Tradesight Market Preview for 2/1/12

The ES closes marginally lower on the day to finish the month just above the 10ema. Today’s candle was a CPS downside alert where price should take out Tuesday’s low before high. Note that the MACD has gone negative.

The NQ futures finished the month higher on the day by 2 handles which is positive but the close was well below the open leaving a camouflage sell signal on the chart. Keep a close eye on the MACD for a bearish cross.

Multi sector daily chart:

The SOX continues to lag the overall NDX which is historically a bearish condition. In addition to this generalization is that the chart of the cross pair has a bearish expanding pattern in the works.

The BKX was the top gun on the day, posting tiny range candle on the chart. Price remains trapped and awaiting a definitive resolution.

The BTK did nothing on the day and is still sporting a 13 exhaustion signal.

The SOX closed almost unchanged and looks poised for more downside.

The OSX is 9 bars up in the seeker count and the pattern is totally wound up with power. Be ready.

Oil was the notable commodity Tuesday. Early in the session, price was higher by as much as $2 before reversing and breaking a full $4 to the downside.

Gold:


Tradesight Market Preview for 2/1/12

The ES closes marginally lower on the day to finish the month just above the 10ema. Today’s candle was a CPS downside alert where price should take out Tuesday’s low before high. Note that the MACD has gone negative.

The NQ futures finished the month higher on the day by 2 handles which is positive but the close was well below the open leaving a camouflage sell signal on the chart. Keep a close eye on the MACD for a bearish cross.

Multi sector daily chart:

The SOX continues to lag the overall NDX which is historically a bearish condition. In addition to this generalization is that the chart of the cross pair has a bearish expanding pattern in the works.

The BKX was the top gun on the day, posting tiny range candle on the chart. Price remains trapped and awaiting a definitive resolution.

The BTK did nothing on the day and is still sporting a 13 exhaustion signal.

The SOX closed almost unchanged and looks poised for more downside.

The OSX is 9 bars up in the seeker count and the pattern is totally wound up with power. Be ready.

Oil was the notable commodity Tuesday. Early in the session, price was higher by as much as $2 before reversing and breaking a full $4 to the downside.

Gold:


Stock Picks Recap for 1/31/12

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, MDCO triggered long (without market support) and worked:

In the Messenger, GS triggered short (with market support) and worked:

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

NFLX triggered short (with market support) and worked great:

Rich's X triggered long (without market support) and didn't work:

In total, that's 3 trades triggering with market support, 2 of them worked, 1 did not.


Forex Calls Recap for 1/31/12

Two more winners, with one still going as I write this. See EURUSD below.
Here's the US Dollar Index intraday with market directional lines:

New calls and Chat tonight.
EURUSD:
Triggered long at A, hit first target (exactly 50 pips) at B, raised stop in the morning and stopped at C. Triggered short at D, hit first target at E, currently holding second half short with a stop over VAL:


Tradesight Market Preview for 1/31/12

The ES recovered a large gap down to settle lower by only 4 handles on the day. There was much better performance in the NQ side and there will be more on this divergence below. There were a few key technical features. Price settled above the 10ema keeping the trend short-term positive and price settled above the open even though it was lower vs. Friday’s close which makes for a camouflage buy condition.

The NQ futures were higher on the day by 5 handles and actually recorded a new high close on the move. Expect a continuation to target the 8/8 level at 2500.

The 10-day Trin still has energy available in the tank before it records an overbought reading.

Multi sector daily chart:

The chart below is the NDX/SPX which yields a ratio. This gives technicians a relative strength gauge of one asset class vs. another. Since the NDX is on the top of the equation or the “numerator” this is the value being evaluated so increasing values are show relative strength and lower reading show weakness. Currently, the NDX is bullishly showing strength vs. the broad market SPX and has been doing so far in 2012.

The BTK was the top sector on the day and is still sporting a Seeker exhaustion signal.

The OSX remains boxed up and consolidating below the 200dma with the Seeker now 9 day up.

The BKX was the anchor on the broad market today with the MACD about ready to release its influence on price.

The SOX was the weaker than the broad market and also the NDX. Price is in an up channel but could easily pull back to the midpoint. Watch out for a MACD cross.

Gold is holding its DTL breakout but has yet to add on or gain momentum.

Oil continues sideways;


Stock Calls Recap for 1/30/12

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, CSTR triggered long (with market support) and worked:

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

His AMZN triggered short (with market support) and worked:

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

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

NTES triggered long (with market support) and worked enough for a partial, and I also called the top in the room late in the day as the high bar was a 13-sell signal on the Comber:

In total, that's 5 trades triggering with market support, all 5 of them worked.


Forex Calls Recap for 1/30/12

Nice winner to start the week, see EURUSD below.
New calls and Chat tonight as we head into the last trading day of January.
Here's the US Dollar Index intraday with market directional lines:

EURUSD:
Triggered short at A, hit first target cleanly at B, lowered stop over S1 in the morning and stopped at C:


Stock Picks Recap for 1/27/12

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, AMLN triggered long (without market support due to opening five minutes) and didn't do much either way, but got halted midday on good news and gapped up nicely in the aftermarket:

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

In the Messenger, AMZN triggered long (without market support due to opening five minutes) and worked great:

Rich's ADBE triggered long (without market support due to opening five minutes) and worked:

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

GOOG triggered long (without market support) and worked:

Rich's AMGN triggered long (without market support) and worked:

NFLX triggered long (with market support) and worked:

Rich's LNKD triggered short (with market support) and didn't work:

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

In total, that's 5 trades triggering with market support, 4 of them worked, 1 did not.


Stock Picks Recap for 1/27/12

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, AMLN triggered long (without market support due to opening five minutes) and didn't do much either way, but got halted midday on good news and gapped up nicely in the aftermarket:

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

In the Messenger, AMZN triggered long (without market support due to opening five minutes) and worked great:

Rich's ADBE triggered long (without market support due to opening five minutes) and worked:

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

GOOG triggered long (without market support) and worked:

Rich's AMGN triggered long (without market support) and worked:

NFLX triggered long (with market support) and worked:

Rich's LNKD triggered short (with market support) and didn't work:

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

In total, that's 5 trades triggering with market support, 4 of them worked, 1 did not.


Forex Calls Recap for 1/27/12

A half-sized overnight session with a trigger on the EURUSD and then full-sized triggers on EURUSD and GBPUSD in the morning to close out what was mostly a boring, sub-average range week in Forex.
Here's the US Dollar Index intraday with our market directional lines:

As usual on the Sunday report, we will look at the action from Thursday night/Friday, then look at the daily charts heading into the new week (there is a LOT to see, read below); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES and then glance at the US Dollar Index, where there is also some key information.
A few weeks ago, we began including the daily charts with both the Seeker and Comber tools overlaid on the Sunday reports. This weekend is a key example of why we do that, as the EURUSD, GBPUSD, USDCAD, USDCHF, NZDUSD, AUDUSD, and EURJPY all completed 9-bar setup phases on Friday. This can mean short term reversals on each, but it also means that we now have active Seeker counts and Comber counts. While the Seeker counts start from here, the Comber counts are retroactively counted from the start of the 9-bar setups, so we could potentially get to some 13's there quickly. See way below for details and we will monitor this in the coming two weeks.
EURUSD:
Triggered long at A overnight (half size ahead of GDP) and came within 3 three pips of first target at B, so should have gotten a piece off under our order staggering rules. The rest stopped. Re-entered after GDP, triggered long at C, hit first target at D, closed final piece at tri-star level at E for just under 60 pips:

The rest of the report and market analysis is for subscribers only.