A Day of Ups and Downs

"Who's in Charge of Punchin' the Buttons Anyway?"

5D, 10m. - Apr. 22 - It is a good thing to have a plan in mind as to how to approach the market each day.  The prior days highs and lows are important landmarks.  The Major Trend is very important.  Channel Analysis can be very helpful in avoiding trades that are "swimming upstream."  The Major Trend today is up and the SPY is in the lower level of the Channel.  It would make sense to look for a "bounce" off support.  This is exactly what we got, and the move was supported by progressively improving internals, a rising MACD  & CCI.  The market ran into Resistance on two occasions and dramatically fell back to support near the end of the session.  A nice profit, however, could have been made during the session assuming a disciplined exit.
20D, Hourly - Apr. 22 - Trading with the Trend can be the safer way to trade and is quite logical.  Yes, there are counter trend trades that are often profitable, but the odds of success are lower.  Use of Channel Check Analysis is a good basic strategy especially for swing trades over a two or three day period of time.  Establish a Channel that makes sense and note the higher resistance and lower support lines.  Consider appropriate trades and use stops to exit if the market goes the wrong way.  The market has a mind of  its own and we cannot tell it what to do.  Not every trade is a winner.  Albert Puhols does not get a hit on every "at bat" and we can't either.
3M, Daily - Apr. 22 - Longer term the Trend is Bullish.  We have had a minor downward trend for the past week with high volatility.  Use Channel Check Analysis and use Resistance and Support to help with trade decisions.  Get supportive data from the Internals, the MACD, the CCI, and the appropriate use of Moving Average Crossovers.  Technical Analysis is a blend of using Charts, Data, and Timing.  Trading is an Art and not simply a mechanical activity. 

The Bull Fights Back

"The Bears Have Run for the Woods."

2D, 10m. - Apr. 21 - Today we had a bounce back from yesterday's market pull back.  At 12:20 we thought we had a good trade to the downside  but the momentum did not follow through and the Bullish move resumed stopping us out at the Pivot.  The market had pulled back from Resistance, the MACD was in decline, and the CCI was turning down.  The only negative to the trade was that the Internals were strongly Bullish.  It was a good trade that just did not work out and we exercised discipline by taking to the Exit.  

Notice the "S" Turn Up which is a frequently seen pattern of price movement.
20D, Hourly - Apr. 21 - Bullish channel remains the dominate feature of the recent market action.  
3M, Daily - Apr. 21 - Bullish Channel punctured by a shorter term downward trend line.  The Bounce today resumes the move to the upside (at least it appears that way).  The big pull back on Monday could have been better stabilized by a sideways days today.  The quick bounce actually injects some increased uncertainty as to where we go from here.  The close today was modestly bullish.

The Bears are Watching Closely!

"Bears Don't Stay in Hibernation Forever"

2D, 10m. - Apr. 20 - Gap down on the back of very weak internals.  To the contrary the MACD is  bullish (divergent indicator).

20D, 2 Hour - Apr. 20 - Intermediate Bullish Trend now punctuated by a shorter term Bear move.    Near term outlook is bearish but high possibility of a Bounce to the upside.
3M, Daily - Apr. 20 - Long term charts are an absolute necessity for market perspective.  The Bear Market Rally continues but has been interrupted by a pull back or correction.  How far this will go is a big question.  The 82 area on the SPY is a good possibility.  Support can be expected at the next Low.

A Mind of Their Own

"When you come to a Wedge (sic) in the Road, Take It! - Yogi Berra 

3M, Daily - Apr. 17 - Rising Wedge with progressive compression of the upper range.  The odds would suggest that it would break to the downside.  Early morning action could prove pivotal to the next market move.
10 D, Hourly - Apr. 17 - Hourly chart shows market at upper limits of wedge in a rising channel.  Gold Spot indicates possible pull back target near the 20 D, MA line.  Take note of the MACD and CCI indicators.  Both are Bullish but with a very slight tilt to the downside suggesting a weakness in momentum.  Weekends, however, do have a way of changing sentiment.

