Higher Low

My SWING Chart above...As mentioned in yesterday's post, PRICE is now heading down to find PRIME Support. In order to continue the Bull TREND, PRICE has to establish a PRIME Higher Low. No signs of failure, in the downmove as yet, on the TRADING & TREND Chart...

SWING Chart: 3 Leg Bear Break - BULL TREND

My SWING Chart above...With a potential PRIME PPF of Resistance on the TREND Chart, it looks like PRICE is set to head down to challenge last PRIME Support at 1440.75, on the SWING Chart.To maintain the Bull TREND on the SWING Chart, PRICE must create a Higher PRIME Support, or Higher Low. Do note that a challenge of "last PRIME Support" does not necessarily mean that PRICE must head all the way

" Trade with the TREND. Don't fight it..."

11:27pm It's really interesting how some amateur market commentators / guru wannabes that I came across recently, are saying things like " the market shouldn't be at these levels...we are shorting it", or "something big, like a Tsunami, is going to wipe out the rising PRICEs". Well, my Mentor did say this to me: " Trade with the TREND. Don't fight it "

FED Cuts Rate - Reinforces Leg 3 of Bear Break on SWING Chart

My SWING Chart above...

Markets on Hold?

09:56pm Sure looks like the markets will be on hold, until Big Ben talks, or decides which direction Interest Rates are heading...

A Slow, Slow Day...

Although the trading range last night was about 13 points, from the Low to the High of the session, it was all in all a pretty slow day, at the office. On the TREND Chart, PRICE is consolidating between Minor Oscillations. It can break either way...But with the SWING Chart pointing down, a downside movement seems more likely. If it does head down, it merely shows that Leg 2 of Bear Back, on the

TREND Chart: Still No Signs of Leg 1 of Back Door Bear Break Ending Yet

My TREND Chart above...Until we get a PRIME PPF of Resistance on the TRADING chart, coupled with the TREND Chart pointing down, PRICE will continue to head in the direction it is going...

TREND Chart: Leg 1 of Bear Break is still not done

My TREND Chart above...PRICE is heading in the direction it is going, until it fails. And at the moment, there is still no signs of failure as yet.

US Markets Rally on the Anniversary of Sept 11

My TREND Chart above... My SWING Chart above...From the TREND Chart above, you can see that Leg 1 of Back Door Bear Break occurred on the ES last night, during the normal trading session. At the same time, Leg 2 of Bear Break was also established, on the SWING Chart.

TREND Chart: Leg 1 of Back Door Bear Break at 09:47pm, Singapore Time

09:58pm Last PRIME Resistance at 1464.25 was taken out, thus effectively creating Leg 1 of Back Door Bear Break, on the TREND Chart.

TREND Chart: Bear TREND Continues But...

My TREND Chart above...From my TREND Chart above, you can see that the Bear TREND is still asserting itself. However, if PRICE is able to breach last PRIME Resistance at 1464.25, then it would also signal the end of Leg 2 of Bear Break, on the SWING Chart.My SWING Chart below...

TREND Chart: Leg 1 of Bear Break?

10:43pm Looks like Leg 1 of Bear Break is not to be. We have just made a PRIME Lower Low, on the TREND Chart. The Bear TREND continues...

TREND Chart: Will The Bear TREND Continue Tonight? Or Will The SWING Chart Assert Itself?

My TREND Chart above...as of 5:47pm, Singapore Time. My SWING Chart above...as of 5:51pm, Singapore Time.

TREND Chart: Bear TREND but on the SWING Chart, PRICE is still trying to establish Leg 2 of Bear Break

My SWING Chart above...

TREND Chart: Leg 2 of Bull Break - With the SWING Chart still heading up, will this Bull Break result in the 3 Full Legs?

It is crucial that PRICE does not breach last PRIME Support at 1468.25, on the TREND Chart. If it does, then all 3 Legs of the Bull Break, on the TREND Chart would be complete.10:22pm Leg 3 of Bull Break occurred at about 8:31pm, Singapore Time. Effectively, we are in a Bear TREND, on the TREND Chart.

TREND Chart: Leg 1 of Bull Break

My TRADING Chart above...as of 8:33pm, Singapore Time08:29pm With the Leg 1 of Bull Break on my TREND Chart, SHORTs would be very much the expected trades tonight. A PRIME PPF of Last PRIME Resistance at 1481.25, on the TRADING Chart would reinforce this view.08:38pm SHORT 1476.25 / STOP 1477.7508:41pm Moving STOP to 1477.2508:43pm PRICE is heading down to challenge 1469.75 - It has to breach

SWING Chart: Leg 1 of Back Door Bear Break - PRICE Challenge at next PRIME Support MUST stay above 1434.75

My SWING Chart above...

SWING Chart: Leg 1 of Back Door Bear Break

My SWING Chart above...

ES Recoups Fully the Previous Day's Losses - Possible Leg 1 of Back Door Bear Break

My SWING Chart above...

Managed to Resolve the Missing Data Issue for My Charts

My SWING Chart above...I was busy rectifying the missing data the last 2 days. I had lost some data on the 22nd & 23rd on my ES & some of the currency futures charts. Thankfully, all have been resolved.From my SWING Chart above, you can see that PRICE has made a Lower PRIME High. Now it remains to see if another Lower PRIME Low is created, which is in line with the Bear TREND. Or do we end up in

SWING Chart: Target of 1510.25 Still Intact - No PRICE Failure as Yet

My SWING Chart above...

Still Having Issues with Data for My Charts

Still trying to sort all the data issues with my charting software...Have already contacted the vendor but have yet to solve it. Will let the data sort itself out for the next few trading sessions.

SWING Chart: Still Not Out of the Woods...Yet

My SWING Chart above...As long as last PRIME Resistance at 1510.25 remains unbreached, the current upmove is merely heading up to create a Lower High, which is in line with the Bear TREND.

Breaking out to the Upside

Had some data issues when I opened up my charts this morning. Some data from 11pm to this morning ended up being in one single bar only. It seems that it only affected my ES & NQ charts. Hopefully this will resolve itself - I am a hopeless hap, at solving such "charting issues".

TREND Chart: Breaking out of Consolidation?

10:17pm Consolidation, on the TRADING Chart.

Consolidation Mode

PRICE Still Pushing Higher?

09:36pm PRICE is slightly positive at the opening bell...09:39pm TREND Chart has turned down. A possible SHORT Trade may be setting up. A Minor PPF of Resistance could well be the trigger.10:31pm The PRIME PPF of Resistance turned out to be the one.

Surprise Rate Cut Pushes PRICE Closer to the 1510.25 Target

My SWING Chart above... My TREND Chart above...

FED Rate Cut

09:41pm The markets are soaring due to the unexpected rate cut by the FED.

3 Leg Combo All in One Night

My SWING Chart above...My TREND Chart above...From the TREND Chart chart shown, you can see that the PRICE action last night resulted in the ES having 3 Legs of Bear Break all created in one session. With this, it marks the end of the downmove, and now PRICE is heading back to challenge last PRIME Resistance at 1510.25 (look at the SWING Chart. PRICE is still in a Bear TREND, but is now heading

The ES erases all Intraday Gains, going into the close of the Trading Session

My TREND Chart above...

Bear TREND but Counter-TREND Trades are still Possible.

09:56pm Definitely a short squeeze...15 points in just 15 minutes!10:29pm Watch for a potential breach of last PRIME Resistance of 1451.25, on the TREND Chart. If this happens, it will give us Leg 1 of Bear Break.12:32am New PRIME Resistance at 1446.75 on the TREND Chart.12:51am With a PRIME PPF of Support on the TRADING Chart (and with the TREND Chart pointing up), PRICE action is confirming the

TREND Chart: Bear TREND / SWING Chart: Leg 1 of Bear Break Invalidated

My SWING Chart above... My TREND Chart above...Bears are still making their presence felt in the markets. With no signs of a bottom, PRICE will just continue in the direction it is going, until it fails.

Leg 1 of Bear Break Invalidated, on the TREND Chart

My TREND Chart above...10:53pm 1444.75 has just been breached - Leg 1 of Bear Break is now invalidated, on the TREND Chart. We are back on the Bear TREND.

TREND Chart: PRICE has to stay above 1444.75, in order for Leg 2 of Bear Break to be valid.

GLOBEX PRICE Action: Leg 1 of Back Door Bear Break, on the TREND Chart

08:36pm Last PRIME Resistance being 1468.50, we have just breached this Resistance, resulting in Leg 1 of Back Door Bear Break, on the TREND Chart.

Close...Too Close

My SWING Chart above...

Though Last Night's Market Drop was Huge, We Are Actually Still Within Leg 2 of Bear Break, on the SWING Chart

My SWING Chart above...Though PRICE is still within the given range of Leg 2 of Bear Break (SWING Chart), we have to allow the possibility of PRICE piercing through last PRIME Support at 1432.25, and completely invalidating Leg 1 of Bear Break (PRIME HH), on the SWING Chart.

TREND Chart: PRICE Action in GLOBEX Session Has Resulted in Leg 1 of Back Door Bull Break

Screen shot of my TREND Chart above is taken at 09:14pm, Singapore Time.

Is the Bull Ready To Charge Again ?

My SWING Chart above... My TREND Chart above...Looking at my SWING Chart above (1st chart on top), we are now in Leg 1 of Bear Break. We still need 2 more Legs to complete the Bull TREND. So, be prepared for a pull back in PRICE, to challenge last PRIME Support at 1432.25 (to create a Higher PRIME Support Low), in order for PRICE to head higher, for Leg 3 of Bear Break to take place.Again, a

TREND Chart: Continuation of the Bull TREND

11:02pm Tonight being a holiday eve here in Singapore, I will be heading out in 5 mins time with the wife & kids. I've posted the TREND Chart to show the continuation of the Bull TREND.To all my Singapore readers, have a Happy National Day !

SWING Chart: Leg 1 of Bear Break - Higher PRIME High

Key Resistance Level To Watch: 1484.25

09:56pm Clearing 1484.25 would give us Leg 1 of Bear Break, on the SWING Chart.10:17pm We have completed Leg 2 of Bear Break. Leg 3 is now in progress.10:22pm Last PRIME Resistance on the TREND Chart, at 1473.25, must be taken out, so as to complete the 3 Legs of the Bear Break.10:45pm PRIME to PRIME consolidation, on the TRADING Chart.

Correction: Leg 1 of Bear Break, on TREND Chart

My SWING Chart above... My TREND Chart above...

A Bottom In Sight? Or Just A Temporary Reprieve?

09:30pm On the TREND Chart, we could possibly see the end of Leg 1 of Bull Break.

Still Too Early For The Bulls To Get Back Into The Water

My SWING Chart above... My TREND Chart above...As per last post last night, I mentioned the possibility of Leg 1 of Bull Break being not complete, as PRICE did not reach PRIME Resistance. That proved to be correct as subsequently after that (after a brief oscillation consolidation), a Minor PPF of Resistance gave way to a significant down move. Going into next week's trading, PRICE looks set to

TREND Chart: Short-Lived Bull TREND

11:35pm Just stepped into the house...I notice that Leg 1 of Bull Break occurred around 10:00pm, Singapore Time.12:18am Leg 2 of Bull Break in progress. This up move must not breach 1484.25, in order for this Leg to be valid.12:27am Chart posted is my TREND Chart, at 12:27am, Singapore Time.12:56am If the day's low of 1461.25 is breached before PRICE hits PRIME Resistance, then Leg 1 of Bull

Keep A Lookout for PRIME Resistance 1495.75

My SWING Chart above.... My TREND Chart above... From the TREND Chart above, you can see that PRICE has reversed the Bear TREND, with the continuation of the 3 Legs Bear Break that started on Wednesday's session. We are currently in a Bull TREND. More importantly, the level that will make or break this current TREND is the last PRIME Resistance of 1495.75 shown on the SWING Chart. Breaching it

SWING Chart: Watch out for PRIME Resistance 1495.75 - Clearing this level will give us Leg 1 of Bear Break

09:57pm We are currently on a Bear TREND, on the SWING Chart. To reverse this, PRICE needs to clear 1495.75 to give us Leg 1 of Bear Break.10:46pm PRICE needs to creat a PRIME Higher Low (Leg 2 of Bear Break - TREND Chart), in order to head higher...12:01am PRIME Higher Low has just been created at 1466.00. Leg 3 of Bear Break here we come !!12:14am PRICE just made a PRIME Higher High. We are

Tug of War

My TREND Chart above...Last night's session was clearly a Tug of War between the Bulls & the Bears. The above chart says it all. Going into the close, we are in Leg 1 of Bear Break, again.

No Such Luck...Leg 1 of Bear Break Has Just Been Invalidated

I just checked the charts and PRICE (hit a low of 1452.50 just now) has punched through last PRIME Support at 1455.25, effectively invalidating the Leg 1 of Bear Break created.We are back in the Bear TREND...Incidentally, this lower low in PRICE has also resulted in a full 3 Leg Bull Break, on the SWING Chart.

TREND Chart: Leg 2 of Bear Break Failed To Be Confirmed

My TREND Chart above...Last night, at the point where I pointed out that Leg 2 was confirmed, I had "assumed" that PRICE was on the way up to hit PRIME Resistance. However, it failed & thus, we are still in Leg 2 of Bear Break. If we do fail at PRIME Support here, it will be a closed one - the current low is just 0.50pts away from invalidating Leg 1 of Bear Break (low of 1455.25, which was the

Globex PRICE Action: Leg 1 of Bear Break

08:12pm Just stepped into the house & saw 1488.25 breached. This effectively gives us Leg 1 of Bear Break, on the TREND Chart.10:05pm Looking for a LONG trade here.10:10pm LONG 1493.50 / STOP 1492.50 - Let's see if this turns out to be an early entry...10:13pm Stopped at 1492.50 / - 1pt. Got hit by that PRICE spike...not sure why this sudden spikes are appearing now...news release has already

Almost There

My TREND Chart above...As stated in last night's only post, 1488.25 will be the crucial level to look out for, in reversing this down TREND. Breaching this level would give us Leg 1 of Bear Break.

Bear TREND Still Asserting Itself

11:12pm As long as last PRIME Resistance 1488.25 (TREND Chart) holds, the Bear TREND is still intact.

Bear Country

My TREND Chart above...The Bears dominated trading last night as the Bear TREND continued to assert itself. Each Lower High was followed by a Lower Low.PRICE will continue in the direction it is heading, until it fails.

TREND Chart: PRICE is Heading Back Up To Challenge Last PRIME Resistance at 1529.50

10:27pm In order for the Bear TREND to continue, PRICE has to print a Lower High in PRIME. Last PRIME Resistance on the TREND Chart is at 1529.5010:52pm Lower PRIME High is at 1496.5010:54pm If PRICE stays above 1471.00, we are Consolidating between PRIMEs.

Down, Down, Down...

My Swing Chart above...Sounds & looks like a scene from a war movie about submarines...You wouldn't be faulted if you were feeling this way last night, looking at the downward PRICE action of the ES.From the Swing Chart above, it clearly shows that we are still in Leg 1 of Back Door Bull Break. PRICE still needs to head back up to challenge last PRIME Resistance & fail, to create Leg 2 of Bull

Globex PRICE Action has Resulted in Leg 1 of Back Door Bear Break Being Invalidated

My TREND Chart Above...I just stepped into the house, only to be confronted by this woeful looking chart above. Leg 1 of Back Door Bull Break has been invalidated, on the TREND Chart. We are back on the Down TREND.

TREND Chart: Last Night's Session Ended With Leg 1 of Back Door Bear Break

I managed to squeeze this post in, before heading out for my seminar today...Let's see if this time round, all 3 Legs of the Bear Break will be complete. 1511.50 is the Support Level that must nnot be breached. If not, it will invalidate the Bear Break move again.

Continuation of Bear TREND, on the TREND Chart

A word of apology to my regular visitors (for not being able to post my comments on yesterday's market action)...Was out of the house very early this morning, and I only stepped in an hour ago. Same ritual again tomorrow but thank goodness, it is the last day of the 2 full day seminar (My day job related seminar).Now, back to the market...Basically, as you can see from the chart above, the

We Are On The Cusp Of Invalidating Leg 1 Of Back Door Bear Break

08:43pm Last PRIME Support is being threatened...Breaching this support will invalidate Leg 1 of Back Door Bear Break & bing us back into the Bear TREND, on the TREND Chart.08:45pm Leg 1 of Back Door Bear Break invalidated.09:11pm Will not be doing much tonight & tomorrow night. Will be involved in a 2 Full Day Seminar from tomorrow onwards.

Leg 1 of Back Door Bear Break

The ES closed near unchanged after creating Leg 1 of Back Door Bear Break, on the TREND Chart. Now, PRICE needs to stay above 1540.50 to created Leg 2 of Bear Break.

TREND Chart: Leg 1 of Back Door Bear Break Created at 7:36pm, S'pore Time

Leg 1 of Back Door Bear Break has been created. With the TREND Chart's indicator still pointing up, we should see some more upside in this up move.

Bear TREND on TREND Chart, But...

The ES was ravaged last night by a range of about 22 1/2 points, to the down side. This inevitably caused Leg 3 of Bull Break, on the TREND Chart. We are officially in a Bear TREND (TREND Chart Basis).However, what's interesting to note is that towards the close of the session, PRICE consolidated between PRIMEs at 1550.50 (Resistance) and 1540.50 (Support) & if PRICE is able to trade above

Off to a Bad Start

10:16pm Just stepped into the house, after spending 2 hours at the mall with the wife & kids. Looks like the Minor PPF of Resistance at 9:42pm gave way almost immediately to the down side - and with some strength too, I may add.10:33pm No clear signal as whether a bottom is in. Will wait for a while...11:00pm Might just get a LONG signal set up here.11:12pm Missed that LONG there.11:43pm We are

A Day of Uncertainty Amidst Leg 2 of Bull Break

My TREND Chart: My SWING Chart:Clearly, Ben's talk & the release of the FOMC minutes caused some uncertainty in the PRICE action of the ES last night. On the TREND Chart, there were Oscillation Support & Resistance Matches but these cleared up with PRICE breaching Support, towards the end of the session.A point to note also, is that we have made a PRIME Lower High, on the SWING Chart. It will be

A Positive Open In Store

09:56pm SHORT 1563.00 / STOP 1564.00 - tricky time to put in a trade. Data/News release at 10:00pm, S'pore Time.09:58pm Moving STOP to 1563.7510:01pm Moving STOP again to 1563.5010:03pm No reaction. Moving STOP to B.E.10:05pm Stopped at B.E.10:09pm Waiting for another SHORT signal.10:13pm SHORT 1562.50 / STOP 1563.5010:19pm Out at B.E. - trade was taking too long.10:21pm Just when I take it out,

Leg 2 of Bull Break Still in Progress Albeit Whipsaw PRICE Action After The Close

This is my Trading Chart. You can see clearly that that were two wild swings just after the close of the normal trading session. I really do not know what caused it. Whatever the reason, Leg 2 of Bull Break (TREND Chart) is still in progress.

A Rebound On The Cards...?

09:35pm If we get a PRIME PPF of Support, I'll start to look for LONGs - TREND Chart indicator is up.09:37pm Minor PRICE consolidation going on right now. Waiting for a clearer signal.09:42pm No PRIME PPF of Support.09:45pm Going LONG with a Minor PPF of Support.09:48pm LONG 1555.25 / STOP 1554.2509:49pm Will hold on to this trade for a while - TREND Chart indicator still up, confirming PRICE's

Messy PRICE Movements Ends With Leg 1 of Bull Break

Messy. Just downright messy. That's all I can say about the PRICE movements last night (more so in the earlier part of the session). Looking at the chart above, you can just imagine the Trading Chart's PRICE movements...

ES Recovers From Earlier Globex Losses

10:05pm TRADING Chart: Looking for a Minor PPF to go SHORT. TREND Chart's indicator has turned down.10:11pm Still no PF to go SHORT. Have to leave the house for a while. Be back later...10:27pm I'm back. If we get a PRIME PPF of Resistance here, on the TRADING Chart, it will be the signal to go SHORT.10:34pm Not pulling the trigger yet...these are the types of moves that'll tempt you, and then

Is PRICE Priming Itself For The Next Move?

As mentioned last week, PRICEs are back on the Bull TREND, on the TREND Chart. The question now on every's lips is how long is PRICE going to consolidate, before it heads higher. We need PRICE to challenge last PRIME Support, confirm it, and then head higher.

Will We See A PullBack In PRICEs Tonight?

09:47pm GLOBEX PRICE movements do suggest a pull back in PRICES, as a BREACH of PRIME Support has occurred on the TRADING Chart. Only thing preventing a SHORT Trade is that the TREND Chart's indicator has turned up.10:01pm PRICE is consolidating.10:21pm It looks like it's going to be a very slow night...may not hang around much longer if it stays this way,

TREND Chart: PRICE Needs To Challenge Last PRIME Support In Order To Head Higher

With a PRIME Matched Resistance Top at 1565.50 on the TRADING Chart, at the close of last night's trading session, PRICE looks set to head lower next week, to challenge last PRIME Support at 1515.25. Again, let me clarify this statement - It doesn't necessarily mean that the markets are gonna collapse from here. What it basically means is that PRICE will challenge the PRICE range from 1565.50,

My Mentor's Methodology Never Ceases To Amaze Me

I've learnt, in the last 2 1/2 years, from the work of my Mentor, Bill Schamp & his method of trading (click here to visit his website), is that you always need to confirm a Top/Bottom. I believe recently, one would have been bombarded from all quarters, experts calling for a market top - but from my charts, it says otherwise. And in Bill's famous words: " We Trade PRICE...And PRICE will continue

Watch Out For 1546.00 - Clearing This Resistance Will Bring Us Back Into The Bull TREND

We Are Now In Leg 2 of Bull Break, On The TREND Chart

A picture tells, a thousand words...

4 X Divergent Bottom On The TREND Chart

09:59pm PRICE is still trying to find its footing...10:57pm Non-Trading night for me...have an early appt at 7:30am tomorrow.

