Mohan 21/04/04
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Mohan 21/04/04
Market Force: Bearish/Neutral. Watch for higher opening and early price rise to continue to sell off. A flat to lower opening and early drop should find support and move higher today.
Trade Setup Summary for Tuesday, April 20, 2004:
Trade summary:
S@1138.00/B@1134.00 +4.00
TOTAL: +4.00
Recap of Tuesday's Action:
Good Morning and Welcome to Wednesday's action.
On our Headline Call for Wednesday we were looking for a Bearish/Neutral type Market Force. We saw the early move up sell off which we had specifically mentioned in the Morning Call and made a rare Pre-Opening plan to Sell.
The Sell Market Force was on our side and prices got pushed lower and then the Neutral Force kicked in as you can see on the chart above.
Later due to Greenspan comments about interest rates moving higher the market took one on the chin and got hammered in the last 45 minutes of trading.
Due to Greenspan speaking I had stopped trading for the day after we had made the early short trade. Here are my Wrap Up comments from our Live Service.
"We recommended being ready early for a short trade in the markets.
We had been watching 1138.50 area which was the early pre-market high for a short. After tapping that price half hour into the session we got short showing 1138.00 as or official short.
The market pulled back to the 1133-34 area where our Trailblazer pattern took us out for about a +4pt. profit.
Market traded in a small range the rest of the day between 1132-1135 until the final hour and a half. Once prices dipped below 1130.00, which was the support price from Monday, they fell to 1126.00 which was the previous number from Thursday we had pegged as the price to pull the market out of the Sell Mode.
After they gave that price up in the last HALF HOUR the surprises kicked in to the downside and prices fell all the way to 1113-14 area with the Sell Mode re-emerging powerfully. I had put out a notice that we were done for the day by 2:00 est so we did not participate in the lower move.
Today's Call & Briefing:
Our Headline Call for today is for continued Bearish/Neutral Market Force. If we see the prices OPEN HIGHER AND RISE HIGHER FIRST then we are going to be looking for a bit more downside.
On a lower opening and early drop we are considering that the interest rate hike suggested by the FED is factored into the market and we can look for price stabalization as we look for prices to start rising again soon.
In particular we will be looking for prices to HOLD ABOVE THE OPENING today which would suggest stabalization. If we can see this on a flat to lower opening and an early drop that gets picked up with buying then we should find a footing and start to move higher.
Traders have been sitting on pins and needles waiting for this interest rate hike information and it may be a bit over dramatized now. Let us see.
Watch today for: Lower early action that presses lower and hits the BreakDown Hour One area FIRST. If so we can look to be buyers with a Trailblazer formation right near the Hour One lows.
Any early attempts to rally on a higher opening are going to need to be squashed out a bit more so don't think the bottom is in too early. Wait it out and we can see a more powerful washout of prices in which to buy later in the session.
It will be important to see how the Trailblazer patterns are responding to the lower action and the rallies.
The heavy sell off on Tuesday should get the bears all juiced up with their theories about how bad things are going to be and this will be important to light the fuse for the next dynamite move up into the end of the year. Tuesday April 19 was just typical Greenspan up to his old tricks (see below)
Value Area: 1,126.40 - 1,138.40
We got squashed way below the Value Area and now 1126, which was the "line in the sand" on Friday for the SEll MODE is now Big Resistance to the upper side for today.
Buy Pivot Target: 1,105.75 - 1,106.75
On a LOWER OPENING and early hard drop down to this area we can be looking for a washout in prices with a strong Level 3 move on Trailblazer to get a buy opportunity going.
Watch 1101.50 for big support to come in.
Sell Pivot Target: 1,130.75 - 1,129.75
Not likely they will stretch em up here. Should be a shorting area if they do.
10 Day "Pit Bull" Moving Average: 1,133.60
Man, they resisted the Pit Bull like we expected yesterday when we got in early to go short...but what a slam later in the session.
It was based solely on the Greenspan comments but the Market Force was also there for a good hammering as we had spelled out in our Headline Call in the briefing.
You just never know what those FED guys are going to say or do to move the markets around.
I recall the mega bullish period during the overcooked Internet Stocks phase where Greenspan was just MURDERING the markets with his comments almost daily. It was so obviously a plan. Big, big Wall Street Names were on television calling for Greenspans Head, saying that "he was out to destroy Wall Street". He doesn't give a shoot what anyone thinks. They have their scheme planned no matter what.
How many of you remember April 19 of 2001? That event was what caused me to start my daily Market Calls. A surprise UNNANNOUCED interest rate hike that caused a 100 point S&P500 point range freak out over 2 days.
He did it again this year...SAME EXACT DAY...APRIL 19TH.
If you want to know whats up with this date Email me. I won't say it here on the public forum as most can't handle it.
Pro Trader's Action
Watch out for today to be a neutral day overall especially on a lower opening and early push lower.
If that occurs we should be able to scalp some points heading higher and the same with a higher opening. We just have to see what the trade is moving like and the indicators.
JOIN ME ON THE TCF LIVE UPDATE SERVICE. Everyday I am updating the markets blow by blow on the Trailblazer chart readings, Market Profile/ Value area price resistance-support numbers on the half hour, sequencing the 18 proprietary indicators and monitoring aberrations on the current mode for counter moves. Lots of fun.
Have a great day trading and keep me posted on how you are doing.
