Green Light

We hit the 50% half back short.  Keep an eye on this for next week.

Green Light

Getting a hesitation today.  But we are still a green light.  Look for a Fib bounce at 210.49 or second shot at 208.17. OBV is flat, so don't expect a lot today unless we get news.

No stock picks today. Waiting for the market to turn up on the short term.

Green Light

We could not break the half back short on the 15 min today.  Heads up for possibly lower.

Green Light

The bar on 12-18 is a real trade so we must consider using it in our Fibs.  Some times you get fake bars from data corruptions.  Not this one.  So you can see we did get a 50% retracement close to the 197.46 and now we are moving higher.  Look for a double top at 213.98 and wait and see what the market will do.  It can reverse and go down, sideways or break back test and move higher.

Watch list today: MELI, MWE.  Looking for a pull back for an entry.

Green Light

Once we hit or break the 213 we will look for a pull back to the 50% Fib, around 205.41 (to be determined when we get the pull back) with a target of 220.33 on the SPY.  I will get long at that time.

Green Light

I'm back in the office.  Looks like we had a nice grind up last week.  Looks like it will continue this week.  It will take me a few days to get a feel for the markets sentiment. If you missed the up you can wait for the pull back to the 207.68 before entering.  Today I will be looking for longs in JWN and LPNT.

Green light

I will be out of the office next week.  So be careful of this market.  This market is weak and looking in trouble.  We have been going sideways for months now.  Don't expect it to change over the next week.  Keep your stops close and take profits fast.  If we drop below the trend line we will move to a red light.  If the gap fills, look for a bounce or a retest to get in long.  If it breaks the bottom of the gap look for a short to the major support line (blue box) and the 200 EMA (red line). Look for a bounce their.  If that breaks, we will go down, possibly very fast.

Green Light

Today you had a second chance to get in today on the pull back.  The EU has put off the decision to deal with Greece for now. So we go up.  Volume is a little low, so keep your stop close.  One day of bad news and the market will drop like a rock.

Green Light

This is the official back test of the trend line.  I'm getting a little longer today.  75% of all stocks reported and 85% met or beat earnings.  Good news, although the bar has dropped for earnings.

ES Futures are up 15 pts this morning.  Power coming into the market.

Green Light

Bad news in EU today.  Pushing market down.  I'm light in the market.  Not sure I trust this up move very much.  Selling a lot to option premium this week.  Its a defencive move with fast income.

Look for a possible pull back to the 50% at 202  Just something to watch.

GREEN LIGHT!

We back tested the line so we are green to go.  Never filled the full gap, we just did a half gap fill.

Market is still looking a little weak so go in slowly.

Yellow Light

We poked our head past the line and ran the other way.  This is a tombstone doji.  A negative bar.  No one want to jump into the market.  So if you're smart you're sitting on the side or just holding on to what you have.

These are the hardest markets to trade.  We may head down tomorrow to fill the gap.

Yellow light

Not much conviction in the markets today.  We popped out above the line twice today and it did not take off to the up side.  We did, however, pull back to the 50%.  I thought it would take off from their but didn't.  Weak market.  No one want to buy this market here.  They are just holding on to what they have.  Time will give us a clue.

Yellow Light

We went up and tagged the upper trend line this morning.  I'm just sitting and waiting for the market.  Market is resting today from the last 2 days of moving up.  Still not sure the direction. Short term momentum is up but we are official sideways for now.  Did get some Ford today "F" with a stop below the gap.

Ford

Yellow Light

We broke the 61.8 with a trend line just over head.  I will go long if we a break the trend line, back test the trend line and move higher to make a higher high.  We did fill the gap and that was the time to take a risky trade for a long.  I tried but did not get filled.  Bummer!

We may also have chance to get long at the 203.48 again tomorrow.  All the big boys and girls that missed this move will want a pull back so they can get in as well, at the green arrow.  But at that time you will have to make a decision to go long or not if we do not break the upper trend line.  We may go sideways.

Yellow Light

We do have a gap to fill sometime.

Yellow Light

We broke the minor 61.8 but the All The Way Half Way Back (ATWHWB) is the stronger residence. Still waiting to enter.  I am playing futures short term for some cash.  Market had good news today but this may be short lived. If we break the 204.70 I will start to go long again.  We are still in a large sideways market.  We could go to the top of the range but not until we break the ATWHWB.

Yellow Light

We got a pop over night.  We will have to see if it will hold for the day.

Yellow Light

Well we hit the 50% by the end of the day.  This may be a reversal to the up side.  Did not take a short because it was the end of the day and the 60 minute is looking to the up side.  Still sitting and waiting.  It may take a few more days to work itself out.  If we get above the 203.31, I will start looking long but working my self in slowly.

Here is the 60 minute. It popped at the end of the day and everything is over solded. We have a divergence on the Ergo and Sto to the up side.  OBV is moving up as well.

Yellow Light

We are getting a bounce off the bottom at 197.81.  Everything is looking weak.  I will take a short at the 50% (202.03) if the market still looks weak when it hits it.  I will wait for the turn before I go short. It may just blast past it and keep going,  This will be a riskier trade. We are still going sideways and not breaking a new higher high or a new lower low.  Most indicators are showing down for now.

Yellow Light

Bonds are falling off.  Maybe we will get a pop in the markets today.  This may be a slow week.  Waiting for the market to tell me what way it is going.

Sometimes you have to wait.  Waiting is better then taking a high risk trade and loosing money.