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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

* 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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* If the dots don't connect, gather more dots until they do...or, just follow the $$$...





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Tuesday, June 28, 2011

Pac-Attack!...Game On!

I've never seen so many green 60 minute candles in a row recently on YM, ES, NQ & TF! Somebody's been playing Pac-Man (on coke) with the markets today...amazing what exhilaration can be produced over the potential sale of a country's assets...time to dig out those shopping carts 'cause everybody loves a bargain. (I do, however, feel sorry for the citizens in Greece...not a pretty sight what they're going to be up against in the coming months and years.)

And, here's where Day 1 of the 3-Days/candle charts ended today for YM, ES, NQ & TF. My post yesterday refers to potential targets on this timeframe. Looks like NQ & TF, in particular, are on their way to forming a possible right shoulder of a H&S pattern.

I also put up the following chart of EUR/USD for your consideratoin...each candle also represents 3 days and here's where Day 1 of the current candle ended today...price is still in between resistance and support and has yet to break out of the rising triangle. The second chart below shows these levels more clearly on a longer time scale beginning in October 2005.

These candles will close this Thursday...to tie in with the Greek parliament vote. Meanwhile, the waiting game continues...anyone for another round of Pac-Man tomorrow?