Last Night's Weak Session Created Leg 1 of Bull Break On The TREND Chart

PRICE was unable to sustain the initial pull back from the weak opening and as such, the continuous drop in PRICE on the ES created Leg 1 of Bull Break, on the TREND Chart. Last PRIME Support was at 1528.75 & the ES clearly had no qualms about sweeping past that level. Going into the close, PRICE is still heading down.Last PRIME Resistance on the TRADING Chart is now at 1522.75. If PRICE is able

Weak Opening

09:31pm Very weak opening on the ES.09:38pm Possible Counter-TREND LONG setting up.09:39pm Waiting for a Minor PPF of Support, with a PRICE Failure (PF) to go LONG - if it sets up, of course...09:40pm 3 Oscillation Matches at 1535.2509:41pm LONG Trade cancelled. No Minor PPF. Instead an Oscillation Lower Low. Stepping away from the screen for a while.10:03pm LONG 1531.50 /STOP 1530.5010:04pm

Out of Action

I had an extremely packed day today, seeing my clients, so I was out of action last night because I had to turn in early...

SINGAPORE STOCKS: IPC Corp, ALANTAC & Adv Sys Auto

For my Singaporean readers, I have posted some charts on the following Singapore stocks over at my TradingChartPatterns Blog. Click here to visit the blog.

SWING Chart: PRICE is still on course to challenge last PRIME Resistance at 1554.25

There is still no signs of failure, as PRICE continues it's course to challenge last PRIME Resistance at 1554.25, on the SWING Chart. I had taken 2 SHORT Trades last night, when PRICE, on the TRADING Chart presented itself with Minor PPFs. Was of course stopped out of the trade. Clearly, I should have paid more attention to the warning signs because at the point in time, the TREND Chart was still

A Possible Failure of Resistance Here?

10:22pm Will consider a SHORT Trade if we get a Oscillation PPF of 1537.5010:26pm SHORT 1536.25 / STOP 1537.2510:28pm Out at 1537.00 / -0.75pts. Up move still not done...10:30pm Will wait for another SHORT Trade - unless PRICE chooses to break through Resistance at 1539.5010:32pm Be back later...got to take my dinner.10:56pm SHORT 1536.50 / STOP 1537.5010:58pm In order for this SHORT to work,

TREND Chart Consolidation

Today, I am posting the TREND Chart, that I trade with. Have partially removed the indicators as these are proprietary to my Mentor's work.

Post Holiday Atmosphere

10:06pm Not much direction so far...11:38pm PRICE making Lower PRIME Highs & Lower PRIME Lows on the Trading Chart. Does look like it's heading down to PRIME Support, on the TREND Chart.

All quiet on the US Markets

Not much action, as the markets were closed early. Range was pretty tight, at around 5 points. Let's see what Thursday's trading session holds...Here's wishing all my US readers a Happy 4th of July!

A Little Under the Weather...

09:38pm Am feeling a little under the weather tonite...so I'll play it by ear.

PRICE is on course to challenge 1554.25 on the SWING Chart

PRICE managed to invalidate Leg 1 of Bull Break (TREND Chart), created during last Friday's trading session. However, yesterday's bullish session pulled PRICE back into the Bull TREND. And with that, PRICE is now on course to challenge last PRIME Resistance of 1554.25, on the SWING Chart. With a Higher Support PRIME Low printed at 1492.00 on the SWING Chart, the expectation for this current up

This Bull ignores the weekend's terrorist acts

10:29pm In a surprising show of resilience, the indexes are all in positive territory, completely ignoring the weekend's terrorist acts in the UK.10:32pm If the current up move is able to clear last PRIME Resistance (TREND Chart) at 1530.25, it would effectively invalidate Leg 1 of Bull Break, and bring us back into the Bull TREND, on the TREND Chart.12:04pm In case you are wondering why I am not

Review of Last Night's Trading Action

Just when the Bulls thought it was safe to come out to play, the Bears had other ideas in mind. The 3 Legs of the Bear Break was short-lived as the resulting move after Leg 3 of the Bear Break ended in Leg 1 of a Bull Break, on the TREND Chart. That move ended at 1504.50 & going into the close, Leg 2 of the Bull Break is in progress...

Can't get the charts up again...on Saturday mornings

I seem to be encountering the same problem I had last week. Can't get the charts up at all. Not sure why this is so but I guess I have to leave the review to next Monday. Cheers and have a safe weekend!Hang on...I tried another method of opening the charts and it work! Unfortunately, I am now going out for a while...so swing by later in the afternoon. I will get the review of last night's actions

Figured Out How to Get the Continuous Chart, by Accident...

10:38pm This morning, when I was trying to get the new contract out for the SIMSCI on my charting software, I stumbled upon how to plot the continuous chart by accident. After that, I quickly used the procedure to correct the other index and currency contracts I've been monitoring and I must say, it is a great relief that I have managed to find the solution.The rollover of contracts, without the

FED Leaves Rates Unchanged...Markets Also Close Unchanged

Other than the slight flutter in PRICE movements prior to & after the FED announcement, it was still a decent night of trading for some - a good 10 points in the overall range of trading.On the TREND Chart, PRICE is trying to create a Higher Low (Leg 2 of Bear Break), as it approaches PRIME Support. Last PRIME Support is now at 1492.00As for the SWING Chart, PRICE has already hit PRIME Resistance

Market on Hold?

09:56pm It looks like a quiet session, with the Fed decision out later in the day.

TREND Chart: Leg 1 of Bear Break

2 Different Legs were formed during last night's trading session:1) Leg 1 of Bull Break, on the SWING Chart &2) Leg 1 of Bear Break, on the TREND Chart.As a result, PRICE is now heading back up to challenge Resistance, on both charts...For the SWING Chart, PRICE is heading back up to challenge last PRIME Resistance at 1554.25 whilst for the TREND Chart, PRICE is still heading up, to complete Leg

Leg 1 of Bull Break on the SWING Chart

10:14pm Just stepped into the house 15mins ago, after my appt with my client.10:31pm With the low of 1492.00 at 08:30pm, S'pore Time, Leg 1 of Bull Break has been created on the SWING Chart.

PRICE is Still Flirting with 1494.25 - And Possibly a 4 x Divergent Bottom, on the SWING Chart

02:08pm PRICE is still flirting with the 1494.25 level. It hit a low of 1494.75 briefly and is now rebounding to 1496.50

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Interested in Singapore Stocks? Head over to MACD Trader's Blog for more...

GLOBEX: PRICE has hit a low of 1495.50

As of 12 Noon, S'pore Time, PRICE has hit a low of 1495.50 (11:57am, S'pore Time), on GLOBEX trading. This means that we are now just 1.25 points away from creating Leg 1 of Bull Break, on the SWING Chart.

Leg 1 of Back Door Bear Break was Shortlived...

Last night, PRICE did challenge 1518.75 and cleared it at 12:02am, S'pore Time. PRICE also created Leg 1 of Back Door Bear Break. But the market had other ideas...Shortly after clearing 1518.75 & creating Leg 1 of Back Door Bear Break, PRICE tumbled down hard, resulting in a Bear TREND again, on the TREND Chart. And now, the Bull TREND on the SWING chart is being threatened. At the close, we are

Another Lower PRIME High? A Repeat of Yesterday's Actions, Perhaps?

10:04pm Are we gonna see a repeat of yesterday's opening action? PRICE is still way below last PRIME Resistance at 1528.00 on the TREND Chart.10:15pm Looking for a SHORT, on the next PRIME or Minor PPF of Resistance (1518.75) on the TRADING Chart.10:19pm SHORT 1513.00 / STOP 1514.0010:21pm Moving STOP to 1513.50. Just in case PRICE doesn't behave itself.10:22pm Out at 1511.75 / +1.25pts - Too

ES Continues It's Bear TREND (On a TREND Chart Basis)

The ES continued its Bear TREND last night, making Lower PRIME Highs, and Lower PRIME Lows, on the TREND Chart. The 16 points pull back in PRICE up to a high of 1528.00, which started just before the release of the Existing Home Sales data was not only an Oscillation Challenge on the TREND Chart but also a PRIME PPF (1528.00 - last night's session high at 12:14am, S'pore Time) of last PRIME

Leg 3 of Bull Break is still not done

09:45pm Will have to see if we get a bottom here soon. If not SHORTs are still valid.09:50pm Existing Home Sales out at 10:00pm. Best to stay out until the dust settles.11:13pm Leg 3 of Bull Break ended at 1510.75

Start of Bear TREND, on TREND Chart Basis...But it's Still a Bull, on the SWING Chart

I am having trouble trying to get my charts up. Have been trying for the last 3 hours. Will have to leave it as it is, because once past noon, I will not have any more access to data over the weekend (My data source is IB).I will highlight the 3 Legs of the Bull Break on Monday...

It Sure Looks Like Leg 3 of Bull Break is in Progress...

10:06pm Leg 3 of Bull Break looks to be in progress. I think the crucial question here is whether PRICE will breach last PRIME Support at 1518.00 (TREND Chart) to give us the formation of Leg 3 of Bull Break.10:47pm Did not take any trades since the last post...Was busy finishing up some quotes to be sent out to my day job client.10:51pm PRICE is still making Lower PRIME Lows & Lower PRIME Highs,

Yesterday's Market Action Show That Leg 2 of Bull Break Is In Progress, on the TREND Chart

The ES made a bottom at 1518.00 at 10:03pm, S'pore Time. From that point onwards, the first glimpse of a Potential LONG was the Minor PPF of Support (TRADING Chart) that occurred at 1521.75 at 10:13pm, S'pore Time. My SHORT Trade was ideal, if not for that "fake-out" that shook out my STOP and went down in the direction of my trade.Going into the close, PRICE is heading back up to challenge last

PRICE is Still Heading Down

10:21pm It has been nearly one hour into the trading session & it seems that PRICE could well be bottoming soon - First Breach of last PRIME Resistance (1528.50 / 09:36pm, S'pore Time) - PRIME Higher High.10:23pm If we get a PRIME PPF of Support here, it would be a LONG Trade, as TREND Chart is pointing up.10:30pm Waiting for PRICE to be in PRIME Support, on the TRADING Chart. Once it reaches

As Warned Last Night, Leg 1 of Bull Break...

Other than the slight reprieve, where PRICEs pull backed to the 1550.50 level, PRICE continued its move lower as warned. Last PRIME Support (TREND Chart) at 1540.50 was challenged and breached, thus creating Leg 1 of Bull Break. That was just the beginning of more to come as PRICE continually made Lower PRIME Highs and Lower PRIME Lows, on the TRADING Chart. Going into the close, PRICE is still

Breach of 1554.00 was Short-Lived - Leg 1 of Bull Break Looming on TREND Chart

10:10pm Breaching 1554.00 was rather brief and PRICE took a turn for the worst as it went the other way, breaching last PRIME Support at 1546.75 on the TRADING Chart. Now, Leg 1 of Bull Break is looming on the TREND Chart as PRICE heads closer to the PRIME Support level of 1540.50 - It would be a really close one if PRICE is able to avoid breaching this level altogether.10:35pm One of those "deep

PRICE Is Heading Back Up To Challenge 1554.00

PRICE is on course to challenge last PRIME Resistance level at 1554.00, albeit a little PRICE consolidation, going into the close of last night's session. Key level on the TREND Chart to look out for is 1541.50 where it is the last PRIME Support. Breaching this level would inevitably bring us to Leg 1 of Back Door Bull Break.

