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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 $$$...

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Thursday, January 12, 2012

YM, ES, NQ & TF...Sectors...Gold...Oil

My post of January 10th made reference to a 10-Day 30-Minute chartgrid of the YM, ES, NQ & TF. I mentioned that any repeated attempts to advance convincingly beyond last week's high will need to be accompanied by higher volumes. The updated chartgrid below shows, firstly, that the YM has not been able to sustain a breakout above that high, while the ES, NQ & TF advanced today after re-testing this level. Today's initial drop occurred on higher volumes, with the bounce on lower volumes. My prior comments still apply...I'd be looking for higher volumes on any sustained breakout to validate a bullish setup.


Further to my post yesterday, the Sector Rotation graph below shows today's action on the Major Sectors. Materials was the big gainer, while Energy was the big loser...money continued to flow into the "Risk" sectors, as well...will see if money continues to flow into "Risk" on any further advance on YM, ES, NQ & TF.


The 4-Hour chart below of Gold shows that it ran into confluence resistance (Fibonacci, price, and a high volume level on the Volume Profile at the right edge for the entire 180 days) at 1660 today. This is a major resistance level and the advancing volumes were steady, so will see if further risk  appetite continues in this market, and what happens to volumes.


The 4-Hour chart below of Oil shows that it dropped into Volume Profile POC (for both last month and for the entire 180 days) and Fibonacci confluence support today. It has failed, once again, to hold the 102.00 level that I last mentioned in my post on December 29th, 2011. The increase in volumes this year, together with today's drop below this year's range, suggests that a topping process has begun...a chart I'll continue to watch over the next days/weeks.