From webcast Monday: Re long side of the market >>If you are a longer term trader or swing trader I would wait for bulls to auction price back above 872<< Yesterday SP500 emini probed onto that poc and has found resistance – this has been the controlling price for a while now – be cautious […]
ES up from open – resistance zone at 838 to 840
from eBook earlir this week >>Be extremely cautious of this market right now. All the major charts we follow are currently in a weak price location. Do not be long unless charts trade back above those POC levels. This may not happen. It is quite possible that the high earlier this month was the end […]
Caution: Weak price location
Chartprofit Webcast – Charts to Friday 16th January 09 *********** PRICE PERFORMANCE Low last week was below the low of the previous five weeks. Within two weeks the sellers had negated all the gains of the previous four weeks. *********** PRICE LOCATION In the webcast today I show all the major stock index […]
Rally may have run out of fuel
From the eBook on Monday >>some of the sentiment measures are at levels that would indicate over-enthusiasm. If this is still Bear Market then that would be a problem, i.e. investors getting complacent…e.g. The 10dyma of the OCC option calls% is at its highest level since the bear market began and the VIX just hit […]