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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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.