Trading in the market today you better watch where you go.
There’s money in the market today but where you’ll never know.
For every trader who thought he was hot, todays he’s ruined and he’s clearly not!
Cause today’s the day the market bears had their pic–nic…
I’m sure a lot of people felt like this the past week.
I’ve been trying to move my blog to another domain and give it a new face but its taking some time so I apologize if I haven’t been updating recently.
For my first update this year, so lets start the the S&P. A wise man once said “Weeeeeeeeeeeee!”.
Volatility and liquidity has been awesome for some scalpalicious /ES trading.
(ES) E-Mini S&P 500
Market has been getting hammered, worldwide giving us this pullback that has been long overdue. All major support levels have been broken up here. Friday close was pretty bearish so I’m looking for some more selling to come.
Downside Targets:1062.50 a little pop there, then continue lower to around 1043 area
(DX) US Dollar Index
Dollar Index broke out of that descending broadening wedge and we closed right against resistance.
TLT
TLT Treasury ETF is about to breakout. Double Bottom (kind of?) clear cut Bull-Flag to the upside so it looks like yields are about to drop.
(GS) Goldman Sachs
(GS) Goldman Sachs, Clear cut head and shoulders on the weekly. Minimum target 142 but I think it trades down to 135 area.
(AAPL) Apple Computers
(AAPL) Apple, I got a short equity position that I put on at earnings, Covered Half at 192.25. Looking for 189-188 area and depending on how much support we get down there, I’ll decide if I’m going to cover or let it ride. The much anticipated Tablet (iPad) is nothing but a glorified IPOD Touch, though it does not ship for another 3 months, I have a feeling they’re just waiting for the FCC to approve this thing.
Apparently even the Furher is disappointed.
(SPG) Simon Properties Group
(SPG) Simon Properties Group, One of my favorite REITS to trade. Clear cut Head-and-Shoulders that is not yet complete. It spent week it spent time forming a bear-flag. Look for more continuation to the downside.
