About this blog:

CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Tuesday, August 21, 2012

Oil update

I'm still looking for a completion of the "D" wave higher in oil. The lower horizontal line is the main target, but it may run higher. I'll use the lower line to initiate a short position.




Updated S/R Chart for good measure



Saturday, August 18, 2012

EUR/USD Coming to Solid Fib Support

UPDATE

All daily charts and indicators are still bullish. All my swing trend indicators are still bullish. Long and strong is still the way to be. One cautious indicator is showing up on the hourly charts, and that is the hourly ADX has risen over the 40 line. A rollover of this indicator should show some weakness (pullback) in the SP-500, but the sustainability of the pullback is unknown at this time.

SP-500 Hourly ADX


Peace.

Saturday, August 4, 2012

Tracking a couple of counts - looking for clarity.

I'm currently tracking a few daily counts. A couple are bearish, a couple bullish. During times like this I sit on my hands so as not to make a terrible trade since capital preservation is my number one goal. The Daily ADX gave a buy signal back around 1290 on the SP-500. Every signal has been met with an opposite signal in the past. So there's no point being overly bearish here. I must wait for a conclusion and establish a trading plan.

Daily ADX Bull/Sell Setup Chart


My Swing Trade Trend Indicator is still on bullish buy


Will post as soon as I take on a new swing trade.

Peace.