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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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* 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.

Thursday, July 28, 2011

YM, ES, NQ & TF slipping...

Below are 4-hour line-charts of YM, ES, NQ & TF with two regression channels overlayed on them...the longer one (uptrending--Channel #1) begins in December 2010 and the shorter one (downtrending--Channel #2) begins in May of this year.

Current facts about price relative to these two channels on this timeframe are as follows:

  • Price on YM & ES is at an important intersection of the -1 deviation level of Channel #1 and the "mean" of Channel #2...in fact, price is just below this intersection in after-hours trading as I write this post.
  • Price on NQ is currently just below the "mean" of Channel #1 and in between the +1 deviation level and the "mean" of Channel #2.
  • Price on TF is currently trading below the -1 deviation of Channel #1 and in between the "mean" and the -1 deviation level of Channel #2.
In terms of relative strength, I'd rate NQ as the leader, followed by YM & ES, and finally TF. Any sustained rally by these e-minis would require the participation of TF, and, conversely, any sustained breakdown would require the participation of NQ. A sustained breakdown below 12240 by YM and below 1300 by ES would endanger a potential advance to new highs for this year in the near-term...as it stands at the moment, these price levels will  need to be re-captured and held. Attempted intraday rallies have failed to hold so far this week, and all, except NQ, have made consecutive lower closes each day.