All the best, Mohan
Trade Setup Summary for Tuesday, April 20, 2004:
Trade summary:
S@1138.00/B@1134.00 +4.00
TOTAL: +4.00
Recap of Tuesday's Action:
Good Morning and Welcome to Wednesday's action.
On our Headline Call for Wednesday we were looking for a Bearish/Neutral type Market Force. We saw the early move up sell off which we had specifically mentioned in the Morning Call and made a rare Pre-Opening plan to Sell.
The Sell Market Force was on our side and prices got pushed lower and then the Neutral Force kicked in as you can see on the chart above.
Later due to Greenspan comments about interest rates moving higher the market took one on the chin and got hammered in the last 45 minutes of trading.
Due to Greenspan speaking I had stopped trading for the day after we had made the early short trade. Here are my Wrap Up comments from our Live Service.
"We recommended being ready early for a short trade in the markets.
We had been watching 1138.50 area which was the early pre-market high for a short. After tapping that price half hour into the session we got short showing 1138.00 as or official short.
The market pulled back to the 1133-34 area where our Trailblazer pattern took us out for about a +4pt. profit.
Market traded in a small range the rest of the day between 1132-1135 until the final hour and a half. Once prices dipped below 1130.00, which was the support price from Monday, they fell to 1126.00 which was the previous number from Thursday we had pegged as the price to pull the market out of the Sell Mode.
After they gave that price up in the last HALF HOUR the surprises kicked in to the downside and prices fell all the way to 1113-14 area with the Sell Mode re-emerging powerfully. I had put out a notice that we were done for the day by 2:00 est so we did not participate in the lower move.
Today's Call & Briefing:
Our Headline Call for today is for continued Bearish/Neutral Market Force. If we see the prices OPEN HIGHER AND RISE HIGHER FIRST then we are going to be looking for a bit more downside.
On a lower opening and early drop we are considering that the interest rate hike suggested by the FED is factored into the market and we can look for price stabalization as we look for prices to start rising again soon.
In particular we will be looking for prices to HOLD ABOVE THE OPENING today which would suggest stabalization. If we can see this on a flat to lower opening and an early drop that gets picked up with buying then we should find a footing and start to move higher.
Traders have been sitting on pins and needles waiting for this interest rate hike information and it may be a bit over dramatized now. Let us see.
Watch today for: Lower early action that presses lower and hits the BreakDown Hour One area FIRST. If so we can look to be buyers with a Trailblazer formation right near the Hour One lows.
Any early attempts to rally on a higher opening are going to need to be squashed out a bit more so don't think the bottom is in too early. Wait it out and we can see a more powerful washout of prices in which to buy later in the session.
It will be important to see how the Trailblazer patterns are responding to the lower action and the rallies.
The heavy sell off on Tuesday should get the bears all juiced up with their theories about how bad things are going to be and this will be important to light the fuse for the next dynamite move up into the end of the year. Tuesday April 19 was just typical Greenspan up to his old tricks (see below)
Value Area: 1,126.40 - 1,138.40
We got squashed way below the Value Area and now 1126, which was the "line in the sand" on Friday for the SEll MODE is now Big Resistance to the upper side for today.
Buy Pivot Target: 1,105.75 - 1,106.75
On a LOWER OPENING and early hard drop down to this area we can be looking for a washout in prices with a strong Level 3 move on Trailblazer to get a buy opportunity going.
Watch 1101.50 for big support to come in.
Sell Pivot Target: 1,130.75 - 1,129.75
Not likely they will stretch em up here. Should be a shorting area if they do.
10 Day "Pit Bull" Moving Average: 1,133.60
Man, they resisted the Pit Bull like we expected yesterday when we got in early to go short...but what a slam later in the session.
It was based solely on the Greenspan comments but the Market Force was also there for a good hammering as we had spelled out in our Headline Call in the briefing.
You just never know what those FED guys are going to say or do to move the markets around.
I recall the mega bullish period during the overcooked Internet Stocks phase where Greenspan was just MURDERING the markets with his comments almost daily. It was so obviously a plan. Big, big Wall Street Names were on television calling for Greenspans Head, saying that "he was out to destroy Wall Street". He doesn't give a shoot what anyone thinks. They have their scheme planned no matter what.
How many of you remember April 19 of 2001? That event was what caused me to start my daily Market Calls. A surprise UNNANNOUCED interest rate hike that caused a 100 point S&P500 point range freak out over 2 days.
He did it again this year...SAME EXACT DAY...APRIL 19TH.
If you want to know whats up with this date Email me. I won't say it here on the public forum as most can't handle it.
Pro Trader's Action
Watch out for today to be a neutral day overall especially on a lower opening and early push lower.
If that occurs we should be able to scalp some points heading higher and the same with a higher opening. We just have to see what the trade is moving like and the indicators.
JOIN ME ON THE TCF LIVE UPDATE SERVICE. Everyday I am updating the markets blow by blow on the Trailblazer chart readings, Market Profile/ Value area price resistance-support numbers on the half hour, sequencing the 18 proprietary indicators and monitoring aberrations on the current mode for counter moves. Lots of fun.
Have a great day trading and keep me posted on how you are doing.
All the best, Mohan
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Abraço,
Dwer
There is a difference between knowing the path and walking the path
Dwer
There is a difference between knowing the path and walking the path
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