Tag Archives: $ES_F

Trend line Fun With Futures: S&P and Russell $SPX $SPY

The S&P seems to be looking to test its upward sloping resistance while the Russell is testing its downward sloping resistance as well as its %50 retracement. Lets see if the markets can overcome these hurdles and if not targets from previous post are in play. BTW $TSLA and $NFLX will be stocks to watch on any pullback for long entries. Ill post some targets in the coming days to see where they will likely head.

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Trending… Be A Bear $SPY

Looks like it is not very popular to be a bull according to  AAII Sentiment readings….

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Short Term Oversold $SPY $NYAD

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December 10, 2015 · 11:13 pm

Can Market Get Its Mojo Back?

Not going to sugar coat it, March has been an ugly month for the markets. Even as ugly as it has been, it has been rather minor in the larger context. Take for instance we are still in a constructive position on the longer term weekly chart, resting comfortably above the 21 WMA that has proven to be a nice area to see buyers come in…

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Now, looking at the shorter term, we burned right through the 21 DMA, which is a big red flag.

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However, typically when this occurs, look for it to recover and not sit below more than a day or two. Additionally, the SAR is still below price movement and we are at the 2nd standard deviation which also can be an area of support, but if it doesn’t seem to want to retake the 21 DMA, than gloves are off and its time to play defensive until it does. Lets see if the market can find its mojo again and move above its daily moving average!

yeah-baby-yeah

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Potential $ES_F and Gold Targets to Watch …Is 2069 next?

Fridays close put us right above the 78.6% Fib target extension for the e-mini futures. Looking for a pause here with a resumption to the upside to possibly the 127 Fib extension around 2069. As it stands we are at elevated levels that would be a natural area to take profits and patiently wait for breakouts or set ups. Maintaining above 1971 would open the door to 2069, but keep in mind sentiment is overly bullish right here. Would like to see some rest possibly backtesting 1971 area. Longer term I’m waiting for stocks to press higher till end of year and watching for gold and oil to drop and will sell out of market to purchase oil and gold early next year. For now buy equity markets only on pull backs.

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Gold target still looking to be in cross hairs…as long as gold is dropping then this market still can run higher.

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https://nitrotrend.wordpress.com/2013/12/29/gold-target/

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Do We Crash ? Not Yet…

A couple things I’m looking at are sentiment, divergence and support levels. Firstly, I still remain optimistically /constructively bullish coming into these levels. If a bounce is to occur then we should see something soon. Only thing that is giving me some cautiousness in going 100% all in is sentiment. Sentiment is still overly bullish for me to get excited, but there are some divergences on indicators that is giving me some ray of hope. Keep an eye out on the WMA as we sit right at them and if we break any lower the %50 fib retracement sits right near 1952 on the ES/. fib retracespy wmaes wma

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7 Day Run With A Caveat…

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