Wednesday, June 10, 2009

I Ain't Believing This. Your Bones Gotta be Loaded!

Sooner or Later One of Us Will Lose. Just don't go pull any tricks on me.
5D, 15m. - June 10 - Another "Carbon Copy" day with Gap and Fade followed by late day rally. Last five days have been sideways on balance. The situation calls for patience.
30 Day, 2 Hour - June 10 - Bullish Channel persists but all of June has been sideways. MACD declining.
3 Month, Daily - June 10 - Bullish Channel Trend continues. The Bulls and Bears are in intense competition trying to prove their point on Up vs. Down. The Momentum remains Up while a lot of technicals suggest it is time for a pull back. So far the Bulls always seem to rally to preserve their case and protect their territory.

Tuesday, June 9, 2009

Bull - Bear Standoff at the OK Corral!

The Market is in Battleground Mode.  Neither side has been able to sustain a breakout.
2D, 10m. - Jun. 9 - The session today was somewhat similar to yesterday.  There was give and take on both sides without a clear cut winner.
3oD, 2 Hour - June 9 - Bullish Trend Channel dominates the reality of the market.  Until this Bull cycle is demolished, it will prevail.


3 Month, Daily - June 9 - The Narrow range Bullish Channel has been the prevailing pattern for 3 months.  Prognosticators and experts continue to suggest a "pull back" or "correction.  So far, this has not happened.

Bulls Don't Die Easily!

Conventional wisdom called for a pull back but the Bulls roared back.  It is not over 'til its over.
5D, 15 m. - June 8 - Gap down was followed by a late day rally and then a sell off.  For the last five sessions we have seen a sideways, range bound market.  A breakout from this range could well lead to more up or down.  Neither Bulls nor Bears have conceded defeat as yet.
30 D, 2 Hr. - June 8 - Longer term the Bulls still rule the Roost.  The Trend has not yet been changed from being Up.
3 M, Daily - June 8 - Range bound Bull Channel since Mid March.  No break in this pattern as yet.

Friday, June 5, 2009

Bumping Heads! But, I like the odds!

Don't be fooling around with us Bulls.  We plan to win.  How many bullets have you guys got?
2 Day, 15 minute - Jun. 5 - No direction in market.  Internals neutral.  Sidelines is the Best.
30 Day, 2 Hour - Jun. 5 - Channel Trend remains Bullish.  We are in the upper half of the Channel.  Additional pull back may be in the offing.
3 Month, Daily - Jun. 5 - Bull Trend since Mar. 6.  Fight the Trend at significant Risk!

Thursday, June 4, 2009

The Smoke is Up! Where do we go from here?

There is a lot of Alladin's Lamp in this Market.
5D, 15m. - Jun. 4 - Back to Basics with  Double Bottoms showing reversal points.
30D, 2 Hour - Jun 4 - The Channel Trend remains Bullish.
3 Month, Daily - Jun. 4 - The Trend is Up.  The Trend is Our Friend.  Do not disregard the evidence.

Bull Run Continues with a Pause for Breath

Bull Run Since March 6th. Continues with Occasional Pull Backs for Rest
5D, 15m. - Jun 3 - Falling Window with Gap Down and a Closing Rally.  Trend remains up in spite of occasional sell offs.
30 Day, 2 Hour - Jun 3 - The Run continues with a Pause for Refreshment.
3 Month, Daily - Jun 3 - Bull run since March 6th. cannot be denied.  Close above the 200 Day Moving Average very Bullish if it holds up.

Tuesday, June 2, 2009

Man! Happy Times are Here Again!

Bulls are having so much fun, we just can't stand it!
5 Day, 15 m. - Jun. 2 - Consolidation day following a day a big gains.  Is this a pause before another advance?
30 Day, 2 Hour - Jun. 2 - Channel Trend is up.  Ignore the Trend to your regret.
3 Month, Daily - Jun. 2 - The 200 Day Moving Average has been breached.  Will it hold?  If it does hold it could lead to additional moves to the upside.

The Bulls Rush In!

The Bears were Run Outta' Town - Bigtime!
5D, 15m. - Jun 1 - The move continues to the upside.  The bears have been greatly disappointed in the failure to get an expected "pull back".  Most likely many have been trapped in a Short Squeeze.
30 Day, 2 hour - Jun 1 - The Channel Trend continues Bullish.  Efforts to detect a break to the downside have all failed.  The Bulls have carried the day into higher ground.
3 M. Daily - Jun 1 - The Bull Run has been impressive.  It has taken place in the midst of continuing "bad news" & "gloom and doom" developments.  The market just shakes it off.  Perhaps it is telling us something.

Friday, May 29, 2009

When Least Expected!

Once there was a breakthrough, there was no holding it Back.  The Bull are in Charge.  All Bears are in Retreat.
2 Day, 5 min. -  May 29 - Unimpressive internals and choppy market action for most of the session.  After everyone had gone to sleep the Bulls jumped out of their pens and went at it with a vengeance.  There were incredible market gains in the last 30 minutes of trading.
5 Day, 15 m. - May 29- A Channel placed on the chart amazingly shows the final destination of the move.
3 Month, Daily - May 29 - Instead of a Bear Tilt we are back to Continuation of a Bull Trend.  It is just so long that you can fight the market with what you believe will happen.

Thursday, May 28, 2009

Roller Coaster Rumble

The Roller Coaster can be fun.  Today was not fun for most traders.  Lots of pain with all the ups and downs.  A great market for Spreads and Condors with their defined risk.
5 Day, 15m. - May 28 -A very volatile day of multiple ups and downs.  You had to be armor plated to deal with this one.  The market is a real battle between Bulls & Bears and awaits a breakout to one side or the other.
3M, Daily - May 28 - There seems to be a very slight tilt to the downside.  Prior support can act as new resistance.  Resistance will be challenged and it remains to be seen if it will hold.  A breakout below the channel would be very Bearish.