Up....And Then Down.

My ES SWING Chart above...I don't know about you, but it seems to me that it is getting more & more predictable to trade FED days. Before the announcement of the rate cut is made, the market grinds itself higher and the moment the announcement hits, PRICE rallies, only to lose steam and to close the session on a low - "A Cleansing of the Market", killing all the Bears, and Bulls simultaneously,

Will The FED Lower Rates Further?

My ES SWING Chart above...PRICE on the charts are poise for either direction. If the FED does lower rates, then we would probably see a spike in PRICE, pushing through PRIME Resistance, and giving us Leg 3 of Bear Break. However, if the FED leave rates unchanged, then a plunge in PRICE, breaking through last PRIME Support, would invalidate the 2 Legs formed so far. What is your take?

SocGen and Rogue Trader, Jérôme Kerviel

Here is an interesting article on rogue trader, Jérôme Kerviel and his "rogue" trading activities at Société Générale.

Leg 1 of Back Door Bear Break on the ES SWING Chart

My ES SWING Chart above...With a PRIME Higher Low, followed thereafter by a PRIME Higher High in last night's trading, the signs for an end to the down move are beginning to show...

The Futility of the Rate Cut

09:38pm PRICE is threatening to take out yesterday's low, which was "religiously" supported at 1255.50 in pre-market activity, prior to the announcement of the rate cut.

SIMSCI Futures Update: First Signal To Go LONG Has Appeared - Leg 1 of Back Door Bear Break

My SIMSCI TREND Chart above...Referring to this morning's post, a signal to go LONG has appeared; Leg 1 of Back Door Bear Break.To reverse the Bear TREND, the other 2 Legs must also be established. This will then tell us that the down move we have had so far is done, and bring PRICE back up to challenge last PRIME Resistance of 439.00, on the SWING Chart.PRICE will continue in the direction it

SIMSCI SWING Chart: Bear TREND With Expectations of PRICE Making Lower Highs

My SIMSCI SWING Chart above...It's a given...The Bear TREND continues to exert itself on PRICE. Expectations is for PRICE to eventually head back up to challenge last PRIME Resistance (439.00), to fail and to give us a PRIME Lower High. However, on my TREND Chart, there are currently no signs/signals to tell me that the ongoing down move is over. So, beware....!

BREAKING NEWS: FED CUTS RATES BY 75 BASIS POINTS

09:30pm Are we gonna see a day cat bounce? After all, we need to have Leg 2 of Bull Break, so PRICE needs to head back up to challenge last PRIME Resistance, on the Position Chart.

Short Trading Session Exacerbates The Carnage

My ES Position Chart above...I've decided to post my ES Position Chart, to show the extent of the damage done so far. We are clearly still in Leg 1 of Back Door Bull Break as seen above and PRICE, when done going down, will have to head back up to challenge last PRIME Resistance (1526.75), and fail, to give us a Lower High - for Leg 2 to be establish.Three Legs (LL, LH, then LL) are needed to

ES Futures Are Down....A Lot !!

07:25pm Just stepped into the house and was wondering if there was something wrong with my charts ??...It's really free-fall, in pre-market trading !

SIMSCI Futures - PRICE Is Still Heading Down.

My SIMSCI TREND Chart above... My SIMSCI SWING Chart above...My Mentor's methodology puts the TREND Chart, ahead of the SWING Chart. Looking at the TREND Chart above, PRICE in today's session (chart shown is current, as of 3:20pm, Singapore Time) has broken down from the PRIME Consolidation. Expect more downside, until PRICE fails...

Still Going Down...It's Beginning to Sound Like a Broken Record

My ES TREND Chart above...Again...need I say more? Other than the brief PRIME Consolidation (Higher Low, followed by Lower High), it was down, down, down...

Down...Down...Down...

My ES TREND Chart above......what more can I say? PRICE is still heading down, until it fails.

ES TREND Chart: Leg 2 of Bear Break in Progress

10:09pm PRICE has made a PRIME Higher Low (1369.00 - during Globex) and the third Leg is now needed to give us a change in the Bear TREND. PRICE must breach last night's session high of 1397.25, for Leg 3 of Bear Break.11:19pm Leg 2 failed. PRICE has gone lower, thus invalidating Leg 1 of Bear Break.

GBP Futures TREND Chart Update

My GBP Futures TREND Chart above...Long signal not triggered last night...

HSI SWING Chart: Finally, A Break Down From Consolidation

My HSI SWING Chart above...With the break down in PRICE, do expect a "relief" rally of sorts, from the oversold position the market is in. Afterall, PRICE needs to head back up to challenge last PRIME Resistance at 28424, to establish a PRIME Lower High, and then back down to challenge PRIME Support. As always: " PRICE will continue to head in the direction it is going, until it fails "

A Bottom in Sight? Leg 1 of Bear Break, on the ES TREND Chart

My ES TREND Chart above...As usual, we need the completion of 3 Legs to reverse the BEAR Trend we have been in...