PRICE Is Still Not Done Going Down

09:36pm Lower PRIME Support at 1541.50 on the TRADING Chart.09:39pm Potential 3 x Divergent Bottom, on the TREND Chart.09:43pm Waiting for a possible Counter-TREND LONG.09:45pm LONG 1543.25 / STOP 1542.2509:47pm Stopped at 1542.25 / -1.00pt. All the makings of a bad trade...Or was I just too early for that LONG? We shall see...09:51pm LONG 1542.00 / STOP 1541.0009:52pm Aaargh !!! Stopped again at

PRICE Consolidates

PRICE movements last night proved me wrong as the high of 1554.00 remains intact. It looked very much a forgone conclusion when during the Globex session, there was a PRIME Higher High at 1553.00 on the Trading Chart. The obvious thing to do was to wait for a PRIME Higher Low to go LONG. However, that didn't happen. But instead, a PRIME Lower Low took place, thus causing downward pressure of

The High of 1554.00 Looks Short-Lived

08:18pm Am heading out to see a client at 9pm, so I will not be able to make it back for the opening bell...be back much later.01:02am Just got back from my appointment not too long ago...not doing anything for tonight. G'nite.

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New Highs Again, on the ES

With data showing tame inflation, the Bulls took the ooportunity to rally last night. And rally they did, alright! The previous PRIME Resistance at 1543.00 was taken out so convincingly that one wouldn't have thought that as recently as just 1 week ago, Leg 1 of Bull Break had been created on the SWING Chart! In any case, last night's actions have invalidated that Bull Break, much to the chagrin

This Bull Rocks !

10:17pm Just stepped into the house...and I must say that this Bull really rocks! Leg 1 of Bull Break on the SWING Chart has effectively been invalidated. We are back on the Bull TREND, on the SWING Chart. 1543.00 was taken out very convincingly. PRICE is consolidating at the moment.10:36pm Aggressive SHORT at 1551.50 / STOP 1552.5010:38pm Stopped at 1552.50 / -1.00pt.10:46pm 3 X Divergent Top on

1543.00...is almost history

PRICE continued its push higher last night. However, it stopped short of the crucial 1543.00 level, and came back down to challenge last PRIME Support (TREND Chart basis). Going into the close of the session, PRICE is stilling making higher oscillation highs and lows.Baring any sudden change in PRICE movements, 1543.00 should be history, by tonight...

The Resurgent Bull

10:04pm Just stepped into the house...and what a pleasant surprise, in the PRICE movement. We are now just 4 points away from the last PRIME Resistance High on the SWING Chart. Clearing 1543.00 would invalidate the earlier Leg 1 of Bull Break and bring PRICEs back into the Bull TREND, on the SWING Chart.10:14pm Will be stepping away from the screen later..."Prison Break" is on the telly. LOL12:

The Reluctant Bear, This Time Round?

Though the market was a little bit shaky after the initial upmove in the early part of the session, PRICE managed to move higher, albeit with some help from the release of the FED's Beige Book Report on the Economy after lunch time. With such thrust, it is no wonder that we are now back into the Bull Trend. PRICE practically went beyond the last (1527.00) and prior (1531.25) PRIME Resistances on

Bottom in Place?

09:06pm PRICE made a PRIME PPF of Support half an hour ago at 08:36pm at 1506.00. With the TREND Chart pointing up, are we gonna see last PRIME Resistance at 1527.00 challenged and Breached? On the reverse end, do keep a look out that PRICE does not breach 1506.0009:43pm LONG 1515.25 / STOP 1514.2509:45pm Stopped at 1514.25 / -1.00pt. TREND Chart just turned down...09:46pm LONGs are still valid

Back to the Bear TREND, on the TREND Chart

PRICE made a Higher PRIME Low, and followed it up with a Lower PRIME High. But what happened thereafter (a Lower PRIME Low), pushed PRICE back into the Bear TREND.Key PRIME Resistance level to look out for would be 1527.00. Clearing this level would give us Leg 1 of Bear Break.

No Signs of a PRIME Failure in the Down Move, As Yet.

10:12pm PRICE still heading down. Minor PPF of Supports were only temporary reprieve for PRICE to head to PRIME Resistance, and to fail.10:27pm No trades so far...am preparing my work for an appt with a client tomorrow morning.

Leg 1 & Leg 2 of Bear Break

On the TREND Chart, we created a PRIME Higher High (Leg 1 of Bear Break) last night at 1531.25 & as well as hitting PRIME Support thereafter (Possible Leg 2 of Bear Break - of which the confirmation is not there yet). Only thing is that at the close, there is no indication as to PRICE having failed going down. So, for tonight's session, the expectation is for PRICE to continue to go down, until

PRICE Has Yet to Fail, Going Up

10:18pm Sorry for the late post...just got back from the car wash.10:38pm PRIME Match of Support at 1518.50 on the TRADING Chart. Possible LONG Trade setting up.10:49pm LONG 1520.25 / STOP 1519.2510:52pm PRICE is heading back up to challenge last PRIME Resistance (TRADING Chart) at 1525.7510:53pm Moving STOP to 1520.50, just in case it starts to fail here...10:59pm Out at 1522.25 / +2.00pts.11:

Still Waiting for Data to Stablise for the Sept Contract

10:39pm Again, I will be waiting for the PRIMEs to stablise on the TREND Chart, for the Sept contract...At the moment, last PRIME Resistance is at 1518.50 & last PRIME Support is at 1494.25

Leg 1 of Bull Break on SWING Chart (Sept Contract)

Just a recap for the SWING Chart: Last PRIME Resistance is at 1543.00Last PRIME Support is at 1507.75Last night, PRICE took out 1507.75, thus resulting in Leg 1 of Bull Break on the SWING Chart.

I said Roll Over Day...and not Roll Over and Play Dead.

Today is Roll Over Day, so let's hope that the markets don't "roll over & play dead"... Will not be doing anything as I mentioned before, my "lousy" charts do not have #F, so I need the data for the new month to stabilise first before any proper reading of the charts can be done.For what it's worth, the June Contract has already made a Back Door Bull Break.

Possible Back Door Bull Break on the TREND Chart

Although PRICE stayed about the last PRIME Support of 1512.50 last night, it has instead created a new PRIME Support at 1515.25. Going into the close, we made a Lower PRIME High at 1521.75. At the close, PRICE hit PRIME Support with a PRIME Match at 1515.25. Currently, PRICE is trading 1519.25 on GLOBEX.PRICE needs to clear 1521.75 to prevent this potential Back Door Bull Break. (Take note that

The Reluctant Bull?

09:57pm Just when it looked like the coast was clear for PRICE to head back up to challenge last PRIME Resistance, all Bullishness was decimated with the GLOBEX activity today. But the saving grace is that we are still above last PRIME Support at 1512.50, on the TREND Chart. Let's enjoy it while it lasts....LOL10:10pm Just observing...10:11pm 3 X Divergent Bottom on the TRADING Chart. 4 X

This Bull Ain't Dead Yet, My Friend...

GLOBEX PRICE Movements Has Resulted In PRICE Heading Down to PRIME Support on the TREND Chart

09:52pm LONG 1535.50 / STOP 1534.5009:53pm Stopped at 1534.50 / -1.00pt. That was a "fantastic" fake-out...10:00pm News-related movement...10:01pm Stepping away for a moment...best to let PRICE settle down.12:31am Whoa...big drop! No difference to me, I guess...Am turning in for the night. 1 Trade. 1 Loser.

A Really Slow Up Day

The ES consolidated for a while in the early part of last night's trading session. It managed to break out of this consolidation when it made a higher oscillation high, followed by a higher oscillation low (TREND Chart basis).One thing to note is that PRICE has not hit PRIME Support (as I originally thought it would, last night)...So let's see if a New High will be printed on the charts tonight.

Last Friday's Close Had Me Fooled...

09:34pm The Higher Oscillation High last Friday at the close gave the impression of a possible higher high in today's trading. Instead, it looks like we are heading down to challenge last PRIME Support at 1512.50 first.11:43pm PRICE is consolidating.12:01am Extremely slow session...will be calling it a day.

PRICE Movements Point to a Possible New High in Next Week's Trading

Ha! What did I tell you?

11:25pm Just got back from my day trip up north...Well, well, well...my hunch came true. The market was just priming itself to run higher.

PRICE Consolidation After the Previous Day's Big Move.

It was a tough session to trade last night as the pull backs in PRICE were almost 90-95% of it's down move. You would have to be very nimble and as well as totally aware of what PRICE was doing last night. If not, confusion would entail. We are basically consolidating (TREND Chart) and there is a sort of widening wedge (if I got it right) forming on my TREND Chart. Will have to refer to my

New PRIME High Created on GLOBEX Trading Session

02:41pm ES PRICE just hit a recent new high at 1536.00, 02:27pm, S'pore Time. We are officially back on the Bull TREND (TREND Chart basis).08:36pm This Bull is totally unstoppable...climbing wall after wall of worries. Another high at 1537.7509:38pm Was not gonna fall for that SHORT ruse again by the market...Will wait for a clearer picture before taking any action.09:43pm Signs of weakness -

Just 0.75pts Away From the Recent High

What a come back! Never in my wildest dream would I have expected such a strong reversal in last night's trading. I believe the trigger point was the release of the FOMC Minutes at 2:00am, S'pore Time. Before that, it was really touch and go as on the TREND Chart, Leg 1 of Bear Break had just been created at around 12:34am, S'pore Time and the release of the Minutes threatened to pull back PRICEs

GLOBEX PRICE Movements point to a Break of PRIME Support on the TREND Chart

09:32pm With the break of last PRIME Support on the TREND Chart, SHORTs will be the order, at the moment.09:35pm SHORTs on pull backs are still valid, but with some caution. PRICE has hit PRIME, on the TREND Chart.09:38pm SHORT 1515.00 / STOP 1516.0009:39pm Moving STOP to 1515.25. TREND Chart is trying to turn up.09:40pm Stopped at 1515.25 / -0.25pts.09:48pm Another SHORT 1515.00 / STOP 1516.0009

Consolidating Between PRIMEs, on the TREND Chart

Last night's trading action was pretty good, except that I had too many pre-conceived ideas in my head, when it came to taking the trades - LONG or SHORT TRADE & PROFIT TARGET.Looking back, I could have easily taken 5-6pts if I had placed shorter profit targets ahead of my earlier trades. This has always been an issue that I grappled with personally, and have discussed it with, a good trader

Post Holiday Bullishness?

09:36pm PRICE has yet to fail in the up move from last Thursday's low.09:37pm Would be more comfortable just sitting on my hands first...09:38pm 2 x Divergent Top on the Trading Chart.09:43pm TREND Chart has just turned down (2 x Divergent Top as well). Will be looking for a Minor PPF of Resistance on the Trading Chart to go SHORT.09:49pm No go for that SHORT. PRICE made a higher high - TREND

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Leg 3 of Bull Break Ends at 1507.75

With the long holiday weekend ahead, the trading session was rather muted but with some bullish undertones. In other words, trading in general, was slow! The high of last night's session is a Lower PRIME High - very much in line with the current Bear TREND. However, there is no indication as to whether we are done with the up move. A PRIME PPF of Resistance occurred just before the close and

Pre-Holiday Bullishness?

