Cross-Confirm, Cross-Confirm, Cross-Confirm

If you click on and then print out the two charts above you'll see the importance of cross confirming before you click 'buy' or 'sell'. While you may not have clarity on the 4000 Tick Chart, you will have it on on the 20,000 Tick Chart. And the smaller tick chart will give you a more precise view of what price is doing so you can execute closer to the top or bottom.

As always, everything you need to navigate the day is in the charts.

We spent the day in a squeeze Friday so we can expect a pop this coming week.

My sense is we will break to the upside. But it's no accident that the market appears as though it could go south for a day or more. We have a lot of pending market-moving 'news' out there that the market is waiting for. Will the Dollar continue it's rally? Will we have more bad news in real estate? The bond market is poised to implode.

The news will move the markets for sure. But we have the tools to navigate whatever it hands us.

WARNING: Fututres trading involves risk. You can lose all of your money and more. Consult with your financial advisor to determine if futures trading is suited for you.
Any and all illustrations posted are for educational purposes only. There are no recommendations to buy or sell on this blog. And past results are no guarantee of future performance.

A Tricky Week Comes To An End

On Tuesday we broke through the 1092.5 level and it became support for the last three days of this four day week.

At times it felt like we could sell-off any minute. It was all a mind game.

On the 60 minute above we can see the HMH's doing their job of keeping us on the lookout for buy signals.

WARNING: Futures trading involves risk. You can lose all of your capital and more. Consult with your financial adviser to determine if futures trading is suitable for you.

A Rare Occurrence

On Friday Warren Buffet's Berkshire Hathaway was added to the S&P 500 in place of Burlington Northern Sante Fe after the close. It helps to explain the dumping of S&P shares overnight until 10AM. Traders raised capital to get in on Buffet's class B shares. In minutes after the closing bell traders snapped up about $8 billion worth of shares.

The 60 minute above was real kind with that perfect buy signal at 10AM.

On the daily chart below it was just another day of filling in a classic bottom formation.

WARNING: Trading futures involves risk. You can lose all of your capital and more. Consult with your financial adviser to determine if trading futures is suitable for you.

Rock N' Roll!

After a late start I realized we were in for an interesting day. The late start cost me a few early moves.
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Below we see the morning started out with a bear flag squeeze. Bear flags usually indicate more downside to come. And that's what happened.

On the 15,000 tick we were "tipped-off" to more downside by the LML in the FRO. Ain't it neat?

We're still down below previous support on the 240 minute above.

The 10,000 above and the 20 minute below illustrate the need for multiple views in order to see surprise events like the sharp bounce in the afternoon session.

WARNING: Futures trading involves risk. You can lose all of your capital and more. Consult with your financial adviser to determine if futures trading is suitable for you.

Wow! Did I Get It Wrong!

I really thought we'd see more upside today but I sure was wrong.
Price broke down through previous support.

BUT.... When I opened my charts this morning I saw the formation below. I knew I was wrong last night and I was positioned to capture the entire move down. So I don't have a sob story to tell.

And this is how it played out.

The 60 minute below tells the story. A sell signal at 7:40am and the LML were telling me to just stay short all day.

WARNING: Futures trading involves risk. You can lose all of your capital and more. Consult with your financial adviser to determine if futures trading is suitable for you.

New Month - New Trend.

While today was a squeeze we at least had good indication of pivots and clear forcasting on future direction.

Looking at the 480 above we see that the trend change began Sunday night. I hate when that happens. I'd rather not get into a trade until morning.

On the Daily, it's a little early to tell but it appears that we will continue this rally from this pullback. We've put in a decent bottom on support.

The 240 above is forecasting more upside with the HMH peaks in the FRO.

Warning: Futures trading involves risk. You can lose all of your capital and more. Consult with your financial adviser to determine if futures trading is suited for you.