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More of the Same

More of the Same

Yesterday The S&P500 mini futures (ES) made a continuation move up yesterday (Monday) and rallied back to the familiar resistance level at 2115, before dropping back when the morning momentum died out. It still managed to close at 2109.25, eight points above the previous close, and above the opening gap. Volume was light, but the price action was bullish. Monday's rally takes the minis back to the resistance level that has been forming the top of a rising wedge for many weeks (see...

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Trading 101: Why I Never Buy or Sell That First Big Move

Trading 101: Why I Never Buy or Sell That First Big Move

In the game of trading, there is always a rush to be the first one in or out of a stock’s huge move. It’s great fun and a huge ego boost to be able to “call that shot,” whether it’s a bottom or top. There’s just one problem: These trading decisions are often impulsive and made without much thought. When a stock plunges, it may seem appropriate to stick your hand in and take a slice or big chunk, even if you don’t understand the technical damage that could be taking place. On the flip side,...

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Soft Landing for Icarus

Soft Landing for Icarus

The Nasdaq futures ended last week at the Weekly Pivot (4469). Weekly pivots represent a balance point. Then, we opened with some enthusiasm on Monday, gapping up about 13 points, and proceeded to advance into the Speedzone, as noted yesterday on the Volume Profile chart. This is a price range where we had a previous gap and it makes for fast movement when revisited, since markets have memory. Despite the quick morning rally, the Nasdaq futures fell back to earth and closed more or less at...

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Watch For The Developing Trend

Watch For The Developing Trend

Aside from last week’s up and down joy ride in the market, things seem to be the same generally – the market wants to behave. All the major indices are hanging around their record levels, the VIX is in the up 12 zone, the US dollar has steadied in the mid-90 area, the euro is rising slowly, gold is still flirting with $1200, and oil has stalled in its recent jump up.  All this tells me the market is relaxed and looking for a cue. Yup … It is time for a cup of coffee. Astronauts on the...

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Lindsay Right Shoulders

Lindsay Right Shoulders

Long-time readers will remember Lindsay’s admonition that following extended basic advances (929-968 days) a right shoulder is to be expected. Normally, a right shoulder is a significant high but lower than the high of the bull market. However, Lindsay allowed for the possibility of a right shoulder appearing at a higher level than the high of the basic advance.  This happened in 1966 and 1973, and is occurring again in the current bull market. Like sideways movements, no right shoulder...

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Are You Using the Right Trading Style and Instrument?

Are You Using the Right Trading Style and Instrument?

Market Conditions Affect Profits One of the benefits of the modern market structure with online trading is that anyone can trade just about any trading instrument using a variety of trading styles. This is also one of the biggest challenges that face retail traders. There are literally too many choices and not enough reliable information to help them select the instrument and optimal trading style that best suits their unique personality, goals, and parameters. Using the wrong instrument...

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Timing the Dollar Index

Timing the Dollar Index

As a broker, I get calls from clients everyday asking me what I think about this market or that market. Given the generic nature of the question, my first response is almost always, “What’s your timeframe?” It always amazes what a stumbling block this can be. The old saying is, “Plan your trade and trade your plan.” This week, we’ll look briefly at the importance of timeframes in trading the Dollar Index. As we all know, the Dollar has been in major rally mode for almost a year now and is...

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E-Mini: No Damage, But NoCheering

E-Mini: No Damage, But NoCheering

Last week The S&P500, the large-cap equity index, ended last week at  2108.29, down almost 10 points on the week, but up 16 points from the previous day's close. The index dropped almost 50 points from Monday's high to Thursday's low, then recovered 62% of the decline on Friday (May 1). This back-and-forth is making traders paranoid. The market makes a new all-time high on Monday (Apr. 27) at 2125.92, then drops like a rock to end the month, only to rally 20 points on the first day of...

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Balance Point

Balance Point

On Friday we enjoyed the expected bounce, which overshot my 4450 target by about 17 points. That’s a bullish development, because the 4450 level is a High Volume Node, which means we should expect selling there when testing it from below. The Nasdaq futures ended the week on a high note, at the Weekly Pivot (4469). This is a balance point for the market. I say that because there are numerous key levels above and below, indicated on the 60 minute chart of the day session. If the market...

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The Rise of the Ugly Duckling Set-up in a “Channelized” QE Market Environment

The Rise of the Ugly Duckling Set-up in a “Channelized” QE Market Environment

So far 2015 has been a difficult environment for investors as the indexes have “chopped and slopped” in a mostly sideways range since December of 2014. Each time the market has appeared ready to bust out to new highs and begin a potentially strong, new trend to the upside, it has backed down into its prior price range relatively quickly. Conversely, each time the market has looked like it is ready to split wide open on the downside it has suddenly found its feet and turned back to the...

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It Is All About The Storage

It Is All About The Storage

Whatever the reason for the market’s dramatic fall yesterday, it seems the market forgot about it today. Funny how that happens … Anyway, I spent some time this morning reading about energy, one of my favorite topics these days. Part of that reading was about Tesla. You gotta give it to Elan Musk. That guy is a go-getter, and, perhaps, the singular leader in the move toward renewable energy. US electric carmaker Tesla Motors has unveiled batteries that can power homes and businesses as it...

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Coffee – Broad View of Fundamentals Continues to Favor Call Sellers

Coffee – Broad View of Fundamentals Continues to Favor Call Sellers

  2014 was a banner year for coffee prices as the market rallied off of Brazilian crop concerns right up through the critical “flowering” season in October.  But as timely rains finally arrived  (just in time - as they usually do in Brazil) the market was forced to backtrack as projected crop damage ended up being much exaggerated. This steady trend lower in prices made coffee an ideal market for call sellers for the past 6 months. The question becomes, is it still ideal for call sellers?...

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Stocks

Swing and Day Trade Stocks with the Larry Williams Premium Indicators

Swing and Day Trade Stocks with the Larry Williams Premium Indicators

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Futures/Commodities

Identify the Strongest Trends in the Market with the Larry ...

Identify the Strongest Trends in the Market with the Larry ...

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Forex

Identify Day Trading Opportunities in Forex with VantagePoint's ...

Identify Day Trading Opportunities in Forex with VantagePoint's ...

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