09:43pm Sitting on my hands first...09:54pm PRICE movement is in a mess at the moment. Need to see something clearer before doing anything.10:09pm This is crazy, just trying to decipher where PRICE is going.10:11pm Okay, now it's slightly better.10:21pm SHORT 1516.50 / STOP 1517.5010:23pm Moving STOP to 1517.2510:24pm Moving STOP to 1516.7510:27pm Stopped at 1516.75 / -0.25pts.10:29pm Will wait

3 Leg Bull Break Complete - BEAR TREND (TREND Chart)

The ES is officially in a BEAR TREND. The 3 Leg Bull Break is as follows:Start of Leg 1 - 1535.75 / End of Leg 1 - 1521.50 (Lower PRIME Low)Start of Leg 2 - 1521.50 / End of Leg 2 - 1532.50 (Lower PRIME High)Start of Leg 3 - 1532.50 / End of Leg 3 - still in progress. No signs of failure as yet (Lower PRIME Low).Do note that however, on the SWING Chart basis, we are still on a Bull TREND & PRICE

Minor PPF of Support in Globex Session (08:48pm / S'pore Time)

09:32pm SHORT 1525.25 / STOP 1526.2509:34pm Tightening STOP to 1525.5009:35pm Stopped at 1525.50 / -0.25pts.09:37pm That was a fake out that took me out. PRICE is heading past my original SHORT now - Really really frustrating!09:39pm We are getting a PRIME PPF of Support & with the TREND Chart pointing up, a LONG could be setting up.09:41pm Oops...An Oscillation change. Not too good for the LONG.

Now it's Leg 1 of Bull Break, on the TREND Chart

It's just amazing how the market always hoodwinks the Bulls, and the Bears at the same time. The way in which Leg 1 of Back Door Bull Break was quickly decimated, largely by the Globex Session's big upmove, quickly set the tone for a Bullish open. The upmove drew in the Bulls & frustrated the Bears with STOPs being hit. With both parties clearly frustrated(Bears), and involved (Bulls), the market

ES Surges 6 3/4pts to 1531.75 in Globex Trade

06:07pm Would be interesting to see if this surge continues & invalidates Leg 1 of Back Door Bull Break - which incidentally starts at 1533.25. So, this will be the key level to watch out for.09:42pm We had a Minor PPF of Resistance just now (which I did not take because I was away from the PC). With the TREND Chart pointing up strongly, I am looking for a PRIME PPF of Support to go LONG.09:43pm

TREND Chart: Leg 1 of Back Door Bull Break

The ES created Leg 1 of Back Door Bull Break at the close of last night's session. The last PRIME Support was at 1525.25 (Higher Low). PRICE then made a lower PRIME Resistance High at 1533.25 (against Last PRIME Resistance at 1534.00). By coming back down and breaking through 1525.25, printing 1525.00 at the close, this has effectively created Leg 1 of Back Door Bull Break on the TREND Chart. As

Another Flat Opening for the ES

09:50pm Just stepped into the house from my squash game...will wait for PRICEs to give me a clearer picture before taking any trade.10:10pm A possible LONG here. Let's see if a PF appears.10:16pm Didn't like the PRICE movements. Was tempted to go in but I decided not to pull the trigger.10:19pm Now, that was a good decision...Phew!10:20pm I still want to get a clearer picture before doing

The ES Powers to a New PRIME Resistance at 1534.00

I'm glad I decided to head to bed last night, instead of waiting for the third trade. It was gonna be a SHORT but looking at what happened next, I possibly would have been stopped out - because PRICE climbed higher (not much) to 1534.00.Going into the close, PRICE has pulled back & is going back down to challenge last PRIME Support (TREND Chart) at 1513.75 and there is no signs that this down

No signs of this upmove failing....as yet.

09:40pm TREND Chart has turned down & Trading Chart is possibly offering a SHORT set up with a Minor PPF of Resistance.09:45pm Still sitting on my hands...No trigger yet.09:54pm Didn't take that SHORT. Wasn't too comfortable with it.10:01pm Took a LONG instead at 1528.00 / STOP 1527.00 - PRICE has to take out 1528.7510:03pm Moving STOP to 1527.5010:06pm Breaking out?10:07pm Moving STOP to B.E.10:

Another New PRIME Resistance at 1528.25

PRICE continued to power up in last night's session. My SHORTs, though valid trades, were decimated largely by fake-outs. For my first two trades, I was able to move my STOPs to just 0.25 pts away from Break Even, but for the later two SHORTs, they were stopped at my customary levels of 0.75 - 1.00pt away from my entry.With PRICE Breaking Upwards from the rising wedge (many traders were pointing

4 X Divergent Bottom Results in a Slingshot Effect of +6.00pts on Globex

09:26pm New PRIME Resistance High created.09:29pm Looking for LONGs.09:33pm LONG 1522.00 / STOP 1521.0009:34pm Moving STOP to 1521.7509:35pm Stopped at 1521.75 / -0.25pts. I quickly moved my STOP as PRICE Matched at 1522.75. Didn't want to risk a waterfall drop, near the top.09:37pm PRICE is almost reaching PRIME, on the TREND Chart. So if I get a Minor PPF of Resistance on the Trading Chart, I

New PRIME Resistance at 1521.50

The ES created a new PRIME Resistance at 1521.50 last night. One interesting thing to note was that the Oscillation Challenges, or pull backs (TREND Chart) last night were all pretty "deep". Until & unless a we see a decent pull way in PRICE from the nearest PRIME Support of 1496.00, I maintain that the risk of a Leg 1 of Bull Break will be there. Do bear this in mind.Going into the close, PRICE

Minor PPF of Resistance at 1518.50

09:45pm Just stepped into the house...09:54pm Minor PPF (1518.00) of Resistance (1518.50) on the Trading Chart. PRICE is heading down to challenge last PRIME Support (1506.00), on the TREND Chart.10:05pm Minor PPF of Support. Possible interim end to the current down move. PRICE is not ready to head down to PRIME to challenge last PRIME Support of 1506.00 on the TREND Chart. Let's see if we get a

PRICE Has Broken out of Consolidation on the TREND Chart

PRICE finally broke out of Consolidation last night (Remember I spoke about the "deep" pullback in PRICE in yesterday's post? PRICE consolidated thereafter). There were 3 consecutive PRIME PPFs in a row, on the TREND Chart. Going into the close, PRICE has yet to fail going up, and with the SWING Chart firmly pointing up, it does look like a new Resistance level is going to be created soon. We

Slightly Positive Open for the ES

09:36pm PRICE has yet to fail in this upmove. We are now consolidating. TREND Chart is still pointing up. LONGs are still valid.09:38pm Need a pull back to go LONG.09:40pm 2 X Divergent Top on the Trading Chart.09:55pm SHORT 1512.00 / STOP 1513.00. Minor PPF of Resistance - TREND Chart in PRIME.09:57pm Moving STOP to 1512.2510:02pm That "fake-out" spike nearly forced me to close the trade...10:

Risks of a Back Door Bull Break Still Remains on the SWING Chart

Again, I may sound like a broken record but the risks still remain for a possible Back Door Bull Break on the SWING Chart. It didn't help that last night's New PRIME Resistance created (at 1519.50) was followed by a very deep pullback in PRICE, resulting in the ES closing almost unchanged (Last PRIME Support on the SWING chart is only at 1496.00).Looking back at the 3 trades that I took last

Steady Core CPI Numbers Fuelling Rally

10:28pm Just got back from my usual Tues inter-club squash match...2 more Matches/Tues to go before the end of the season. Will stay out first, unless a set up presents itself.10:36pm We have a PRIME PPF of Support on the Trading Chart, which calls for a LONG. But, with the TREND Chart having just turned down, LONGs have to be cautious. I would rather look for a PPF (Minor or PRIME) of Resistance

Risk of a Back Door Bull Break on the SWING Chart

On a SWING Basis, the S&P eMini (ES) is in danger of a Back Door Bull Break. With 2 PRIME PPFs in a row (Last PRIME Support at 1496.00 & Last PRIME Resistance at 1516.25), there is a high risk of PRICE breaching 1496.00 - which is only about 10 points away from yesterday's market close. I would not give that scenario a 100% sure thing but being on the look out for it would definitely keep me on

Slow Start to the Week

09:33pm TREND Chart has turned down. Will we get a Minor PPF on the Trading Chart to go SHORT?09:39pm No Minor PPF. PRICE has still not failed going up. Looking for Oscillation Challenge of Support to go LONG. Target is last PRIME Resistance at 1519.0009:41pm TREND Chart has just turned up....09:46pm LONG 1514.75 / STOP 1513.7509:50pm Stopped at 1513.75 / -1.00pt. Early entry. Will try again.

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Will this Leg 2 of Bull Break Bring the ES back into the Bull TREND again?

Leg 1 of Bull Break ended at 1496.00, with a MATCH Oscillation at 1496.00 during the Globex Session. And with the PRIME PPF at 1500.50 at 10:08pm (S'pore Time), it was a "cautious" Confirmed LONG as the TREND Chart was pointing down at that time.My 1st attempted SHORT (at 01:38am, S'pore Time) was because a PRIME PPF presented itself (Trading Chart), coupled with the TREND Chart pointing down. I

We are now in Leg 2 of Bull Break

12:23am Just hit home 15mins ago...was up north for a day trip. Will wash up first, before looking at the market.01:38am SHORT 1507.75 / STOP 1508.7501:42am Was very closed to being stopped out. Not out of the woods yet. Would be good if 1507.50 is taken out.01:44am My wish came though...hehehe.01:45am Moving STOP to 1508.5001:49am Out at 1507.25 / + 0.50pts. Didn't like the way 1507.25 was being

Leg 1 of Bull Break....Again

Last night we saw the creation of Leg 1 of Bull Break...again. Going into the close of the session, PRICE is still trying to establish Support. No signs of the downmove ending (failing) as yet. We made Lower PRIME Lows & Lower PRIME Highs, on the Trading Chart. TREND Chart shows a 2 x Divergent Bottom whilst on the SWING Chart, PRICE is now in PRIME Support. As I am more of a Intraday trader, the

Negative Open for the ES

09:59pm Just got back from dinner...10:01pm PRICE did not give us a PRIME PPF of Resistance, so on an Oscillation basis, lower highs & lower lows showed it's down move...until now, that is - Minor PPF at 1509.75 of Support 1509.00 formed at 09:56pm & PRICE is now in PRIME, on the TREND Chart.10:20pm Trading Chart - PRICE is now is PRIME Resistance. But with TREND Chart pointing up, SHORTs would

TREND Chart back on the Bull TREND

TRADING Chart - PRIME Match at 1519.00, coupled with a Breach of last PRIME Support (1515.25), going into the close of the session. Not sure if we will get a PRIME PPF of Resistance (1519.00) to go SHORT tonight...Possible interim top, for PRICE to head back down to challenge last PRIME Support on the:TREND Chart - Leg 1 of Bull Break (Back Door, actually) was invalidated last night as PRICE

A Flat Opening

09:34pm We have breached last PRIME Support at 1511.00 on the Trading Chart. It sure looks like Leg 3 of Bull Break is now in progress - PRICE is trying to give us a PRIME PPF of Resistance (1513.75 - Trading Chart). Do remember however, that on a Swing Basis, we are still very much in a Bull Trend.09:40pm Something interesting is happening; The TREND Chart is trying to turn up!09:46pm LONG

Leg 2 of Bull Break Currently in Progress

Looking at my trades last night, it was clear that my SHORTs were going nowhere - This was because the TREND Chart was pointing up. Oscillation challenges on the Trading Chart was rather "iffy" and that created the "chop" that I was caught in. Going into the close, Leg 2 of Bull Break may be ending soon - There is already a breach of last PRIME Support of 1511.00 on the Trading Chart - And TREND

Lower Open on the ES

09:41pm On the TREND Chart, we have a PRIME PPF of Resistance - not very good news. A Leg 1 of Bull Break could be in the making. Last PRIME Support on the TREND Chart is at 1507.0009:43pm Two Oscillation Matches, back to back - INDECISION09:49pm We are just 0.75pts away from a Leg 1 of Bull Break.10:06pm Leg 1 of Bull Break - TREND Chart.10:15pm Stepping away for a while to take my dinner...11:

YAWN....

