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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Wednesday, April 27, 2011

The Moment of "Truth" has arrived...


Here's how the VIX closed the day relative to the Monthly, Weekly & Daily charts (Hint: right-click on each link to open a chart in a new window):

http://screencast.com/t/oFWJDINTWrA

http://screencast.com/t/ieCFQpnFTuY

http://screencast.com/t/STfgepg4ZBc

Here's how YM, ES, NQ & TF closed the day relative to the Monthly, Weekly & Daily charts:

http://screencast.com/t/88gnTTDo

http://screencast.com/t/YurLTdGO

http://screencast.com/t/dpbXgsUn6Dq

With today's breakout on the Daily charts (post-Fed meeting results) on YM, ES & NQ (however, TF failed to break its last swing high), and the Fed's decision to keep rates unchanged, it would appear that the markets have been given the blessing to make their way back up to at least the 2007 highs unhindered (NQ is already there & TF hasn't far to go), while allowing the VIX to fall to its 2007 lows. Perhaps when the VIX has reached those levels, it will stabilize. As a first-stage confirmation of this potential scenario, I'll look to see if the breakout levels on the 3 e-minis can hold in the near-term and whether the TF will follow suit. On an intraday basis, extreme bullishness tomorrow would be confirmed to me by tomorrow's Daily PP's (dotted pink horizontal line) holding as support as shown on the 60 min charts, with price continuing upwards from there and a closure over today's highs:

http://screencast.com/t/WDCQynlOnm

It also seems that the Fed is ignoring what the NKD is doing...until another future disaster possibly occurs in Japan. After the earthquake, the YM, ES, NQ & TF basically traded identically to NKD, but the recovery of the NKD has not taken place to the same degree:

http://screencast.com/t/tUldJ0BS6xO