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