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Get timely market analysis, perspectives and trading ideas from TraderPlanet contributors to stay informed of global economic developments, financial market insights and other factors that may influence investment decisions and strategies.

ESM5: A Noisy, Manipulated Market, Still Going Nowhere

ESM5: A Noisy, Manipulated Market, Still Going Nowhere

Yesterday Last Friday (Apr. 17) the US market sold off – big time. Yesterday (Monday) it bounced back sharply. Both moves – up and down – were attributed to the same event, financial news from China. Nothing much changed from Friday to Monday. No sudden wars, no big economic news, no new Fedspeak. It is just machines pushing the prices around for fun and profit. The ES remains inside a broad...

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A Bull Stampede

A Bull Stampede

In yesterday’s market review, I forecast a rally into the 4370-4384 resistance zone.  That level was attained within the first 15 minutes of the day session on Monday. The next 5-minute bar, however, exploded 17 points to the High Volume Node at 4407 (the gold line on the chart).  The key lesson from Monday’s action is to recognize there’s nothing more bullish than a failed bearish pattern....

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SPX- Range Bound – For Now

SPX- Range Bound – For Now

The SPX has been trading within a triangle range for the last 2 months. With every big thrust higher, the bulls are convinced it is breaking out, only to see those gains wiped out in a matter of hours. Then, when we see the big drop, the bears are convinced it is breaking down, only to see those gains wiped out in a matter of days/hours. These fairly large moves are coming at warp speed and...

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So, You Want To Trade, Eh?

So, You Want To Trade, Eh?

So you want to trade, eh? You want someone to teach you how to trade, eh? Well, then, make sure the first question out of any potential teacher’s mouth is: “Do you have the stomach for it?” Last Friday was the kind of day professional traders may or may not see coming, but it is expected nevertheless. So, when it happens they see opportunity, the kind of opportunity that has characterized...

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Bean-Meal Bulls Gaining Control

Bean-Meal Bulls Gaining Control

July soybean meal fell through major support last week near $315 per ton. There are two points to be made on the market’s action at these levels. Although it may be a bit of a, “chicken and the egg” situation regarding what happened last week, we feel its outcome provides a major clue towards forward direction. Finally, since we only trade forward direction, we’ll focus on the predictive...

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SPX: Waiting For Something To Happen

SPX: Waiting For Something To Happen

Last Week Weekly Outlook - SP&P 500 Cash Index (SPX) The S&P 500 cash index ($SPX) closed at 2081.18 last Friday, down 20.88 points for net weekly loss of 1%. It was a strange week: a sell-off on Monday and Tuesday, a strong overnight rally going into Wednesday, and a 40-point dump on Friday (Apr. 17). “Unsettled” doesn't do it justice. The sell-off might be seen as the result of...

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A Fly Broke The Bottle

A Fly Broke The Bottle

As noted last week, the Nasdaq has been in a choppy and volatile consolidation for the last 6 weeks. These fast moves create SpeedZones that present little support or resistance to retracements. Bulls and bears get punished equally.     The lower support level at 4370 was taken out on Friday, sending the market all the way down to the Low Volume Node at 4337. Remember, areas of low volume...

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April Low in Equities

April Low in Equities

Although my Hybrid Lindsay forecasts always assume a small time window surrounds any single-date point forecast, the forecast for a high on April 15 (see last week’s commentary) was spot-on. The work of George Lindsay deals with time (not price) and tells us that the pullback following last week’s high should be over quickly. There exists a forecast from the basic cycle (5/2/11) for a low...

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The Market Running Away From What?

The Market Running Away From What?

What Is the Market Afraid Of? Last Wednesday, I mentioned Dr. Gary Dayton’s article on the “experts” who predict market movement (Predicting the Market: Are The Experts Really Expert?), and then on Thursday, I wrote … It appears we are back to the days of the market wanting to go up, struggling with the latest news, but no longer running away. True, nothing is certain in life, save death and...

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ESM5: Mini-futures Form A Doji Near The Top Of A Good Run. Be Careful.

ESM5: Mini-futures Form A Doji Near The Top Of A Good Run. Be Careful.

Yesterday The S&P 500 mini futures (ESM5) gapped down at the open and traded in the red for the entire morning session. Then a handful of Fed presidents began giving speeches, and the market marched up like a good little soldier in response. But it was all for nothing. The mini rally failed to break the prior day's high, and by the end of the afternoon, the gains all melted away. The...

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