What a boring session ! The whole night, the ES hovered within a 3-point range. And even down to a 2 point range, near the end. Looking back, I must say that I was really fortunate to get 1 point out of my trade. It was down hill thereafter. Consolidation days like last night really takes the fun out of trading...Did I really say that? LOL

Clearing Last Week's High of 1517.00?

09:44pm We are 0.25pts away from last week's high.09:47pm LONGs are still valid but I am a little cautious here. Will wait for a "stronger" set up before taking up any position.10:06pm Still sitting on my hands...10:18pm LONG 1514.00 / STOP 1513.0010:21pm Moving STOP To 1513.5010:26pm Out at 1515.00 / +1.00pt.10:35pm Minor Confirmation of a Top - NOT a PRIME Confirmation.10:47pm Pretty tricky so

Higher PRIME Low on the TREND Chart

Last night's session low of 1507.00 was in PRIME on the TREND Chart, making it a higher low. Going into the close, PRICE is heading back up to challenge last PRIME Resistance at 1517.00. LONGs would be appropriate but with some caution - because Swing Chart has turned down in PRIME. So unless PRICE takes out 1517.00 with such aplomb, we have to be aware that it may just fail at the attempt to

PRICE Heads Higher

10:00pm Globex PRICE movement went higher as it cleared the 1508.50 level I talked about this morning. But now, with the TREND Chart pointing down, I would be cautious with LONGs. Will be keeping a look out for a SHORT set up.10:05pm TREND Chart is trying to turn up...Will see if PRICE concurs. It is does, then LONGs will be the trade to look for.10:35pm Sometimes it is good to just stay out if

ES Pushes Higher

The ES continue to push higher in last night's trading session. It reached a high of 1509.25, at around 3.00am, Singapore Time.Going into the close, the TREND Chart is showing a 4 X Divergent Top & with the Trading Chart presenting a PRIME PPF of Resistance, we are likely to see a pull back in PRICEs tonight (PRICE needs to take out last PRIME Support at 1506.50).However, if 1508.50 is taken out,

Well, what do you know...we are heading higher - Leg 1 of Bull Break Invalidated !

08:36pm Globex PRICE movements has proven my gut feelings right (look at this morning's post)...PRICE just breached 1505.00 by 0.50pts.09:04pm Waiting for pullbacks for LONG trades.09:36pm Minor PPF of Resistance - Will look for SHORTs first09:38pm Problem with a SHORT now is that it's counter-trend. A bit tricky, especially with the TREND Chart still pointing up. Will wait first. Anyway, more

Inches Away From Invalidating Leg 1 of Bull Break

To be precised, we were 0.25pts away from the last PRIME Resistance (TREND Chart) of 1505.00 - Going into the close, we are seeing a pullback in PRICE but should we start to fail here, it would be one of the closest PPFs I have seen. Somehow, my gut feeling says that today's Globex PRICE movements will probably blow away 1505.00 with some ease...Let's see if I get it right.

PRICE on Swing Chart in PRIME, and has turned up

04:39pm Globex PRICE movement looks pretty strong...and with PRICE turning up on the Swing Chart, there is the possibility of Leg 1 of Bull Break being invalidated - it has happened before.09:37pm SELL STOP at 1494.2509:46pm PRICE went higher. Removing SELL STOP.09:57pm BUY STOP at 1497.2509:58pm BUY STOP triggered. STOP at 1496.0010:05pm Out at 1499.00 / +1.75pts.10:37pm Leg 1 of Bull Break in

Leg 2 of Bull Break in Progress

Leg 1 of Bull Break ended with a PRIME confirmation of a bottom at 1:16am, Spore Time at 1483.25 & that signalled the start of Leg 2 of Bull Break. We are now heading back up to challenge last PRIME Resistance of 1505.00, on the TREND Chart.One interesting thing to note here is that for the SWING Chart, PRICE is now in PRIME & has turned up. If we get a PRIME PPF of Support on the TREND Chart,

PRIME PPF of Resistance - TRADING CHART

09:21pm A PRIME PPF of Resistance has occurred on the Trading Chart, at 1492.00 (07:21pm S'pore Time). If you had taken that SHORT, PRICE has to break through 1487.50. If not, then be prepared to go LONG, when a PF presents itself (Because TREND Chart is pointing straight up!).09:31pm TRADING Chart: Minor PPF of Support.09:33pm Will just be sidelined first...The inter-club squash game I had

My Fears Came True

Last night, I mentioned that the last PRIME Resistance (TREND Chart) was too closed for comfort, and that the risk of a Leg 1 of a Bull Break was there. Well, the market played out my fears. Leg 1 of Bull Break has been created, on the TREND Chart (But on the Swing Chart, PRICE is merely heading down to challenge last PRIME Support at 1418.25). My last 2 trades - LONGs, were counter-trend trades.

Don't Fight the TREND

As PRICE continues to churn its way higher, I have seen many traders trying to short the top. I am also guilty of that sometimes. But for me, when I take a counter-trend trade, I make sure that my stops are tight - and I mean tight. It is best to put in your stops. I would never recommend anyone leaving their positions wide open. Because with every higher step PRICE takes, it hurts your pocket/

Back To Challenge Last PRIME Resistance of 1504.75

ES Opens Lower

09:37pm As warned this morning, 1499.50 was the key level to look out for and it gave way.09:38pm For now, SHORTs are still valid - but with some caution, as the TREND Chart has turned up & a Minor PPF of Support has taken placed on the Trading Chart.09:47pm SHORT 1497.00 / STOP 1498.0009:48pm Moving STOP to 1497.5009:56pm Out at 1497.25 / -0.25pts.09:57pm Decided to get out first, instead of

PRICE Still Heading Higher

Other than a slight consolidation phase in the early part of last night's trading session, PRICE has made higher oscillation highs & higher oscillation lows, on the TREND Chart. Going into the close, PRICE has yet to fail. Key level to watch, to keep the upward momentum going is 1499.50.

Flat Opening

09:40pm Have to head out for a short while to buy some durians. Be back later...10:04pm I'm back...With the PRIME PPF at 1503.25 at 09:41pm (S'pore Time), it looks like an interim top is currently in place. PRICE is heading down to challenge last PRIME Support at 1480.25 on the TREND Chart. Will be looking to SHORT pullbacks.10:10pm Placing a SELL STOP at 1498.7510:11pm SELL STOP Triggered. SHORT

ES Clears the 1500 Level

As mentioned last night, PRICE made the upmove to challenge the 1500 level...and breached it. As PRICE showed itself to be in an interim top (Minor PPF of Resistance - and with TREND Chart already turning down), just after the opening gap, the strategy was to go SHORT on pullbacks (Oscillation Challenges). However, I had to switch to LONGs when the Trading Chart presented a Minor PPF of Support

PRICE Yet To Fail

09:34pm PRICE continues to power up...09:40pm Potential Minor PPF of Resistance setting up.09:49pm Missed that Minor PPF SHORT.09:52pm SHORT 1491.75 / STOP 1492.7509:56pm Stopped at 1492.75 / -1.00pt.10:00pm SHORT 1492.25 / STOP 1493.2510:01pm That drop was quick. And so was the pull back. I am holding on to the trade a bit longer. TREND Chart has turned down.10:03pm I am pi**ed. Stopped at

Consolidation on the TREND Chart

PRICE movements during yesterday's Globex session threw me off...The wild swings caused some confusion and only a Minor PPF at 9pm (S'pore Time) at 1491.25, threw some light as to where PRICE was truly heading, and that was down - and that not immediately, as there was some minor consolidation that ensued, and finally, PRICE subsequently stair-stepped down.PRICE managed to find a Minor Support

Globex Update on the ES

10:57am Oops...PRICE just took out the 1487.50 level. Looks like we are not done going down.01:26pm Globex sessions sometimes have pretty wild swings in PRICE, so a breached level can be invalidated with a breach of the opposite end.10:54pm Just got in not too long ago (Squash League night)...looks like the Globex action threw everyone off. Will probably be an observer tonight.

PRICE is in PRIME Support, on the TREND Chart

To me, last night was a rather tough trading session as PRICE movement was rather "stair-stepped" in nature. Overall, it was pretty slow before lunch (to my liking) but it did "trend" a little bit when it did a 5 point drop from 2:20am to 3:04am (S'pore Time). Other than this bit of excitement, it was clear to see that the market was trying to "preserve" its energy for the next move. With a PRIME

All Set for a Pullback,Perhaps?

09:30pm Minor PPF of Resistance, on the Trading Chart, with TREND Chart pointing down.09:31pm A Minor PPF of Support now - Consolidation.09:43pm We had a PRIME PPF of Support just now, and now we are gettting a PRIME PPF of Resistance - TREND Chart still pointing down. A possible top here. Any SHORT here must result in a Breach of 1489.75 (today's low so far).09:47pm SHORT 1492.50 / STOP

There's No Stopping This Crazy Bull !

The markets continue to defy gravity as it ended the week on a high. The ES ended at 1493.25 - A level not seen for a long time. Other than a slight blip (Leg 1 of Bull Break) in PRICE during Thursday's Globex Session, PRICE quickly recovered and invalidated the Leg 1 of Bull Break it had created, in yesterday's super-bullish move. The bull TREND is definitely intact ! Have a good weekend.

Leg 1 of Bull Break Invalidated

Globex Session09:14pm Leg 1 of Bull Break has been invalidated. Leg 2 continued to push higher, past the no-no level of 1484.50, thus pushing us back into the Bull TREND.09:48pm Possible Minor PPF Setting up - SHORT Trade.09:51pm SHORT 1490.75 /STOP 1491.7510:01pm Moving STOP to B.E. - We should see a little bit more downside to this SHORT trade. 10:05pm Stopped at B.E. - Looks like they were

Leg 2 of Bull Break

Yesterday's trading session created 2 Legs of a Bull Break. Leg 1 was formed during the drop in PRICE during the Globex session (triggered by fears China's overheating economy - haven't we heard this before), which ended with a PRIME PPF of Support (PRIME Support - 1468.25 on the Trading Chart) at 10:34pm (Singapore Time) at 1471.50.From then on, PRICE continued it's journey back up (Leg 2 of

Leg 1 of Bull Break on TREND Chart

Globex Session09:08pm As pointed out this morning, Leg 1 of Bull Break has been created...09:30pm Will be back later...have to head to the airport to pick up my sis & her family.11:31pm I'm back. Leg 2 of Bull Break is in progress. Last PRIME Resistance of 1484.50 on TREND Chart has to contain this retracement we are seeing, in order to form Leg 2 of Bull Break. No Trades Done.

