Wall Street fecha semana em alta. S&P 500 e Nasdaq atingem recorde

[Dwer]

Look to Sell Rallies on a higher open and early push up in prices.

Recap of Friday's Action:
Good Morning and thank you for joining us today. Hope you had a nice weekend and are ready for some range expansion this week.

Our Headline Call on Friday was for higher prices which we expected to sell off mid session. We had the BreakOut occur at 12:38est at 1035.75 and after a small push higher without much pressure on the stop we saw prices pull back and give up as much as 10 handles. We had recommended selling the BreakOut and congratulations to those of you who got short. It was a patient wait until later in the session but certainly worth the wait.

This sets up our Headline Call for today in which we are expecting the rising prices to begin to crumble.

Today's Call & Briefing:
First off I want to thank all our wonderful guest traders who atttended the 21st Century Futures Seminar we had in San Diego. I was honored to meet with so many of you and really admire your great interest in our work. The research you have done in reading and trading with our briefings will be richly rewarded.

Today could be a crucial day in the markets. We are expecting that a higher opening above 1028.50 and an early move up in prices could see a large reversal to the downside. So be prepared for this. We are going to be on the lookout for a possibility of an early selloff off the open. If this occurs it could "throw water" on our call for a selloff into the close. The speed and strength of the move will determine this.

Although not expected be on the lookout also for the possibility of a Bear Ugly market setup. Watch for some strong, bad news which shakes the markets to confirm this setup.

Value Area: 1,030.00 - 1,035.60
This is a very vital area today in the fufillment of our call for lower prices off a higher opening and early push up. Trade below 1030.00 is bearish and trade above the 1035.60 which falls back into the VA is a bearish sign.

Buy Pivot Target: 1,023.75 - 1,024.75
No trade at this pivot today. Look to monitor the B/D first and compare with this pivot target.

Sell Pivot Target: 1,035.50 - 1,034.50
Let's go ahead and sell the sell pivot and use a 5 pt. stop above 1035.50 or 1040.50. Look for a fast sell off if we hit this pivot on a higher open and early rally off the open up to this price. Good luck and let's hope we get this action as it is a high confidence trade. Please note that this price is also right at the top of the Value Area giving extra resistance to this price area.

10 Day "Pit Bull" Moving Average: 1,010.90
We are still quite a distance above this pivot but If we get the selloff expected it could bring us within a short distance of this price today. The first level of support is 1016.00 below the Buy Pivot Target.

Pro Trader's Action
An abbreviated Morning Call today as I recoup a bit from the 2 day seminar we just had in San Diego. The message is clear for today that we want to be on the Sell side of the market especially on a higher open and early run up.

Good Luck and all the best of success. Mohan