"Little Engines Go Up & Go Down"

"Are We Over the Hill?"

2D, 10m. - Apr. 17 - While coming up against resistance the market shows a lot of strength.  The Trend continues to be Bullish but the market is very overbought.  Long positions should be taken with caution.
20D, Hourly - Apr. 17 - "The Bull Potato Carries the Day."  This is a victory for the week but will it carry on into next week?

3M, Daily - Apr. 17 - The Daily remains Bullish but there is Resistance ahead.  A pull back would not be unexpected.  A Gold Spot highlights a possibility.

Smiling Tiger Setups that Work!

"I am excited!  The Sleeping Tiger Strategy is Fantastic.  Check it Out."

3M, Daily- Apr. 16th. - The Tiger works on long term trades.  8/13 Crossover provides a nice move to the upside.  Great Potato Move!
10D, Hourly - Apr. 16 - "Tiger Breakout" on Hourly.  This play works on all time frames.  Look for the pull back into the Devil's Den.  Then watch closely for the breakout.  Execute when the 8 crosses the 13 assuming all other parameters are in sync.
10D, 60m. - Apr. 16 - 2 Tiger Breakouts in the same session.  Watch the Devil's Den for breakouts.  Line up  all indicators and you are on your way.

For more information on Sleeping Tiger setups click on the Sleeping Tiger picture in the sidebar for Toni Turner's explanation and instruction.  You must be registered on the Money Show and Sign In to view the videos.

Punching On Resistance!

"Where O'Where Do We Go From Here?"

2D, 10m. - Apr. 15 - Mostly a sideway day but with a Sneak Attack in the last hour.  Important points are the MACD levels as associated with Price Action.  It is important to coordinate the two in entering trade positions.
10D, 30m. - Apr. 15 - The Tray remains Tipsy but the finish it strong.  Tomorrow will be interesting.
3M, Daily - Apr. 15 - Bullish Channel but the latest Candle is right at Support.  Will it hold or will it break?  The Trend is Up and the Trend is Your Friend.  Pay attention to important ideas.

"May You Be Served"

"At Your Service.  The Buffet is Set and Ready.  The Tray is on a Tilt!"

2D, 15m. - Apr. 14 - Important points here are that price action was below the 20 Day Moving Average which most traders consider as the "Holy Grail."  In fact many use the 20 Day Moving Average as a line to play their trade off of.  In other words, just dance along the top of or just below the 20 Day.  That is for some a "simple strategy" to follow.
10D, Hourly - Apr. 14 - "The Tray is Tilted."  Within the intermediate term bullish trend there is this shorter term tilt to the downside that can be seen in the above chart.  This could result in a continued downward movement on Wednesday and could be followed by a "Bounce."
3M, Daily - Apr. 14 - Daily Bullish Trend continues but is running into Resistance at the 88 level.  There are multiple gaps within the Trend which are symptomatic of the volatility in this market.  The Trend is Bullish and the MACD is Black which is Bullish.  The CCI is above the Zero line which is Bullish.  Having said this we know that the market is fickle and will do what it wants.

The Sleeping Tiger Leaps Into Action on Que!

"As if a Bull is not enough to worry about.  Now they have come up with a Tiger."

1D, 5m. - Apr. 13 - The Sleeping Tiger hit on on cylinders for a perfect play.  The chart tells the story.  This was an actual trade that took place today.  Toni Turner explains this strategy on the Money Show.  He tutorial can be reviewed by clicking on the Sleeping Tiger in the sidebar.
20D, 2 Hour - Apr. 13 - The 20 Day channel remains bullish.  There has been considerable volatility along the way.  The MACD and CCI are well into positive territory and indicate an overbought condition for the moment.  This could result in a pull back which may only be temporary.
3M, Daily - Apr. 13 - The Bullish move has taken closer to Resistance at the 88 level.  There are numerous gaps that cry to be filled.  Continued volatility can be expected.  All indicators are Bullish for the short term.  Long term the trend is still Bearish.

Catch Me if You Can!

"Now that Easter is over, I am on the Run.  Catch me if you can." - Market Bunny