About this blog:

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

Thursday, June 26, 2014

Bullish Complacency About to Turn Bearish

The equity put/call ratio is now below the level reached in January of this year. Once this turns up a correction is probably at hand.

The bullish percent index has put in indicator divergence on the new highs. The ADX is also at a level that when it rolls, should issue an equity sell signal.

We are close to the 20-40 pt. range that the SPX ADX signal issued a sell signal marking a top.

RSI negative div on SPX:VIX. RSI below 50 is generally not good for SP-500 (currently 52).

Friday, June 20, 2014

AUD/NZD Update

I was filled on my 1.0765 bid and am currently up 27 pips or so, or $220/contract. I am now upping my stop-loss on the trade to the actual low that was made at 1.07400 dropping the risk to 25 pips or $200/contract. I am maintaining the take profit level for now.

Wednesday, June 18, 2014

Nikkei - Clean Chart

The Nikkei has one of the cleanest looks. I am counting the current move up as the C wave of a 3-3-5 correction which should top out around the 15,400 mark with a chance to extend to 15,675. I am looking to enter some puts for January 2015 on the EWJ, strike 11, at these two levels on the Nikkei. The 50% time from the low on the chart to the high comes in the end of November, and the correction should take at least 50% I would think.

AUD/NZD Update

No fill yet on this pair, but it is hovering around my limit order. It is currently 30 pips lower than when I broadcast the trade alert, so my patience has paid off to the tune of $250/contract. Setting up trade parameters ahead of trades and being patient allows me to gain better entries with lower risk and higher reward while avoiding large drawdowns. That's a good lesson to learn.

Tuesday, June 17, 2014

AUD/NZD - Playing a Wave 4 Bounce

I'm going to be playing what I believe to be a wave 4 coming up in AUD/NZD from the 1.0765 fib support zone.

Trade Parameters:

Buy to open with 1.07650 limit order.
Stop-loss @ 1.07350
Take Profit @ 1.08600

Risk 30 pips / Reward 95 pips

Why the 1.08600 take profit level? Based off the entry point, which I believe will complete wave 3, a bounce to 1.08600 would make wave 4 = .382(3) and wave 4 = 2. It also also the area of the prior iv wave.

Thursday, June 12, 2014

SP-500 & QQQ

Both are within their FRZ and I'm shorting with impunity!

Better Q's Chart:

Also short FB

Friday, June 6, 2014

Q's Bull Benefit Count Updated

Man, pullbacks are hard to come by! Here is the updated Q's count from this post


We're still within the 1892-1954 reversal zone in the SP-500

Tuesday, June 3, 2014

Gold and Short Term RUT Trade

I'm looking to get long gold for the E wave of the larger triangle. I will be playing something like GLD June and July 125 calls.

With RUT selling off again this morning I'm thinking about taking a small IWM long trade via options as well. Rut found support into the wave 4 support zone. The stop on this trade will be set at 116 W4 Wave Count Invalidation, where it will enter wave 1. I will play this with IWM June 113 Calls (should be around 1.00)