Possible Bottom on the GBP Futures SWING Chart

My GBP Futures SWING Chart above...With a PRIME Higher Low (at $1.9482) established in today's earlier trading session, PRICE now needs to breach $1.9694 to give us Leg 1 of Back Door BEAR Break, on the SWING Chart.

Markets Continue To Tank...

My YM (Dow E-mini Futures) SWING Chart above...The BEAR Trend continues to exert pressure on PRICE. With news of Citigroup's losses, it only reinforces the current bearishness the markets are going through. Remember...PRICE will continue in the direction it is going, until it fails.

Issues with IB data source

10:23pm I had a tough time trying to sort out the pre-market data that screwed-up my charts yesterday. There were some price bars reflected, that were clearly not even shown on IB's trading platform, that is, the day's (Globex) highs & lows- it was really strange. In any case, it simply distorted my charts and the online help that I asked for, was really of no help at all, in handling my

New Feed by FeedBurner Added

For those of you who actively subscribe to feeds or emails of blogs, or websites, I am pleased to announce that I have added those features to my blog, as of today. Being rather "blur" (local euphemism for "stupid", "dummy"...I think you get the picture) to such features, please feel free to let me know what other things I can add, to make your visit to my blog, a more pleasant and fruitful

ES TREND Chart: 2 Leg Bear Break Invalidated - PRICE Failing But Some Possible Respite Next Week?

My ES TREND Chart above...My earlier post yesterday had suggested more upside in PRICE for yesterday's trading session. But as the day wore on, PRICE movements during the Globex session, coupled with the start of the actual trading session, made me shift my view. That's the reason for the single post last night, warning of a possible failure in PRICE, in trying to breach the previous day's

Will We Get To See Yesterday's ES Trading Session High, Today?

10:51pm With the SWING Chart's indicator pointing down, it may be a tall order to expect PRICE to breach yesterday's trading session high of 1436.00

ES SWING Chart: PRICE Is Still Heading Up...No Failure As Yet

My ES SWING Chart above...Clearly, PRICE is yet to reach PRIME, so expect more upside to this move. To continue the Bear TREND, PRIME Resistance at 1511.00 must not be taken out.

GBP Futures: Still No Bottom in Sight...

My GBP TREND Chart above...As you can see from the chart above, there is still no sign of a bottom...we are totally in a Bear TREND, with Lower Lows, Lower Highs, then Lower Lows - other than the "occasional illogical" oscillation, like a Higher High or a Higher Low. We need a 3 Leg Bear Break, to stop the Bear TREND, and then an entry to go LONG, on a SWING basis.

ES SWING Chart: A Bottom in Sight?

My ES SWING Chart above...Even though we may see a bottom in sight for the current down move, the expectation is still for PRICE to make a Lower High, due to the current Bear TREND we are in...

The First "Crack" Has Surfaced...As Mentioned In My Last Post On Saturday, 5th January

My ES Position Chart above...Yesterday's trading session has resulted in a Leg 1 of Back Door Bull Break, on my ES Position Chart. It is just the first warning, the market is telling us. We still need 2 more Legs, to confirm the Top.

Leg 1 of Back Door Bear Break in Progress, on the TREND Chart

10:43pm Long 1431.75 / STOP 1430.7510:45pm Moving STOP to 1431.2510:46pm Moving STOP to Break-Even.10:48pm Out at 1434.50 / +2.75pts.10:50pm Whoa...got out just in time...the retracement in PRICE is pretty deep.10:52pm Are we done with Leg 1 of Back Door Bear Break? Let's see if a SHORT set-up presents itself...11:04pm Thot the data released would dampen the mood...apparently it didn't.11:06pm

Signs of a Market Top, are Beginning to Show...

My ES Position Chart above...With yesterday's trading session ending with a big plunge in the PRICE of the ES, we are now hanging precariously closed to the last PRIME Resistance of 1406.25. And with no signs of the direction of PRICE failing as yet, do expect Leg 1 of the Back Door Bull Break to happen sometime next week.

Hang Seng Index (HSI) Futures TREND Chart Updated on my TradingChartPatterns Blog

For those of you tracking the Hang Seng Index (HSI) Futures, head over to my TradingChartPatterns Blog for the latest chart update...

ES SWING Chart: In Danger of Heading Back into Bear TREND

My ES SWING Chart above...If PRICE takes out last PRIME Support at 1445.75, we will be back on the Bear TREND.

The E-Mini Dow (YM) is Back on the Bear TREND, on my SWING Chart

My E-mini Dow (YM) SWING Chart above...With renewed fears of a looming recession in the US, last night's trading session simply saw PRICE pushed past the last PRIME Support at 13181. This has invalidated the 2 Legs of the Bear Break created, and the E-mini Dow is now effectively back on the Bear TREND, on my SWING Chart.