ES Makes A Higher High

My parting post last night, before heading to bed was that the ES had made a confirmed bottom at 1473.00 by the PRIME PPF at 1473.50 at 11:11pm (Singapore Time) & that PRICE was heading back up to challenge last PRIME Resistance at 1482.75 - It did just that and a PRIME Higher High was printed at 1484.50. On a TREND Chart Basis (although we still in a bull TREND), the last PRIME Resistance

ES Opens Slightly Negative

09:41pm As mentioned in this morning's post, I would expect PRICE to head lower (and to SHORT pullbacks), up & until a PPF of Support stems the down move.09:44pm Placing a STOP Sell at 1475.0009:47pm Did you see the "fake-out" that hit 1476.50 ?09:48pm STOP hit - SHORT 1475.00 / STOP 1476.2509:49pm If PRICE does not try to even "threaten" 1473.00, I will get out...09:51pm Out at B.E.09:54pm That

PRICE Challenge Last PRIME Support To Create A Higher Low

Last night's continued bullishness was somewhat deflated at the end of the trading day. Trading started brightly with the ES erasing earlier losses sustained in the Globex session but at the end, the ES closed mainly unchanged. Going into the close, we see that PRICE has started to turn down. PRICE is heading down to challenge last PRIME support at 1442.25 (again, for the un-informed, PRICE need

Traders Continue to Support the Bullishness

10:30pm Just stepped into the house 25 minutes ago - For the un-informed, I am involved in the National Squash League and our matches are played on Tuesday nights. Games normally end around 9-9:30pm, so by the time I hit home, the trading session has already started. I would usually take a "lighter" trading stance on Tuesdays...The good news is that the League will end soon, sometime in late May,

ES Closes Up 1%

What a welcomed first trading session for the week! The ES continued its uptrend from last Friday. On the Trading Chart, there was a slight blip with a PRIME Lower Low (with TREND Chart pointing down) at about 11:24pm (S'pore Time) but it quickly corrected itself with a PRIME Higher High again. My SHORTs (except for the first trade, which was aggressive & speculative) were valid as the Minor PPFs

Positive Open for the ES

09:23pm Looks like it's going to be a good start to the week...I was so busy over the weekend that I did not even manage to post my review of Friday night's trades. In any case, just a note here: PRICE has yet to fail going up...09:35pm Let's see if PRICE heads back down to close the "gap "at the open...09:48pm Aggressive SHORT at 1471.25 / STOP 1472.2509:50pm Stopped at 1472.25 / -1.00pt09:51pm

PRICE Is Still Heading Up

09:32pm PRICE is still heading up, as it cleared last PRIME Resistance of 1459.00. But with last night's low of 1442.25 being closed to 18 pts away from today's Globex high of 1459.75, I would treat LONGs with caution. TREND has not changed, but one can never be too careful to watch PRICE movements with an eagle eye.09:40pm SHORT 1456.50 / STOP 1457.50 - Minor PPF, with TREND Chart turning down.

Challenging Last PRIME Resistance at 1459.00

The ES reversed its TREND last night, just after finding its low at 1442.25. I had briefly mentioned the possibility of a "Reverse in TREND" and it sure did. My LONG trade was taken out by some PRICE gyrations but thereafter, I believe it was a good trading session for all who stayed up.Last night, just before signing off, I mentioned that PRICE was heading back up to challenge last PRIME

Matched Oscillation Support Created During Globex

09:32pm PRICE gave us a Matched Oscillation Support (1444.50) during the Globex session. This means some weakness in the downmove. Will keep a look out for a Minor PPF, to give us a possible LONG.09:38pm Putting a STOP Buy at 1446.2509:44pm STOP Buy cancelled. The Matched Oscillation Support invalidated by the lower low.09:46pm With the Lower Low, SHORTs are still valid - But do watch out for

Creating a Higher Low on the TREND Chart

Finally, we had a good trading session last night, with a good TREND and enough volatility to boot. I had just mentioned on Tuesday, the need for PRICE (TREND Chart Basis) to head back down in PRIME, to challenge last PRIME Support at 1418.25 to create a Higher Low (it does not mean that PRICE must head all the way back down there. As long as PRICE is in PRIME, and it starts to fail heading down,

PRICE is Still "Chopping" Around

10:19pm We could possibly see some good PRICE movements today.10:31pm Looking for a SHORT here.10:40pm SHORT 1453.50 / STOP 1454.2510:44pm This SHORT has to take out the low of 1452.2510:45pm That's more like it...10:46pm Out at 1450.00 / +3.50pts10:47pm Am expecting a slight pullback, that's why I took profit first...10:48pm I like this kinda trades where the PRICE movement is swift...and in the

Another Day of Consolidation

Still no clear sign of PRICE direction as the market tries to settle into a pattern of trading. Quite a bit of uncertainty, as on the trading chart, we had a series of PRIME B-PPFs, followed by PRIME PPFs. And with the 5pt trading range last night, it would not have been easy to get many points. Looking at the set up of the potential trades, one would have gotten no more than 2-5 to 3pts a trade

Will Today Be A Better Trading Day?

09:53pm Back from playing squash, so as usual, will take a more laid back approach to the trading session...10:00pm We are still bouncing around...Need to have a clearer direction in PRICE, before taking up any positions.10:58pm SHORT 1456.75 / STOP 1457.7510:59pm First target for this SHORT is 1455.2511:16pm Target met. Out at 1455.25 / +1.50pts11:18pm Will be catching some shows on the telly &

Another Tight-Ranged Day

I guess the long Easter Weekend was a good time for many traders to unwind but it sure took its toll on last night's trading. It didn't look like many were back at their trading desks.With the tight 5 point range, all I could muster from my 2 profitable trades were between 1.5 to 1.75pts.Trading ChartGoing into the close, PRICE was still consolidating (Back to back PRIME Breaches, with no PRIME

A Positive Post Holiday Opening

09:34pm No matter the positive...A SHORT set-up could well be brewing.09:43pm Looks like I missed the Minor PPF to go SHORT. Will see if a PRIME PPF occurs, to give us another Shorting opportunity - Reason for this SHORT is that there is a 2 X Divergent Top, on the TREND Chart, and as well as the TREND Chart turning down in PRIME.09:54pm Here's the pullback I am looking for...Reaching PRIME soon

New Chart on Time Warner Inc.(TWX) Posted On My Trading Chart Patterns Blog

Good morning everyone! I've posted a new chart on Time Warner Inc.(TWX) over at my Trading Chart Patterns blog. Head over there to have a look & feel free to offer/share your comments/views. Thanks!

ES Ends The Week Higher on Pre-Holiday Bullishness

Last night's trading session was as slow & as boring as it could get. PRICE movements were at a crawl & volume dried up considerably. With the Good Friday long weekend looming, bullishness was expected (market tends to be bullish prior to a holiday - I heard about this "observation" made by someone before). PRICE has yet to fail (heading up) but do expect some retracements next week as we still

Another Boring Day?

09:33pm Will we see another boring trading day ahead? Personally, I don't think so. We'll probably see some directional trading today.09:42pm Back to Back PRIME PPFs on the Trading Chart - Consolidation.10:08pm Possible LONG here.10:10pm LONG 1448.75 / STOP 1447.7510:16pm I see a potential breakout in PRICE here...10:18pm STOP remains at the same place - just in case PRICE starts to fail instead

Worst Than Watching Paint Dry !

What a boring session ! At times, it was as though PRICE wasn't moving, and that everyone had packed up & gone home...Although the PRICE range was a decent 5 points, it just didn't reflect the slowness of the overall session. It was almost directionless. Hopefully tonight will be better.Bottom line? PRICE is consolidating and we need to see a failure, or a breach to give us a clearer direction.

ES Barely Unchanged At Open

10:17am PRICE is trying to find its direction...10:28pm PRICE direction still pretty much unclear. Best to stay out first.10:42pm PRICE oscillating in a 3 pt range since the open.10:59pm Taking a break from the PC screen...the PRICE action so far is terrible.11:14pm Potential LONG setting up...11:58pm My, My...the action tonight is really slow.01:38am Tonight's session is terrible. Worst than

Bullish Day Without Much Volatility

It was a bullish session last night & if you were not in a LONG trade in the early part of the trading session, it would have been a boring day, especially from 11:00pm (Singapore Time) onwards. By then the ES had already gained closed to 12 points, and the action thereafter, to the close of the session, was ranged bound between 1446.00 & 1450.00Trading ChartGoing into the close, PRICE has yet to

Bullish Opening

10:23pm Squash night again...just stepped in not too long ago.12:32am No trades tonight. As usual, the physical activity has worn me out. Good night.

Leg 2 of Bull Break in Progress

I managed to get myself some points last night through a Minor PPF of Resistance, thinking that the up move was done. Fortunately, I did not "over-stay my visit as the subsequent pull back in PRICE took me by surprise. I had expected a "counter-trend" aggressive trade (which I did not take) but it turned out to be more than what I expected. It pulled all the way back to my SHORT entry ! PRICE is

Just Another Flat Opening

09:48pm SHORT 1433.25 / STOP 1434.2509:49pm Moving STOP to 1434.0009:54pm Slight hint of consolidation here...will be careful with my trade & will adjust accordingly.09:57pm Moving STOP to 1433.5009:58pm PRICE is taking too long to breakdown...10:00pm This is better.10:02pm Out at 1429.50 / +3.75pts10:19pm Didn't take the subsequent SHORT...was too busy savouring my points gained. LOL. Anyway, I

Charts of Equifax (EFX) & Exxon Mobil Corp (XOM) Posted Over at Trading Chart Patterns Blog

I have just posted charts of Equifax (EFX) & Exxon Mobil Corp (XOM) over at my Trading Chart Patterns Blog. Click here to have a look...

Leg 1 of Bull Break...Again !

TREND Chart Again, the ES showed its indecision when it first invalidated the night before's Leg 1 of Bull Break with a PRIME Higher High (HH) at 1439.75 but only to give it all up as it created Leg 1 of Bull Break again when it Breached last PRIME Support (at 1423.25) with a PRIME Lower Low (LL) at 1418.25 ! The up move from that LL is now in the process of creating Leg 2 of Bull Break. Will we

Rather Flat Opening on the ES

09:40pm Have been feeling under the weather the whole day...so will be taking things slowly.10:15pm Leg 1 of Bull Break Invalidated. We are back on the Bull TREND (TREND Chart Basis).10:34pm Watch that PRICE does not head back down to Breach 1423.25 - if not, we will create Leg 1 of Bull Break, again.

Leg 1 of Bull Break...

No Trades Done.

