Market at Top

Market At Top! There we go! will we go for a Major correction, yes or non? if yes soon? or will market keep going and create new highs every day?I wish I can have a 100% answer to this question. I'm working on few stuff on long term. I will share with you in futures.  For now, let's see what is going on in Market. I will use S&P500 Index on Ninja Trader.

[caption id="attachment_6227" align="alignleft" width="150"] S&P 500 Monthly[/caption]

Market at Top

S&P500 Index Monthly Chart : On this chart, you can see we are at tops of 2000 and 2008. I have few double top here. is not easy to say witch exactly will work more than other one. But I put those 2. 1st ~1522 and 2nd , ~1564 .don't use this as "precise targets" . For now, notice we are to far of MA50 and MA200. We getting almost same pattern as 2000 and 2008 correction.  I don't really have much to say about monthly chart, but it's always good to look at big picture,  at first of the months. [caption id="attachment_6228" align="alignright" width="150"][...]

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US$ Direction

US$ Direction on DX 03-13 E-mini Futures Contract

My direction Long term, in "Long" if we keep the same commitment from buyers. Right now, we should take a break as a consolidation or go back to resistance #2 or #3. [caption id="attachment_6221" align="alignleft" width="150"] DX[/caption] US$ Direction Weekly: On Weekly chart, we din't close above the double top. Is why, Buyers will probably take a break and then push one more time and should easily pass this price next time. For this they need to go back at MA50 and MA200 , or at least as close is possible.  and then, enter in market with higher volume than past move UP. [caption id="attachment_6222" align="alignright" width="150"] dollars[/caption] US$ Direction Daily: On daily chart, we can see many support for buyers, and is why I say I was "long" before . Notice also, we are creating a new Bullish channel. We are leaving the small, to create a bigger one. Is not yet Donne/confirm, but look like it will. # [...]

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Gold Direction

Gold Direction using GC 04-13 E-mini Futures Contract. 1440 minutes Chart. Gold drop faster than usually, and was looking to break bearish channel on weekly chart. Gold price close at 1580.4. You may think is a safe trade to take "Long" so we respect or trend line, but let me tell you, it's not an easy trade to take. very tricky! . Sellers was so strong and so committed  that buyers wasn't able to create any dissent resistances during past two weeks. 

[caption id="attachment_6210" align="alignleft" width="150"] gold[/caption] Gold Direction Long:

Gold direction long , if you are looking to take this trade. make sure you see buyers twice more than sellers. If we go long, not much to say...we are looking to respect bearish trend line. My targets are : 1st: 1592.0 , 2nd: 1619:  and 3rd 1647. 1592, are my " safe target", I will explain why later. and 1647 is the price we should hit and close at this price before another reversal. I will be honest,I don't see this happen.

  [caption id="attachment_6211" align="alignright" width="150"][...]

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Trading Gold

Trading Gold On GC 04-13 E-mini Futures Contract.

[caption id="attachment_6205" align="alignright" width="150"] Gold Chart[/caption]

Trading Gold:

Quick Update on gold, to look how this week will end. As you can see, Sellers are truly committed to bring Gold price under 1580, And then, will test a very important resistance 1543.32. This what you have to watch on this week-end, before take gold Long or Short. -Will buyers be able to push sellers back ,to close above 1580? If yes, bearish Chanel will be respected and we should see buyers go back as close as they can to my green spot. -If sellers will close under 1570: We may just keep go to 1543.32. But if Sellers decide to take a break. Buyers should not go above ~1615 for a maximum ~1634 price. I will also, update gold Post, on this weekend, [...]

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Trading S&P 500 Index

Trading S&P 500 Index with ES 03-13 E-mini Futures Contract.

[caption id="attachment_6195" align="alignleft" width="150"] S&P 500 chart[/caption]

Look like S&P 500 are going for nice correction.

1530.25 was the Highest price buyers was able to go so far. After all those little move up of 5 points a days, low volume and low volatility in US Index Market; is nice to see this kind of drop. Over 30 points on ES E-mini. It is the correction everyone was waiting for? Is look like. At least is a great start. Right now, we are in a small consolidation. And probably will go "UP" for few points. To be more precise, 1510.25 are the price I'm looking to go back at first. Is also a resistance for Buyers. But we may pass this price and go till 1514.75 , If ever buyers pass this price too, they should not support 1514.75. Also, Notice, we break the small Bullish Channel.

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Day Trading System

Day Trading System for all market. Day trading is easy once you master your system.

On following Images/words you will see when I made my call, what I say, and what happen. This is results of MoneyMakerEdge System. [caption id="attachment_6184" align="alignleft" width="150"] Silver chart[/caption]   Silver Chart: Call only for Short for next 5 business Day. target Filled 3/3 About my 2nd targets I mention this :<<I have one tricky target, is one good support for buyers and depend how long it will take to go to this support, it will depend also on the price to sell my 2nd target. Looking for  a small consolidation there.>> Not far from true,right?     [caption id="attachment_6183" align="alignright" width="150"] sp500[/caption] [...]

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Day Trading Silver

Day Trading Silver, Using SI 03-13

[caption id="attachment_6170" align="alignright" width="150"] Silver Chart[/caption] Hi Traders. On my last Gold post, I make a "call" short and of course Silver will follow Gold. Is less clear on silver daily chart and weekly, but we still can see few signal why silver should go short. First notice, we are under 200MA and 50MA (they are at the same level). Last Fridays, we touch are lower blue trend line, buyers try to push Silver price back to the 200MA, but by the end of the day, Sellers bring back buyers price back down, and close at they level , Sellers price. For Monday watch if we close under blue trend line, if yes, we will go to my next targets. I have one tricky target, is one good support for buyers and depend how long it will take to go to this support, it will depend also on the price to sell my 2nd target. Looking for  a small consolidation there. If Sellers close successfully under my blue trend line, silver price should go back at 29.810 on daily, and on weekly (mid-term , about 26$. I will update my chart, once we get to my 3rd target.)

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