Bond Market about to fall - US indexes stall Day traders

Bond Market about to fall - US indexes stall Day traders are looking for low risk entries on this continuation up.

This is the weekly chart on the 30 year bond futures.  Price has just moved down the past week to break the support at 139.17 where it has held up for over four months.  we have had slightly decreasing volume during this period until the floor was broken.  Sellers moved in this last week an evidently the Fed has not approved more Economic Recovery team dollars to hold them up at this price. The unfortunate side to this price action is that in the long run the fed might have to increase bond interest rates in order to lure the Chinese back to the table.  As the Fed gets the treasury to print more and more dollars it weakens the value of the dollar for foreign investors and could put the bond market in a free fall.  This interest rate hike will occur when bonds drop through the previous support around 127.16 and works it way to 116.16 where we could start to see strong support.  If this moves down to this level be prepared to see out housing market get its second round of beatings.  As interest rates soar to cover and bring money in for the bond sales to support our interest on the deficit, we will see housing loans slow, price drop and more down ward pressure on employment and increasing food prices.  With in a year we could see the formation of a pattern known as a head and shoulders with the right shoulder approaching 127.60 as resistance to consolidate and then another sell off in the bond market.  The bond mark [...]

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Day Trading Course - former resistance is new level of support

[caption id="attachment_5041" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. There is a bullish channel with former resistance acting now as support at the lower trendline. At this time price action is testing resistance at the upper trendline of the channel at 1399.50. If buyers see that resistance has given way, buyers will come in with pressure to move price up to test at the next target of 1403. If resistance proves strong sellers will come in to test support at 1397.75. Next target will be the bottom trendline of the bullish channel. If support breaks down first target is 1396. Next targets are 1394,1392,1389.75 and outer target level of support at 1387.50 Trade What You See

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Euro futures trading is Fading, Dollar is surging US market follow

Euro futures trading is Fading, Dollar is surging US market follow in Sync with the dollar as the US move past Europe.

The S&P500 emini futures has said good bye to the Euro futures trading in the short term. The 2 month love affair as the couple ran up has finally seen the break up that was on the books. For the first week in the last 9 the S&P 500 emini has decoupled itself from the Euro. Asked why, the S&P said that could no longer hang out with a spender on a leash and would return to the the market with no regulations on where or how much it could spend and would be hanging with the Dollar index. The dollar index on the other hand sees this as temporary and is running into a little resistance, asking the question, If the S&P has finally broken free and the US market finally realizes the "economy" and the public are not together, that the public will bear all the expenses if China won't. Then we could see another break up between the S&P and the dollar index. We shall see. If there is no commitment on the governments part to free Syria or take away oil from those evil dudes in Iran then the Dollar doesn't deserve its strength and we can see another move down. Does this mean there could be another chance for the S&P500 and the Euro to hook back up? We shall see what the euro futures trading does and if they really want to get back together again.  It is as if the euro futures trading has to go through a bit of rehab before it is let back in. The S&P500 has broken its resistance and now has a floor p [...]

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Day Trading Course - Bullish Channel

[caption id="attachment_5028" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. The buyers have been in control to push price to trend in a bullish channel. At this time price consolidating at the upper trendline of resistance. If the buyers come in the pressure will drive price up to test resistance at 1375.75.If there is a breakthrough of resistance price will push past and test the upper trendline of the bullish channel. If sellers come in, the pressure will be to the downside to test support levels with the 1st target at 1374. If there is a breakdown at this level the next target is 1371.75, then all the way down to 1368.75 and 1366.75. The next target will be the test of support at the lower trendline of the channel. Onto next targets at 1362.75, 1360.75 and the outer target of 1358.25. Trade What You See

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Day Trading Course - ascending pennant

Day trading course l 866-640-3737 l learn how to daytrade l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Ascending pennant formed. There was a pierce and breakthrough of support at the bottom of the pennant and price went down to test at 1363.25. It has been also forming a range between support at 1364.25 and resistance at the 1368 level.

If sellers come in to test and break resistance the !st target is the bottom of the ranging trendline. The next target is 1363.25, onto 1361 and then onto the outer support level at 1357.75.

If buyers come in the 1st target is 1365.50. The next target is 1367, then onto the upper range trendline. The next target is 1368.50. If there is enough buyers pressure the next target will be the new resistance at the bottom trendline of the pennant.

Trade What You See

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Head and shoulders on S&P500 emini futures

Head and shoulders formation on S&P500 emini futures into the weekend.  

A Head and Shoulders Formation is appearing with our initial target of 1368.50 on the S&P500 emini futures. This is the pattern discussed Tuesday as we are watching for sellers to move in at these levels. If buyers commit to the move from 1365.50 and approach the resistance with some volume there is a good chance they can take control back and move to the next area of resistance at previous swing highs around 1377.25 . Watch out for dissipation in volume in the afternoon as there is no direction and quick market maker commitments can wash out stops. Support coming in again at the 200 MA in  red around 1365.  Which was the point of control for today.  Buyers have control but as you can see, if there is price failure on the move up, there is a good chance we can keep this March settlement period alive and see moves down. The first area of support will be at 1351.25 and then the previous swing low at 1338.50 .  This should provide some support and we could see some consolidation before the next move down.  A further test to 1331 and then major support at the "psychological support"  1300. A fully executed support on the head and shoulders would be around 1330, 1300, and 1282. If the Head and shoulders disappears into a period of consolidation with a touch down to 1362 and a reversal, watch for the break of resistance and a move to previous highs.  The execution and extension of this move would be to 1432. Trade what you see and never [...]

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Greek Financial Tragedy - US employment and the March Balancing

Greek Tragedy - US employment and the March Balancing of accounts has begun.

As mentioned this past week, it is time to rebalance portfolios and to clean out the positions for a "buy the dip" opportunity into March.  For 10 of the past 11 March season's we will see a dip in the S&P500 emini futures the first fill week of the month with a test of support.  I put up a chart last week showing the projected move with two major supports. The point of control for buyers to take back control is 1352.25. There is a chance the buyers will test this area, but if it comes to this price and then closes below the 130 support, sellers could take this o the next move down to 1319 and then test the Psychological "1300" Where the market could see selling pressure really step in. Initial targets on this move is to the supporting trend line in this bullish channel at 1320. A small test with unsupported price would be a signal of possible continuation of the channel. Wednesday could be a very low volume day which could add into the volatility into the close. It is not unusual to see selling pressure into the close approaching big news days. The Greek Tragedy is putting more pressure on the euro and we could see this also taking effect on our markets as the dollar index starts to move up. [...]

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