2 Legs of Bull Break Invalidated

09:10pm PRICE in Globex session has invalidated the 2 Legs of the Bull Break. We are now back onto the Bull TREND (TREND Chart Basis) - Refer to this morning's post and the Key level of 1436.50.09:47pm Although we are back on the Bull TREND (TREND Chart Basis), we still need to keep a look out that PRICE does not head back down to Breach last PRIME Support at 1426.75.09:56pm Waiting for a LONG

Leg 2 of Bull Break

Last night, shortly after I signed off, I posted a note saying that the bottom for the Leg 1 Bull Break was in and Leg 2 was in progress & that we were heading back up to challenge last PRIME Resistance at 1449.00. Trading ChartThe up move could only reach 1436.50, after which PRICE started to fail, giving a PRIME PPF of Resistance(1436.50) at 1435.50 (1:44am, Singapore Time). Thus, Leg 2 of Bull

Weak Open on the ES

10:05pm Wild PRICE swings.10:10pm LONG 1434.25 / STOP 1433.2510:12pm Stopped out at 1433.25 / -1.00pt10:13pm Oscillation PPFs - Consolidation10:30pm We have just broken out of the consolidation.10:31pm Looks like "DOWN" we go...10:35pm Markets taking a hit due to Ben's comments.11:00pm Let's see if we can get a confirmed bottom here for the Leg 1 of Back Door Bull Break.12.03am Done for the night

Globex PRICE After The Close Has Created Leg 1 of Back Door Bull Break On TREND Chart

Going into the close of last night's session, PRICE was still consolidating & it seemed a bottom was in place...until PRICE "plunged" closed to 10 pts when trading resumed on Globex. ES PRICE hit a low of 1430.50 before recovering to its current level of 1437.00. That plunge effectively created Leg 1 of Back Door Bull Break on the TREND Chart.But on a Swing Basis, we are still in Bull territory.

Slightly Weak Opening On The ES

10:18pm As usual, I just stepped in, after my weekly inter-club squash match...Had an energy sapping match tonight, so am feeling a bit of the effects right now. Will just be sidelined, I guess.10:29pm We hit PRIME Support earlier...2 PRIME PPFs in a row on the TREND Chart - CONSOLIDATION time.10:49pm A possible LONG setting up - look for a Minor PPF of Support.10:54pm Just missed that. In no

Down...And Then Back Up

The market did not respond to the Housing Data well and had the wind knocked out of it. It was a 14pt drop (not at one go) from the point the news came out to the lows of the session. That blip pushed PRICE into PRIME Territory, on the TREND Chart & with a PRIME PPF of Support (1433.75) at 1434.25 at 11.04pm (Singapore Time), on the Trading Chart, and with the TREND Chart pointing up, it was a

Flat Opening

09:41pm PRICE going nowhere...09:59pm Still sidelined for a clearer setup.10:01pm Market doesn't like the data just out...getting hit.10:03pm A 6pt drop so far from the news - "New home sales fall to seven-year low in February".10:05pm Will this Bull "climb the Wall of Worry"?10:07pm The drop is escalating. Still no trade.10:08pm We are in PRIME on the Trend Chart.11:18pm LONG 1435.75 / STOP

2 Charts Posted Over at Trading Chart Patterns Blog

I've posted a recap of Public Service Enterprise Group Inc's (PEG) Chart Pattern, and as well as Chart Pattern of Research In Motion Ltd (RIMM). Head over to my Trading Chart Patterns Blog for a look.

Tough Trading Session

It was yet another tough trading session last night with the limited PRICE range of the ES & the "slowness" as a whole. We are still very much in Consolidation mode & hopefully next week's sessions will give us a better idea of the direction to come. I've learnt that nothing is ever certain in trading. You take what the market gives, but always, always protect your trade, with stops. Have a great

A Flat Opening on the ES

10:48pm PRICE movement is still very unclear. Staying out first.11:33pm LONG 1449.00 / STOP 1448.0011:35pm Moving STOP to 1448.2511:40pm Out at 1448.75 / -0.25pts. Very similar trade to yesterday's...11:46pm SHORT 1448.25 / STOP 1449.2511:52pm I really hate such "whipsaw" PRICE movements.11:56pm Out at 1448.50 / -0.25pts. The PRICE movement is driving me nuts!12:50am I'm done for the night. Such

Consolidating With A Next Move In Mind

The ES was basically in consolidation mode yesterday, as shown by the 2 Oscillation PPFs (TREND Chart) that occurred half-way & through to the close of last night's session. My 2 LONG Trades were unfortunately, caught in it. PRICE still needs to head back down to give us a Higher Low, on the TREND Chart. However, this may not happen, until much much later. PRICE may just consolidate & head higher

A Pull Back Is Expected

11:27pm After last night's big move, it is only normal if we see some pullback in PRICE today. We could possibly head down to challenge last PRIME Support on the Trend Chart.12:00am A LONG set-up just occurred.12:14am Missed the move. Will need a challenge of last Oscillation Support on the Trading Chart, before going for a LONG again.12:30am LONG 1448.75 / STOP 1447.7512:34am STOPPED at 1447.75

Recap of FEDEX (FDX) Chart Pattern

With the market's strong showing yesterday, FEDEX (FDX) didn't join in the party & still closed below the Trend Line. This time, the breakdown could be for real, especially with the high volume. Head over to my Trading Chart Patterns Blog for details of FDX's Chart.And for a TOTALLY FREE 3 Week Trial of Dan Zanger's Chart Pattern Newsletter Subscription, click here.

This Bull Is Still Not Dead & Gone

With the FED holding rates unchanged, the market rallied, and boy, did it ! The session low was at 1421.00, the point which I mentioned last night at 10:59pm, as a "Matched Support, showing weakness in the current down move". This level held its ground & turned out to be a spring board for the rest of the Trading Session. The ES hit an intraday high of 1449.75 (a difference of 28 pts from the low

Cautious Opening

09:52pm One can sense the cautiousness in the air...10:38pm A slow & cautious session so far. Every one's waiting for the "FED Speak".10:59pm Matched PRIME Support at 1421.00 on the Trading Chart - Signs of weakness in the current down move.12:18am PRICE movements have come to a standstill.12:26am Will not be waiting for the FOMC announcement. I am heading to bed. It's already half-past Midnight,

ES Continues To Head Higher

The ES continued its upward move as the last PRIME Resistance (Swing Basis) of 1426.25 draws nearer & nearer. Thus, expect PRICE to challenge 1426.25 very very soon. Session high is recorded at 1424.00, going into the close - No signs of PRICE failure as yet.

ES Consolidates After Yesterday's Strong Move

11:40pm PRICE is "inching" closer & closer to 1426.25...11:49pm As usual, On tues nights I am totally sidelined due to the national inter-club squash league I am involved in...Physically too tired to do much once I reach home.11:55pm PRICE is still going up...it is not failing as yet.12:28am PRICE action "heating" up...LOL12:49am Time for me to turn in...G'nite all.

Strong Close

The ES continued to power higher for the most of yesterday's session. With last PRIME High of 1426.25 as the target (Swing Basis), PRICE will continue to head up until it fails. In order to reverse the damage done in the last 2 weeks, we need PRICE to breach this Resistance level, in order for the Bull to continue (Swing Basis). The Bull Break was invalidated as it stopped short of Leg 3 being

Positive Opening

11:41pm Have been pretty lazy of late...not doing anything at all. Just watching the action by the sidelines. 11:44pm One thing though...PRICE is still heading up. Will we head back into Bull territory again, on a SWING basis?

2 New Charts Posted

Have just posted 2 new charts over at my Trading Chart Patterns Blog

Another Flat Close On The ES

On a Swing Basis, PRICE made a Lower PRIME Resistance High at 1409.75 (It made a Higher PRIME Support Low at 1375.25 on Wed's Reversal Day) - Being PRIME PPFs of Support & Resistance, we are in serious CONSOLIDATION. We need to have a Breach of either Support or Resistance, to break out of this consolidation. Will it be a Bullish or Bearish Break? Stay tuned...

Barely Positive Opening For The ES

11.11pm Just stepped in after a night out with the wife & kids. Have to run out again to settle something - BUY SUPPER ! Will be back shortly.01:49am Did nothing but laze around after supper & now it's time for bed...LOL. G'nite!

Consolidating on the Swing Chart

1) On the Swing Chart, we are consolidating between PRIMEs. 2) On the TREND Chart, PRICE is still trying to confirm the bottom set the night before (1375.25). Going into the close, we were making Lower Highs & Lower Lows on an Oscillation basis. We will continue to do so until PRICE hits PRIME, and then a PPF of Support, to swing PRICE back up.3) On a Swing Basis, the markets looked poise to drop

A Day of Consolidation, Perhaps?

10:18pm LONG 1402.75 / STOP 1401.75 - A bit tricky as PRICE might just fail here. Will just watch carefully.10:20pm Moving to a tighter STOP at 1402.2510:21pm STOPPED at 1402.25 / -0.50pts10:24pm Quite a few "fake-outs" going on. I hate this.10:29pm See what I mean? A perfectly good trade but got stopped out by "fake-outs"10:46pm Excuse my absence, as I catch up on the 2nd season of Prison Break.

Big Reversal

Wow! What a night! Big down day with a Reversal in PRICE half way through the session. The SWING Chart's last PRIME Support Low of 1368.75 (Leg 1 of Bull Break) is still intact! Leg 3 did not take place at all. If this current upmove continues strongly & takes out 1426.25 (Last PRIME Resistance High - Leg 2 of Bull Break), we would then invalidate the 2 Legs of Bull Break created so far on the

ES Slightly Positive At Open

10:45pm Quite a volatile session so far.01:34am Wow! What a pull back in PRICE! No trades again tonight...just enjoying the quiet of the night (or should I say "early morning") with my wife.

Big Sell Off

Last night's sell off has PRICE on the Swing Charts back in PRIME. Last PRIME Support being 1368.75, we are still above it, as of the close. Will we create Leg 3 of Bull Break on the Swing Charts? We will just have to see what happens in the next few trading sessions, or so.

ES Recovers From Globex Lows

10:54pm Will probably be sidelined on Tues trading sessions. Am having a inter-club squash league tournament on, so I am rather tired when I reach home. The league just started and will only end sometime in late May. Trade safe everyone!

Rather Flat Opening on the ES

11:59pm My charts are still pretty much in a mess but there is still some level of clarity in the PRICE movements. The last 1 1/2 hours have been pretty slow but we could breakout of this current CONSOLIDATION.12:09am LONG Trade setting up.12:51am Turning in for the night...just too slow to do anything constructive.

DJIA Daily Chart Shows A Break Down From A Chart Pattern Formation

Would one be Bearish, at this point in time, looking at the above Daily Chart of the DJIA ? Personally, I wouldn't be, as yet...but being cautious sure wouldn't hurt.

2 e-Books to Read

For this weekend, I've posted the links to 2 e-books that are worth reading...especially for new traders:1) Jesse Livermore- Reminiscences Of A Stock Operator &2) Phantom of the PitsBoth are in PDF format. Enjoy!

Chart Patterns of CVX & GE Update on Trading Chart Patterns Blog

I've updated the Chart Patterns of CVX & GE on my Trading Chart Patterns Blog. Click here to have a look.