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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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* 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...please read my full Disclaimer at this link.


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

Vintage Xmas Shopping

Vintage Xmas Shopping



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Wednesday, June 01, 2011

YM, ES, NQ & TF...The "Attractor Factor"...

At the moment, price seems to be afraid to make a move too far away from its "security blanket" on YM, ES, NQ & TF...the daily 50sma (red) (see the Daily chartgrid below). Furthermore, the bulls have been unable to sustain a move above their old (and invalid) IHS necklines...every attempt to do so has been met with fierce selling. Today's action so far confirms the sideways movement in play during the past few weeks, as well as intense profit-taking that is occurring once players have pushed prices up...the latest push up which began May 25 may end up being a "dead cat bounce." Once the market gets tired of this scenario and if enough bulls fail to materialize, price may fall to the 200sma (pink) over the next several months.