WELCOME

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 $$$...

Beach

Beach

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Tues. July 3 ~ U.S. markets close early at 1:00 pm ET
* Wed. July 4 ~ U.S. markets closed for Independence Day Holiday
* Thurs. July 5 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. July 6 @ 8:30 am ET ~ Employment Data
* Thurs. July 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. July 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. Aug. 1 @ 2:00 pm ET ~ FOMC Announcement
* Mon. Sept. 3 ~ U.S. markets closed for Labour Day Holiday
* Wed. Sept. 26 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
*** 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

Tuesday, August 02, 2011

3-Day Candles...update on YM, ES, NQ & TF

My post of July 29 refers:  http://strawberryblondesmarketsummary.blogspot.com/2011/07/3-day-candles-on-ym-es-nq-tf.html

Here's an update on this 3-Day chartgrid of YM, ES, NQ & TF...the current candle will close tomorrow. The comments noted in my previous post still apply. One thing I would add of note is the high volumes traded so far on the current candle, particularly on TF.



Furthermore, my post of July 28 refers:  http://strawberryblondesmarketsummary.blogspot.com/2011/07/ym-es-nq-tf-slipping.html

Below is an updated 4-hour chartgrid of YM, ES, NQ & TF with those 2 regression channels (which were mentioned in my post) overlayed on the charts. The failure of ES & TF today to hold price above the -2 deviation level of the longer-term uptrending regression channel weakens any argument in favour of a return by these 2 e-minis to the +2 deviation level...the longer they remain below, the stronger the argument becomes. YM is currently trading around this -2 deviation level, while NQ is trading below the -1 deviation level.

The -2 deviation levels are as follows:
YM = 11800ish
ES = 1260ish
NQ = 2220ish
TF = 774ish


Whether or not price returns to and holds above these levels on ES & TF, and whether YM & NQ hold above these levels, depends on tomorrow's directional sentiment and momentum. I'll be watching the US$, VIX, VXN, RVX, Gold futures, $TNX, XLF, Advance/Decline Issues, Up/Down Volumes  (which registered a new 90-day low level on the sell side today), Cummulative TICK, as well as the 3-Day candle closes. Perhaps these will give clues as to whether or not the markets are rolling over or whether this is another set-up for a bear squeeze.

Prices on the following Daily chartgrid of variousVIX's are currently within a resistance zone, and, most notably, below the March 16 high...it will be interesting to see whether volatility picks up on these indices, and whether or not this high is taken out with conviction if these e-mini futures markets continue to drop at their current pace...even though TF broke and closed below January's, March's and June's low today (the Daily triple bottom), the RVX didn't return the favour in reverse.