Greve alargada a mais três setores e contratos a prazo a três anos

[Dwer]

Market Force: Bearish/Neutral Market expected to move higher early today and sell off later in the session.

Trade Setup Summary for Thursday, June 10, 2004:
No Trades on Friday due to Reagan Memorial.

Recap of Thursday's Action:
Good Morning.

Hope you had a nice weekend. This week should be very interesting as we are expecting to get a definitive estimate of the situation as far as the market moving higher throwing the current Sell Mode we are preparing to enter into aberration OR we will start the gradaual erosion back below the Pit Bull towards 1112.00.

Today should give us important clues for that.

Today's Call & Briefing:
Our Market Force readings are Bearish/Neutral meaning we are expecting a move up in the early session and we expect to see prices fizzle out later in the session.

The neutral reading is there because there is a chance we could actually have a strong BreakOut rally although that is NOT expected. Still my 18 proprietary indicators suggest it could happen so that creates the neutral reading alongside of the Bearish Force.

At this point the most likely scenario is to see the rallies get hit with selling and slow erosion lower similar to what we saw on Wednesday's action. If we see this starting to occur we expect it to start a Sell Mode that could last for a short period.

Right now though I can feel in the price action and the way the Market Force indicators are moving that there is going to be some good volatility coming up this week.

WATCH FOR TODAY: I am expecting the Hour One highs to get hit first today and if that is the case it will be a bit tricky. Why? Because we will be watching to determine if the market hitting BreakOut will be a fade or a strong BreakOut. We can look at the High 5 to determine that. If Nasdaq is really strong being +15 or more then we could get a bullish B/O. Watch for TRIN below .70 to confirm NAZ strength and lower VXO.

If we hit the BreakDown first then we have to take a strong look at the indicators to see if we are going to BreakDown lower all day or push up from there. THE KEY WILL BE TO SEE IF THE BREAKDOWN OCCURS BELOW 1132.00. Prices holding below 1132.00 is a bearish sign. If the opening is Above 1132.00 then holding below the open down to 1132.00 is a neutral zone with the confirmation of Bearish Market Force coming in with prices holding below 1132.00.

Value Area: 1,133.50 - 1,135.50
This important 1132.00 number is just below the VA which helps confirm what I am discussing above. Watch this for additional confirmation.

Buy Pivot Target: 1,133.75 - 1,134.75
Although these numbers are all tightly stitched together due to the small 3.80 range on Thursday still look for trade below 1132-33 to be Bearish.

Sell Pivot Target: 1,137.50 - 1,136.50
Sell Pivot +4.25 is 1141.75 which is right at our good ol' resistance from back in April when we broke down. Here we have this number coming back into play last week as resistance and again today.

So right now, once again, 1142.00 becomes an important resistance number or support for moving higher if we blow through this price area to the upside.

10 Day "Pit Bull" Moving Average: 1,127.80
If we move below the 1132.00 number then we can expect CROSSOVER to occur soon on the Pit Bull. If this occurs and we approach this number, which is expected, then we could blow throght the Pit Bull to the downside stretching for 1121.00 to start. If this occurs I will be updating you of course on the goal lower numbers.

If the Sell Mode confirms as I am expecting then we would retrace to the 1102 area as a first major goal lower where support would be expected. These numbers can change though so I will keep you updated.

Pro Trader's Action
Overall I am expecting the Sell Mode to start soon with a larger down day.

If that occurs on Monday or Tuesday then things should slide pretty quick if we Crossover the Pit Bull.

If we find volume slowing and support coming in on fast, dramatic drops to the 1125-27.00 area then we may find support and a continuous move higher which refuses to let the Sell Mode fully kick in.

As a professional trader and analyst of my 18 proprietary indicators I am Open enough to alert you when we are in a situation like we are. Sometimes the Market Force is very clearly headed in one direction (the short term underlying) and I state that. This time I am being very open about what could happen and what the scenario would look like to throw the Sell Mode into aberration.

For today let's mainly watch to see if we hit the Hour One BreakOut as the first pivot today. We can compare that with the opening price and the High 5 to try and determine if we are going to BreakOut higher or the B/O will fizzle out later in the session.

If they hit the B/D today then there is a good chance the market is going to head lower with any rally attempts getting shoved back lower.

I'll be updating traders in our New Live Intraday Service and if you haven't already...JOIN US FOR A FREE ONE WEEK TRIAL.

Those who signed up last week for a Free trial ...call the office and ask them for another week Free trial as last week was very light on trading.

Let's have some fun this week and make some S&P500 points! Good Luck, Mohan