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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

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

Late Summer

Late Summer

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 26 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. Oct. 5 @ 8:30 am ET ~ Employment Data
* Mon. Oct. 8 ~ Canadian markets closed for Thanksgiving Day Holiday
* Thurs. Oct. 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Oct. 17 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Oct. 24 @ 2:00 pm ET ~ Beige Book Report
* Tues. Nov. 6 ~ U.S. Midterm Elections
* Thurs. Nov. 8 @ 2:00 pm ET ~ FOMC Announcement
* Thurs. Nov. 22 ~ U.S. markets closed for Thanksgiving Day Holiday & NYSE closes early @ 1:00 pm on Fri. Nov. 23
* Wed. Dec. 19 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Tues. & Wed. Dec. 25 & 26 ~ Canadian markets closed for Christmas & Boxing Day Holidays
* Tues. Dec. 25 ~ U.S. markets closed for Christmas Day Holiday & close early @ 1:00 pm on Mon. Dec. 24
*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Thursday, July 07, 2011

YM, ES, NQ & TF...OPEX Candles & Heikin Ashi Candles

Each candle on the chartgrid below of the YM, ES, NQ & TF represents a 1-month OPEX period.


An approximate 100 point range on this ES consolidation could, at some point, produce an upside breakout to around 1450ish or a downside breakdown to around 1130ish (approximately the 50% retracement level of the big plunge from September 2007 to March 2009). The current OPEX 2011 range on the YM & ES has already penetrated into the last red OPEX candle of May-June 2008 immediately before the next stair-step down and big plunge...whereas, the NQ & TF are well above and poised for new all-time highs. The current OPEX candle on all 4 e-minis is a bullish engulfing one, so far...the NQ is an "outside" bar, so far...the others have higher lows than the last candle, so are not "outside" bars.

The OPEX Heikin Ashi candles on the chartgrid of the YM, ES, NQ & TF show a sideways trend for this timeframe.


Whereas, the Weekly Heikin Ashi candles show a trend reversal to the upside so far, but this would need confirmation on next week's close.


There is no hint of a reversal to the downside yet on today's Daily Heikin Ashi candle...although my RSI levels are running a bit hot.


My guess is that the MMs push these 4 e-minis up as high as they can before OPEX next Friday before we see any kind of a decent retrace...maybe a "pop & drop" formation on the OPEX timeframe.

One last thing...that is that price on my NQ Daily chart is now back up to the rising trendline that used to form the "Pink Diamond" pattern that I've mentioned in previous posts. It already tested the lower one and below, so it may "mirror that action in reverse" and keep going up to the next resistance level of 2441ish.


"The recession has hit everybody...my cousin had an exorcism,
but couldn't afford to pay for it, and they re-possessed her."
Author--Anonymous