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Showing Commentaries 1 - 15 out of 53 found.

Crude Oil Stuck In Two Week Trading Range

Crude Oil Stuck In Two Week Trading Range

September Crude Oil grinded lower on Thursday, July 21, 2016 making a new low for the week at 44.52 but it was unable to get below the 44.42 low established on July 11th. Crude Oil is still in its 2 week trading range and it would take a close below 44.31 (the 21 WMA) to create a path to 41.64 (the 50 WMA), in my opinion. Support on the daily chart comes in at 44.26 (the 100 DMA) and then...

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Collect Premium: Play An E-Mini Strangle

Collect Premium: Play An E-Mini Strangle

The strong upside move in the equity markets has not slowed down this week. We continue to see new highs put in the market without much resistance. The S&P seems to still be embracing the low interest rate environment.  I’m not quite sure if there is anything out there right now that will keep a cap on the market over the next few weeks. I’ve stated previously that I think there will be...

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Markets at New Highs, Should We Be Concerned?

Markets at New Highs, Should We Be Concerned?

Only two weeks ago the entire world was bracing itself for another ’GFC’ style correction just after Brexit. At the time I encouraged those who were willing to go against the crowd to think contrarian and take advantage of correction style low prices and ‘Be greedy when others are fearful’ in a piece I wrote, ‘Brexit Is Now a Reality, Now What?’. The markets are now at a new high, so the...

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Why Can't Nasdaq Hit New Highs Too?

Why Can't Nasdaq Hit New Highs Too?

NDX Nears Resistance The S&P 500 and the Dow Jones Industrial Average are sailing in new all-time high territory.  Absent from the headlines is the Nasdaq, which has also been on a tear to the upside but is now approaching an important test. Click here to watch a video explaining how to read markets using volume at price. The bias in the $NDX is bullish as it pushes above nearby...

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Gaps and Volatility: Will it Be a 'V' or a 'W'?

Gaps and Volatility: Will it Be a 'V' or a 'W'?

Since the middle of June we have seen some remarkable market action.  What started out with a rather shallow dip morphed into a near-catastrophic drop following the Brexit decision toward the end of the month, leaving many to wonder if they should have followed the 'sell in May and go Away' advice from the prior month.  Volatility started to kick up mid-month as the Brexit vote came closer,...

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What A Difference a Week Makes

What A Difference a Week Makes

Last week I wrote that Eurodollar spreads were indicating only one hike a year, a glacial pace.  For example the spread between the September 2016 contract and September 2017 contract had settled on Tuesday June 21, at 23.5.  Yesterday, June 28, this spread closed at just 14 bps.  The surprise Brexit vote took Fed tightening out of the equation.  Where this is most apparent is in the Fed...

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Where's The Bottom? Time to Buy AAL Now

Where's The Bottom? Time to Buy AAL Now

Hey lovely traders, friends and students from around the world. What a massively exciting, challenging and volatile last few days. The vast majority of the companies are down and down hard and many are wondering ‘where’s the bottom’ and what are some good buys and not good byes.  One stock in particular, I’ve had my eyes on since early May. I really didn’t not think AAL would sell off this...

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Brexit Vote Unlikely to Rescue British Pound

Brexit Vote Unlikely to Rescue British Pound

Our chart of British Pound futures shows why we don't expect the Brexit vote to produce a drastic change in the value of the currency regardless of the decision. Although the Pound could break in either direction from its present area, the Elliott wave patterns for both scenarios suggest the next move will not be large. Even so, traders might find areas to watch for a turn near the levels we...

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Chart Of The Week: DB Agriculture Shows Some Promise

Chart Of The Week: DB Agriculture Shows Some Promise

The DB Agriculture fund tracks a proxy of actual soft and hard commodities and not the stocks which represent them.  In this fund we'll find weightings of cattle, corn, beans, meal, sugar, coffee, wheat and other grains that are a nice representation of goods.  Trading in the individual names can be tricky and require some experience and expertise.  However, an aggregate such as the DBA...

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Jump On This Big Break Out Move In Citrix Systems

Jump On This Big Break Out Move In Citrix Systems

What gets a trader excited?  There are lots of things, but one thing for sure is a game changer.  There is nothing worse for a trader than same old, same old.  So, when things change…it’s game on!  Let’s look at a break out set up in Citrix Systems (CTXS).  Take a look at the chart in Figure 1 below. What you have here is what is known as an inside bar with subsequent break out.  The inside...

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Use Bull Put Spreads To Profit With Google Now

Use Bull Put Spreads To Profit With Google Now

Hey traders! How are you?! Have you had an amazing last few days in the markets? Some wild moves and pre markets gaps have made day trading and option selling a fun and profitable endeavor.  Headed back home to Nashville, TN from Los Angeles right now and I noticed this exciting pattern on GOOGL. Well, I didn’t just notice it. It’s been on my radar for a LONG time. I love trading GOOGL. In...

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Stock Market: Next Cycle Low Due June 29

Stock Market: Next Cycle Low Due June 29

After last week’s failed call for a “relief rally” it becomes harder to accept bullish signals as seen in the McClellan Oscillator this week. There is the possibility of a micro-cycle high on/near Tuesday which gives the possibility of a 1-2 day rally but the next micro-cycle low is due June 29 which matches the Hybrid Lindsay forecast for a low near then which is outlined below.   June 27 -...

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S&P 500: Don’t Fall in Love with a Brexit Rally

S&P 500: Don’t Fall in Love with a Brexit Rally

The S&P 500 cash index ($SPX) closed at 2071.22 last Friday, down 24.85 points on the week for a 1.18% loss. For the long-term, the significant point is the retreat from the long-term resistance around 2120-2130. That resistance dates back to February 2015 in a broad topping pattern formed after a very long bull market. The resistance has successfully rebuffed eight attempts to move past...

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The Psychology Behind “Harmonic” Trading

The Psychology Behind “Harmonic” Trading

Students of Elliott wave, harmonics and GANN will know about the so called hidden pattern of the universe which can be detected in the charts. Traders at large have big issues though relating the theory into workable concepts for their (trading) life. The reason for this is mental compartmentalization The linear mind does not like the idea of simplicity within complexity. Yet this is exactly...

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2 Trade Ideas In Crude Oil

2 Trade Ideas In Crude Oil

July Crude Oil continued it retreat from the 51.67 high on Thursday, June 16, 2016 as bearish traders continue to control the price action. The breakdown from the 47.26 support level had longs packing their bags and sent price on a downward spiral to 46.14, near where it settled at 46.21. Crude Oil couldn’t recover after settlement and made its low for the day at 45.91 before ending the day...

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