Keep Your Eye on the Dollar - Is it Weak or Strong?

US Dollar Continues to Gain Strength.  In a Weird Way this is Negative on the Market.

DX-US Dollar-11.30.10- All Eyes on the Dollar-It Drives the Market

SPY 3 Month, Daily - 11.30.10 - Range Bound Market continues.  High of 120 and Low of 118 on the SPY.  Price Action today with a weak close suggest weakness at Support.  It remains to be seen if 118 can hold on the SPY.  So far the Bulls have supported and come Roaring Back at every Pull Back.

Situation Status Quo!

The Table is Open;  Take Your Choice!

SPY 3 Month, Daily - 11.29.10 - The Market is Range Bound in a narrow band on the SPY between 118.00 and 120.00.  Today the Price Action was contained in that Range.  The Market remains between the 20 and 50 Day Moving Averages which suggest lack of directional conviction.  The longer term trend is UP.  The odds are in that direction, but that is not a certainty.  Continue to watch for a breakout above 120 or below 118.  There is no divergence or difference in opinion expressed by On Balance Volume.  Volatility remains high so always expect the unexpected.

When Things Get Feisty, Look at the Bigger Picture

Two Weeks of Deuce Begs for a Breakout

SPY 3 Month, Daily - 11.26.10 - Rectangle demonstrates a range between 118 and 120 on the SPY.  On Balance Volume confirms.  Price Action is between the 20 & 50 Day Moving Averages.  This is the Devil's Den that we try to avoid.  Trading in the Den can be hazardous as the market direction is undetermined.  It is a battleground between the Bulls and Bears.  When a fight breaks out in a bar, the best thing to do is leave.  The longer term trend is up so the trade to look for would be a breakout above 120.  (This is not a prediction.  The market could go the other way as well.)   My personal plan is to wait and watch for a breakout.  I'm watching the fight from the sidewalk.

Bombs Burst and Market Flinches!

Uncertainty in Korea has Market on Edge

DX (US Dollar) Continues to Rally with EURO in Decline.

ES (S&P Futures) in Decline as Market Retreats from Uncertainty.  Technicals remain important in Market Analysis, but Major News Events and Global Uncertainty can Dominate Financial Decisions.

The Dollar is Smokin' - The Market is Coughin'

US Dollar Rally Continues > Pressure on the Market

DX (US Dollar) Trending Up

SPY 3 Month, Daily - 11.23.10 - Trending Down

SPY 20 Day, Hourly - 11.24.10 - Trending Down - Key Support @ 118.00

Trading is the Analysis of Probabilities

First and Second Standard Deviations Often Define the Issues.

DX (US Dollar) in Decline after a Rally.  Broke 1 1/2 Standard Deviations to the South.

SPY 20 Day, 1 Hour - Broke 1 1/2 Deviations to the North.

DIA (DOW) 20 Day, 1 Hour - Broke 1 1/2 Standard Deviations to the North.

Bulls are on Defense as Market Hits Support!

Bulls have been in Retreat - They have Fallen Back to Prior Support Line.  Will it Hold?

SPY 20 Day, 2 Hour Chart - 11.17.10 - Lots of Support at This Level when Looking back 10 Days.  Will it Hold or Fail?  Failure Here Could Mean a Lot Lower to Go.

The Worm Turns - New Trend Developing

Markets in Change of Heart

US Dollar in a Rally to the Upside - Negative Influence on Market

YM - Dow - New Channel to the Downside Signals Change in Trend

NQ - NASDAQ - New Channel to the Downside Signals Change in Trend

Fishing for a Winner! Keep the Line Tight!

No Herring Me, but I Love a Breakout!

SPY Daily - 11.15.10 - Oval Identifies the BO.  Good Trade!

(If there are questions about this trade, email me at <>.)

New Directions ??? New Decisions !!!

Crossroads in Market as Dollar Devaluation Continues

SPY Daily 11.12.10 - Herring Bone Breakouts offer opportunities.

/NQ Daily - Herring Bone Breakouts.

/ESZ0 Daily - Herring Bone Breakouts.