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
* 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.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* 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...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Apr. 8 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. Apr. 10 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Apr. 15 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. Apr. 15 @ 2:00 pm ET ~ Beige Book Report
* Wed. Apr. 29 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. May 1 @ 8:30 am ET ~ Employment Data
*** Click here for link to Economic Calendars for all upcoming events
Tuesday, September 06, 2011
Is the glass half empty or half full?...
Below is a 4-hourly chartgrid of the YM, ES, NQ & TF. Overlayed on each chart are 2 regression channels. The longer downtrending channel runs from the beginning of May of this year for the YM, ES, & TF and began in late July for the NQ. The shorter uptrending channel began on August 8. I referred to this chart in last Friday's end-of-the-week post. After an overnight drop, price moved up today and is still trading in the lower one-half of both the longer and shorter regression channels on the YM, ES & TF, and is in the lower one-half of the shorter regression channel and in the upper one-half of the longer regression channel on the NQ.
With all the reports coming out this week (Beige Book tomorrow, Mr. Bernanke's and President Obama's speeches on Thursday, a switch-over to the December 2011 contracts for the 4 e-minis on Thursday, etc., we may see further non-commital range movement within the very large range established by the shorter regression channel until a breakout occurs with conviction in either direction. However, at the moment, the glass is generally half-empty for the YM, ES, NQ & TF until they are all above both channel "means." Until then, they are still in danger of more downward pressure, especially at the intersecting channel "means" on the YM, ES & TF, and the intersecting -1 deviation level of the longer channel and the "mean" on the shorter channel on the NQ...at the moment, these price levels are 11345ish on the YM, 1180ish on the ES, 2190ish on the NQ, and 700ish on the TF.