Oeiras é onde os rendimentos são mais elevados. Disparidade salarial mantém-se na Grande Lisboa

[Dwer]

Market Force: Bearish/Neutral. Market is bearish holding below 1131.50 and neutral above. We expect rallies to keep getting sold into.

Trade Setup Summary for Monday, June 14, 2004:
S@1127.00/B@1125.50 +1.50 pts.

Recap of Monday's Action:
Good Morning and Welcome to Tuesday's action.

On Monday our Headline Call was looking for the market to push higher off the open and then pullback later in the session.

We were wrong on the early rally as we were expecting a little post holiday bullishness which was not to be found at all on Monday.

The market gapped -5.00 handles lower in a very bearish move with the High 5 going very Ugly after the first hour of trading.

I had identified the Bearish Market Force and saw the opportunity to go short into the Mega Bearish tape around 1127.00 which was right near the first hour low.

Prices slowly drifted lower all day and although it was a low pressure day with no heat at all on our entry price or stop still it took all day to get em down towards our goal of 1121-22.00.

We patiently waited until the last 40 minutes of trading when the market finally started moving substantially lower. I had been commenting on our live service about being prepared to cover any time near the 1121.00 area.

Prices just barely tapped on tick below 1122.00 and started to push higher. It was one of those slow grind higher moves that you stay short looking for a further drop but 2-3 pts. higher you realize they are stabalizing into the close and the bottom was put in.

That was exactly what happened to us today and I had to just give the signal to get out above 1125.00 so we could preserve a little profit.

We held out with the right plan and everything but it was one of those rather testy days where we just missed our price. Very often on these type of days (and our experienced Live Update traders have seen this already) you are caught between holding out and not wanting to "Miss" those few extra points on your side of the market yet not give back any profits acheived.

Some days you hold out and it pays you and others you have to pay a little back. Monday was such a day where we coughed up a little profit in the name of holding out for as much as we could get.

The market did not give us much in the way of hints today as to direction either. We did not get a big rally in our face into the close NOR did we get a hard hammering lower beneath our goals.

Here is the way we expect to trade em today.

Today's Call & Briefing:
Watch for some early strength and higher prices to come in near the open today to CONFIRM the downside still being intact.

If we do get a higher open and early run up it can benefit our case for shorting again today.

If we get a down move early on a flat to lower opening then we could be coming into some support early.

We want to be willing to trade both sides of the action today depending on how the market opens.

WATCH FOR TODAY: If the market opens higher and runs up early in the session then we will be preparing to go short above the first hour Highs. Watch the Nasdaq composite index to be sure it is not too strong over +15 and the TRIN not below .70 and we should be able to short a BreakOut attempt.

There was some buzz today about Nasdaq moving below it's 50 day moving average near 1970.00 so watch that number for hints too. Moving higher but pressing back below this area is a popular idea right now that this is a bearish sign.

If we drop lower FIRST today and run lower off the open then we would expect support to come in and we would look to be buyers BELOW the Hour One low. Watch for a bearish High 5 that shows improvement as the day progresses.. We will try and get the best deal on a lower early move by using our Trailblazer pattern recognition system.

Value Area: 1,125.10 - 1,130.50
Trade holding below the bottom of the VA is bearish. 1130 should provide some kind of resistance or just above that at 1131.50 is a very significant number as mentioned in the Headline Call.

Buy Pivot Target: 1,121.00 - 1,122.00
This lower price zone still remains unfufilled with 1119.50 expected to come into play. Below this is the -4.25 stop/pivot at 1116.75 support.

First main goal lower if we stay in the Sell Mode (which is confirmed with prices holding below 1138.00) is 1102.00.

Sell Pivot Target: 1,130.75 - 1,129.75
Above this is 1135.00 which should cap off any buying to the upside. We want to look for a short position on a higher opening and early run up above 1130.00 after the first hour. Compare this price area with the BreakOut Hour One High and adding in the 1135.00 we should have a zone to sell in. Above that 1138.00 is expected to hold prices back if we are to remain in the Sell Mode we are in (expected).

10 Day "Pit Bull" Moving Average: 1,128.10
Holding below the Pit Bull is bearish. If we get a lower opening and early lower run today below 1120.00 (not expected) then this 1128.00 could become resistance.

I am expecting that they will run up higher first today.

Pro Trader's Action
What we are overall looking for in our approach to the markets today is for the Sell Mode to continue after some early attempts to push higher. We would want to let that action play out early and then pick our spot to go short after watching the resistance up on the numbers described above.

If correct we should start pulling back again after an early attempt to move higher and maybe get a little more serious to the downside.

There are 2 important reports coming out...CPI and PPI (expected for release today) and many traders are going to make decisions based on these. Watch for the results and then compare that with the strategy we are suggesting to overlay on the market movements. I expect we will end up short if we get the higher open and early run up as a result of these reports.

Good Luck and I'll see you in the action. Mohan