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Welcome and thank you for visiting!

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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Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Mon. May 28 ~ U.S. markets closed for Memorial Day Holiday
* Wed. May 30 @ 2:00 pm ET ~ Beige Book Report
* Fri. June 1 @ 8:30 am ET ~ Employment Data
* Tues. June 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. June 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Tues. July 3 ~ U.S. markets close early at 1:00 pm ET
* Wed. July 4 ~ U.S. markets closed for Independence Day Holiday
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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* JCPOA - Will President Trump recertify the JCPOA on May 12?...stay tuned...May 8 the answer is "No"...US pariticipation in the deal
is scrapped...new sanctions coming for Iran and, possibly, for nations supporting Iran.

Wednesday, July 20, 2011

The Markets & Elvis...

To sum it up, the markets so far this year are simply gyrating like Elvis' hips:


From the Daily chartgrid of YM, ES, NQ & TF above, you can see that:
  •  all 4 are trading above their Bollinger Band mid-point (with the YM & NQ higher than the ES & TF),
  • all 4 are still above their 50sma,
  • the YM & NQ are above their 38.2% Fibonacci retracement level of this year's trading range,
  • and the ES & TF are in between their 38.2 & 50% Fib retracement levels of this range.
My post of July 12 referred to this chartgrid: http://strawberryblondesmarketsummary.blogspot.com/2011/07/some-statistics-for-ym-es-nq-tf.html
Since then, price is relatively unchanged after retesting the low and the high of that day's price action. I would re-iterate that we would need to see volume evidence on the Daily timeframe that sustained buying is happening and not the large intraday swings that are still occurring in both directions...otherwise, we will likely see further drifting within this range until a catalyst comes into play that moves the markets one way or the other and outside of the range.


"Some people tap their feet, some people snap their fingers, and some people sway back and forth. I just sorta do 'em all together, I guess."
--Elvis in 1956, talking about his way of moving on stage

By the way, there will always be a debt crisis in countries around the world until their debt starts to (and continues to) decrease...it won't  be "solved" by delaying "paying the piper."