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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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Short this Rally - SPX

Short this Rally - SPX

This market continues to run with an all-in or all-out mentality. We are seeing massive moves both up and down, which in the past, would take a few days to accomplish (point wise) happen in a few hours. The market makers aren’t giving the retail traders any time to think and is putting them on “react mode”. The problem with traders being in a “reaction mode” they make trading decisions based on emotions. Anybody who has been in this business for more than a couple of years knows, any trade...

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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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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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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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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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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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Further Fed Confusion

Further Fed Confusion

As hard as the Fed has tried to be transparent and data dependent, there are times when they can be downright confusing.  The statement that followed the April meeting had many wondering if/when the Fed would raise rates, and certainly the response following made everyone nauseous.  The following day was also odd as European/Asian markets were able to digest the statement and come to a conclusion. It appears the Fed is frustrated, but not backed into a corner yet.  Certainly the timeline...

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Gap Hunt

Gap Hunt

The “Floor” we briefly enjoyed at the Weekly Pivot (4476) gave way on Thursday, sending the Nasdaq futures down to the Volume Profile Point of Control (VPPOC), at 4409. (It was the thick blue line on yesterday’s chart.) This price level has the largest volume for the entire look-back period (in this case 25 days) and automatically acts as strong support. While a bounce off the VPPOC  is expected, perhaps to 4450, the proximity of an unfilled gap at 4350-4363 suggests that the market is on...

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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 ...

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