Thank you – I follow the $NYMO. We are at similar levels on the $NYMO as we were on at the beginning of Jan. before the fall but it looks like we could still bounce around before plunging through the 0 line. Coincides with Dread's charts – might take a week or so to pull out of this. Just hope we don't close higher on the SPX. If/when we get to an oversold reading on the $NYMO, I will have to cover.
June S&P E-mini Futures: Today's range estimate is 1155 – 1170. I think a move to 1200 is underway. First upside target is 1175.
1147.75 -1163.25 actual yesterday (15.50 points) 1164.75 (last night's high) 1155-1170 estimate for today (15 points) 1163.50 currently, so estimate is -8.50 to +6.50 from here (neutral)
TNA has a BUY-IF (buy tomorrow if conditions are right) signal today. The candlestick today was a Long White Candlestick (strong buying pressure). The last two candlesticks formed a Bullish Piercing Line Pattern – a highly reliable bullish reversal pattern.
AmericanBulls has TNA up 0.04% since the sell yesterday.
TZA has a SELL-IF (sell tomorrow if conditions are right) signal today. The candlestick today was a Long Black Candlestick (strong selling pressure). The last two candlesticks formed a Bearish Dark Cloud Cover Pattern – a highly reliable bearish reversal pattern.
AmericanBulls has TZA down 0.28% since the buy yesterday.
Summary of $RUT based ETFs: BUY-IF: IWM (1x), UWM (2x), TNA (3x) SELL-IF: RWM (-1x), TWM (-2x), TZA (-3x)
Action for tomorrow: Possible buy of TNA, possible sell of TZA
ah – that's right. Yes, if we go higher from here, I'm out. If we make a slow up and down descent down, I can handle it. As long as we don't make new highs.
Thank you – I follow the $NYMO. We are at similar levels on the $NYMO as we were on at the beginning of Jan. before the fall but it looks like we could still bounce around before plunging through the 0 line. Coincides with Dread's charts – might take a week or so to pull out of this. Just hope we don't close higher on the SPX. If/when we get to an oversold reading on the $NYMO, I will have to cover.
http://stockcharts.com/h-sc/ui?s=$nymo
$DJI monthly setup
max contain = 10,844.42
http://www.flickr.com/photos/47091634@N04/44565…
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1155 – 1170. I think a move to 1200 is underway. First upside target is 1175.
1147.75 -1163.25 actual yesterday (15.50 points)
1164.75 (last night's high)
1155-1170 estimate for today (15 points)
1163.50 currently, so estimate is -8.50 to +6.50 from here (neutral)
US Steel – X Monthly setup
teal line = 62.78
http://www.flickr.com/photos/47091634@N04/44564…
Chesapeake Energy – CHK Monthly Setup
rejected @ max contain ($27)
purple line = 17
http://www.flickr.com/photos/47091634@N04/44572…
Intel – INTC monthly setup
max contain on monthly = 22.30
http://www.flickr.com/photos/47091634@N04/44572…
Microsoft – MSFT monthly setup
short with monthly close below teal(26.68) & purple(27.98)
http://www.flickr.com/photos/47091634@N04/44572…
TZA has a lot going for it right now.
http://www.screencast.com/users/dreadwin/folder…
I went in to DRV because of the more attractive volume action.
The Daily view from Americanbulls
TNA has a BUY-IF (buy tomorrow if conditions are right) signal today. The candlestick today was a Long White Candlestick (strong buying pressure). The last two candlesticks formed a Bullish Piercing Line Pattern – a highly reliable bullish reversal pattern.
AmericanBulls has TNA up 0.04% since the sell yesterday.
TZA has a SELL-IF (sell tomorrow if conditions are right) signal today. The candlestick today was a Long Black Candlestick (strong selling pressure). The last two candlesticks formed a Bearish Dark Cloud Cover Pattern – a highly reliable bearish reversal pattern.
AmericanBulls has TZA down 0.28% since the buy yesterday.
Summary of $RUT based ETFs:
BUY-IF: IWM (1x), UWM (2x), TNA (3x)
SELL-IF: RWM (-1x), TWM (-2x), TZA (-3x)
Action for tomorrow: Possible buy of TNA, possible sell of TZA
ah – that's right. Yes, if we go higher from here, I'm out. If we make a slow up and down descent down, I can handle it. As long as we don't make new highs.
I am all cash again. Nice price right now for TZA.
Are you in TZA now? Nice Post I really do appreciate this daily update.