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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...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* 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...

Dots

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Wednesday, May 04, 2011

Judgement Day...

As can be seen on the 4-hourly chart grid below, YM, ES, NQ & TF are flirting with their respective levels of support that have been formed over the past days or weeks:


The chart grid below shows Daily candles on ZF, ZN & ZB, which are in the vicinity of prior resistance levels...as well as FVX, TNX & TYX, which are in the vicinity of prior support levels:


Below is a chart showing Stocks Above 20-Day Moving Average (this chart and the next two are courtesy of http://www.barchart.com/):


Below is a chart showing Stocks Above 50-Day Moving Average:


Below is a chart showing Stocks Above 200-Day Moving Average:


As can be seen on the three charts above, each one is in the vicinity of prior support.

It is my view that any further significant decline on YM, ES, NQ & TF would need to penetrate and hold beneath recent support levels on sufficient volumes and momentum, along with the continued advancement of the bond markets, in order to signal a possible reversal of their daily uptrends in the making. As usual, I'll be viewing intraday price and volume action around their Daily Pivot Point levels, as well as other market internals, to determine direction on a daytrading basis.

In addition, I will be keeping an eye on NKD (see chart below) which did fill its post-earthquake gap-down @ 10,005 but did not close above and has fallen back to the 9800 level...as well, the 50sma (red) has X'd below the 200sma (pink) on the Daily chart...price has been struggling between 9400 & 9800 for quite a few weeks now: