Tradesight Market Preview for 9/1/11

The SP finished the day higher by 13 in a very sloppy low volume day. Price gapped higher, and bearishly closed below the open. Note that price touched and then was rejected by the upper trend channel. A camouflage sell condition is in place.

Naz touched the 50dma but was rejected and settled with a camouflage sell signal.

Multi sector daily chart:

The broker-dealer index was the top performer but was unable to close the gap.

The BKX was higher on the day and outperformed the broad market. Note that price tested the key resistance level but didn’t exceed it on a closing basis.

The OSX tested higher prices but was rejected by sellers.

The BTK pushed higher into the gap but bearishly settled below the open.

The XAU hit the static trend line and settled lower on the day. The obvious goal has been reached by the bulls and now a close above to break this level would be notable.

The SOX was the last laggard on the day and is a cause for concern to the bulls. Keep a close eye on the midpoint of the trend channel. A close above this line would be the first piece of evidence that a legitimate change in trend is in the works.

Gold posted a very narrow session.

Oil was almost unchanged even after the weekly government inventory data was released.


Tradesight Market Preview for 9/1/11

The SP finished the day higher by 13 in a very sloppy low volume day. Price gapped higher, and bearishly closed below the open. Note that price touched and then was rejected by the upper trend channel. A camouflage sell condition is in place.

Naz touched the 50dma but was rejected and settled with a camouflage sell signal.

Multi sector daily chart:

The broker-dealer index was the top performer but was unable to close the gap.

The BKX was higher on the day and outperformed the broad market. Note that price tested the key resistance level but didn’t exceed it on a closing basis.

The OSX tested higher prices but was rejected by sellers.

The BTK pushed higher into the gap but bearishly settled below the open.

The XAU hit the static trend line and settled lower on the day. The obvious goal has been reached by the bulls and now a close above to break this level would be notable.

The SOX was the last laggard on the day and is a cause for concern to the bulls. Keep a close eye on the midpoint of the trend channel. A close above this line would be the first piece of evidence that a legitimate change in trend is in the works.

Gold posted a very narrow session.

Oil was almost unchanged even after the weekly government inventory data was released.


Stock Picks Recap for 8/31/11

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
Here's a day where we don't officially count the top pick because it triggered in the opening five minutes, but you should have grabbed that as is always the case with any top pick.
From the report, MAKO triggered long (without market support due to opening five minutes) and worked great:

SYMC triggered long (without market support due to opening five minutes) and worked enough for a partial:

ORCL triggered long (without market support due to opening five minutes) and worked great:

In the Messenger, Rich's BIDU triggered short (without market support due to opening five minutes) and worked:

NFLX triggered short (without market support) and worked:

AMZN triggered long (with market support) and worked:

AAPL triggered short (with market support) and worked:

Rich's CF triggered short (with market support) and worked:

Rich's CMG triggered short (with market support) and worked:

GOOG triggered short (with market support) and worked:

In total, that's 5 trades triggering with market support, all 5 of them worked, and more nice winners without market support.


Stock Picks Recap for 8/31/11

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
Here's a day where we don't officially count the top pick because it triggered in the opening five minutes, but you should have grabbed that as is always the case with any top pick.
From the report, MAKO triggered long (without market support due to opening five minutes) and worked great:

SYMC triggered long (without market support due to opening five minutes) and worked enough for a partial:

ORCL triggered long (without market support due to opening five minutes) and worked great:

In the Messenger, Rich's BIDU triggered short (without market support due to opening five minutes) and worked:

NFLX triggered short (without market support) and worked:

AMZN triggered long (with market support) and worked:

AAPL triggered short (with market support) and worked:

Rich's CF triggered short (with market support) and worked:

Rich's CMG triggered short (with market support) and worked:

GOOG triggered short (with market support) and worked:

In total, that's 5 trades triggering with market support, all 5 of them worked, and more nice winners without market support.


Forex Calls Recap for 8/31/11

An incredibly flat session, as we can clearly see in the intraday chart of the US Dollar Index with our market directional tools:

End up with our trades triggering a few times with not much reward until the last one, which I'm carrying over as I write this. See GBPUSD below.
New calls and Chat tonight. One more day after that until the long weekend and summer starts to set behind us.
GBPUSD:
Triggered long at A and stopped. Triggered short at B and stopped. I had put the long back in before I went to bed, this triggered again at C and eventually stopped. Put the short back in in the morning, triggered at D, hit first target at E and holding the other half with a stop over LBreak:


Forex Calls Recap for 8/31/11

An incredibly flat session, as we can clearly see in the intraday chart of the US Dollar Index with our market directional tools:

End up with our trades triggering a few times with not much reward until the last one, which I'm carrying over as I write this. See GBPUSD below.
New calls and Chat tonight. One more day after that until the long weekend and summer starts to set behind us.
GBPUSD:
Triggered long at A and stopped. Triggered short at B and stopped. I had put the long back in before I went to bed, this triggered again at C and eventually stopped. Put the short back in in the morning, triggered at D, hit first target at E and holding the other half with a stop over LBreak:


Forex Calls Recap for 8/30/11

Another nice winner and a decent week so far as we try to wrap up the month, and leave Summer and the August doldrums behind us soon. See GBPUSD below for the trade summary that worked.
Here's the US Dollar Index intraday with market directional lines:

New calls and Chat tonight.
GBPUSD:
First, we stopped out of the second half of the trade from the prior session slightly in the money under the Pivot at A. Then we triggered short at B, hit first target at C, lowered the stop twice in the morning and stopped out at D for about 80 pips of gain:


Stock Picks Recap for 8/30/11

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, JDSU triggered long (without market support due to opening 5 minutes) and worked:

YHOO triggered long (with market support) and worked:

LAMR triggered long (without market support due to opening five minutes) and did not work:

In the Messenger, Rich's FCX triggered long (without market support) and didn't work (worked later):

His RIMM triggered long (without market support due to opening five minutes) and worked great:

NTAP triggered long (with market support) and didn't work:

Rich's FFIV triggered long (with market support) and didn't work:

GOOG triggered short (with market support) and worked:

AMZN triggered short (with market support) and didn't work:

FSLR triggered short (without market support) and didn't work:

BIDU triggered long (with market support) and worked great:

Rich's MCP triggered long (with market support) and worked great:

GS triggered long (with market support) and worked enough for a partial:

In total, that's 8 trades triggering with market support, 5 of them worked, 3 did not.


Stock Picks Recap for 8/29/11

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, DLTR gapped over, no play.
VPHM triggered long (with market support) and worked:

In the Messenger, Rich's QCOM triggered long (with market support) and worked:

His NFLX triggered short (without market support) and worked:

His WYNN triggered long (with market support) and worked:

SINA triggered short (without market support) and didn't work:

Rich's CIEN triggered long (with market support) and worked a little, no risk:

In total, that's 4 trades triggering with market support, all 4 of them worked.


Tradesight Market Preview for 8/31/11

The SP traded a broad range but settled slightly lower on the day. A regression channel has been added to the chart.

The Naz side of the market was actually much more interesting than the SP side. The futures closed up on the day and even tested the 4/8 level. Keep in mind that there are some key moving averages between 2266 and 2283.

Multi sector daily chart:

The 10-day Trin has released most of its oversold energy as it nears the 1.0 baseline. There is still more room for it to travel before it gets overbought at 0.85 or less.

The XAU was the top sector on the day making a new high on the move. Next resistance is the 220.80 static trend line.

The BTK followed through and is approaching the gap window form early August.

The OSX is still in the same range and had relative strength vs. the broad market today.

The SOX did very little and lagged the Naz.

The BKX couldn’t build on yesterday’s gain. The chart is setting a key level at 40.

Oil is trying to push out of the pattern. Resistance areas are the 90 breakdown and then the 50dma.

Gold was higher again and if price exceeds 1850 then a full retest of the high is in the cards.

The NDX currently has relative strength vs. the SPX which is bullish for overall equities.

The OSX is now lagging the underlying oil futures which is usually bearish for crude.

The SOX continues to lag the overall NDX which is generally a bearish condition.