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.