Mega plano orçamental foi promulgado por Trump

[Dwer]

Keep selling any rallies in these tight range days. Next week we should be seeing more variation of trade between the Bulls and Bears.

Trade Setup Summary for Thursday, January 8, 2004:
Sell at 1128.75/ Cover at Break even as the market pulls back later in the session but once again fails to continue lower.

Recap of Thursday's Action:
Greetings and good morning to all!

I get a kick out of how when markets get stuck in a bullish mode around the holidays so many traders start thinking that "everything has changed" and that "the markets are different now". They get emotionally confused and upset with the current environment. Some have called my latest briefings "Bearish" which is really amazing. The Headline Calls I've done this week were looking for higher prices first with a caution for a mid day pullback which I hope doesn't make me a "Bear".

All I know is that I have been on vacation most of December and before I left said I was expecting higher prices up to New Years and beyond by as much as a year. We have had just 3 Morning Call Breifings this year so far and 2 have called for HIGHER PRICES with intraday PULLBACKS (not Bearishness) BASED ON CERTAIN CRITERIA. This has been occuring although we have not had any significant pullback beyond 4-5 points. Our average range so far this year is a bit over 10 handles which is improving some and that is good.

Lately the markets keep reacting with prices moving higher into the close on any mid day pullbacks. This can be considered "frustrating" for us Intra Day Traders as WE NEED RANGE AND VOLATILITY to have our business.

BUT THIS IS ONLY THE FIRST WEEK BACK FROM THE NEW YEARS HOLIDAY.

I can't figure out why S&P500 traders can be so impatient and irrational sometimes. I have seen this EXACT type of strait up bullish scenario during many December Holiday periods during the last 12 year's I've been trading. It's actually NORMAL.

Now these ranges....Oh these damn tight ranges are a problem. As stated we need 2 basic things from the market for our S&P500 business, this is a quiz..what are those 2 things? REPEAT.

They will come again...Volatility and Range. Soon I hope too, but "frustrated"? No! Why? It's just part of the business often at this time of the year.

Let's be a bit more cautious. Watch and wait for the Exact TCF setups and even be willing to stand aside today and see HOW the market reacts to the setups and see if we can get the bulls and bears playing tug of war soon.

But don't get frustrated. This is normal. Life is too short to get frustrated. Good times to trade are coming soon. Hope you are long some stocks from a few months ago. I sure am...a ton. That helps make the wait a bit easier.

Today's Call & Briefing:
Our Headline Call today will continue to look for higher, early prices with our goal of hitting the higher prices on the short side with a correct TCF setup. That could be watching for the reaction around the Sell pivot target as we did on Thursday combined with the BreakOut.

THE KEY WILL BE TO SEE IF PRICES CAN HOLD BELOW 1128.75. If this can be accomplished then are are going to see things start to pullback.

If we can crack here then our first goal lower on a short term scale will be the 1100 handle. We would first look to crack 1129.00, then 1125.50 which was strong support on Thursday and is the close from Wednesday. Punching below that you get the 1118.00 area as support and then the Pit Bull hovering in the 1112-13 zone with fluctuations over the next few days. Busting through the Pit Bull number should take us down to that 1100 handle as the bulls throw in the towel.

This is NOT A CALL FOR TODAY and this line up of lower goal numbers does not make me a "Bear". It is simply a directional pullback scenario if we can hold below 1128.70.

Even if we get some kind of intraday pullback we are expecting today to be more of a neutral type consolidation day with Monday/Tuesday giving us more downside if things can hold below 1128.70.

FOR TODAY'S ACTION:

Look to Sell the BreakOut again if that occurs as the first Hour One pivot but BE CAREFUL that it is not a Bullish BreakOut buy for one more thrust up. Watch NAZ especially (NAZ=Our nickname for the Nasdaq composite index) and if trading over +13 use caution shorting as markets will only pullback slightly with High NAZ.

If we hit the BreakDown first but it is NOT a Bear Ugly day then be careful buying unless the High Five are in decent shape. Super High TRIN above 1.10 and VIX up could push the markets lower.

Again, NEXT WEEK we are officially out of the Holiday period at least from a trading point of view and should see more rock and roll action. Let's hope so at least.

Value Area: 1,126.10 - 1,129.50
Watch for this important support and resistance area today. Below the VA is bearish.

Buy Pivot Target: 1,125.25 - 1,126.25
No trade at this pivot today. Let's finish out this week without using directly the Buy/Sell Pivots.

We traded the Sell Pivot later in the session on Thursday but it was also the same as the BreakOut so it was a double resistance move combined with a double Trident Trailblazer signal. Still some clown put on a buy program into the close to perpetuate the Myth.

Sell Pivot Target: 1,131.75 - 1,130.75
No trade at this target today. It is very tempting and if correlated with the Breakout again today may try and hit em here for a short.

Let's let this final holiday week close out and next week we should be getting more solid market action.

10 Day "Pit Bull" Moving Average: 1,111.80
Pit Bull is moving higher and we expect soon we will come face to face with it again in a Crossover Alert. Keep buying larger drops above this number.

Pro Trader's Action
Well, the week after holiday proved to be a bit challenging with the ranges still tight (but opening some at least) and just the slow, gradual upmoves that have kept many market players frozen out of the long side. This is usually how true bullish periods move up. They are structured so that there is a continous supply of bearish doubters who seem to think that each move higher is the top and "just can't get in here near this top". All of this only to find the Dow 1000 bucks higher a month later or so.

We are preparing for a slight pullback which will start with the markets opening higher, running higher, selling off some, and closing lower. That will break the chain...Could be today. Are you ready?

I'll see you in the action if we get any. Mohan