Mohan 19/04/04
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Re: Mohan 19/04/04
Trade below 1130.00 should show some weakness with support today with a NEUTRAL CLOSE. If such a scenario unfolds then we should see a larger scale UP MOVE on Tuesday. There is a very strong chance of this occuring.
This type of setup however would not preclude us making some good money on the long side today on a lower move to the BreakDown or catching some more BreakOut to the upside with the correct Trailblazer formations.
yep
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- Mensagens: 743
- Registado: 7/11/2002 19:47
Mohan 19/04/04
Market Force: Bullish. Market expected to move higher today with good chance for significant move higher soon.
Trade Setup Summary for Friday, April 16, 2004:
No Headline Call due to Options Expiration on Friday and no live trade updates.
Recap of Friday's Action:
Good Morning and welcome to Monday's Action.
On Friday we had the Options Expiration and therefore no Headline Call and no Live Trade Updates which is our tradition to not trade on option expirations.
We did offer a Buy side bias since the trade closed in near the 1126.00 price which we expected would put the Sell Mode we have been in into an Aberration.
YOU CAN SEE THE RESULTS ON FRIDAY. We have now officially entered an Aberration on the Sell Mode and as such are expecting a significantly higher move in the markets. More details below.
Today's Call & Briefing:
We are full on bullish now at least for the next few days and maybe longer now that the Sell Mode has entered into an aberration.
Thursday gave us strong hints of going into an aberration and to look for higher prices. We put out the call for a buy bias on Friday due to this and the price action confirmed the AB.
Now we are expecting that the market will make a move higher which could be significant from here.
Our first goal up will be for prices to Cross over the Pit Bull to the upside (today at the 1138 area) and then make it to 1142-44.
Above this we feel we could head up to the 1155 area which would surprise a lot of the confirmed Bears.
The key for today will be to see the prices HOLDING ABOVE 1130.00 to confirm a higher move today.
We would ideally want to see A LOWER OPEN AND A LOWER EARLY MOVE today to assist the bullish Market Force.
Now keep in mind that if there is some significant bad news and the High Five go Bear Ugly on us then the call is wrong and we should be careful trying to Buy. However, I expect we will see the upward goals mentioned above very soon and possibly today.
The real key to the higher prices will be on Tuesday and Wednesday's reaction to a rally that occurs today on Monday.
ACTION TO LOOK FOR TODAY: We want to be looking IDEALLY for the BreakDown on the Hour One pivots in order to get long.
If we hit the BreakOut FIRST then we will really need to exercise caution and be sure the High Five are going to support getting long as we did have some decent upside on Friday and want to confirm the higher action. This will be especially important if the Hour One BreakOut is hit AFTER an early rally...IE: the Dow and NAZ have already significantly rallied at the time of the BreakOut.
If we see the Dow up over +70 and NAZ up +15 or less just be a bit cautious about getting to convinced on the long side for Monday. After some pullback we can get aboard for extra strength on Tuesday with a setup like this.
Value Area: 1,130.80 - 1,135.00
The Value Area is showing the Highs on Friday contained within the top of Value so it will be significant for the bullish side if we can move above AND HOLD ABOVE 1135.00 TODAY.
Trade below 1130.00 should show some weakness with support today with a NEUTRAL CLOSE. If such a scenario unfolds then we should see a larger scale UP MOVE on Tuesday. There is a very strong chance of this occuring.
This type of setup however would not preclude us making some good money on the long side today on a lower move to the BreakDown or catching some more BreakOut to the upside with the correct Trailblazer formations.
Buy Pivot Target: 1,127.75 - 1,128.75
Look for early support to come in here. We will be waiting for the Hour One pivots however today.
Compare the BreakDown if that appears to be the first Hour One pivot to this Buy Pivot zone and that should add double support if they are closely related.
Sell Pivot Target: 1,138.25 - 1,137.25
Some resistance here along with the Pit Bull which is the same zone.
If we can get a flat to lower opening and the BreakDown Hour One pivot first with a Trailblazer formation to get in the trade then we could get the move up to this zone before running into resistance.
IF this setup occurs then we would most likely look for short the market up here after such a run from the lower early prices.
Seeing prices stall up here and NOT PULLBACK MUCH will be a bullish sign for a continued run to 1142-44 with the ultimate goal of stretching to new months highs of 1150 up to 1155-56 before they tire out some.
10 Day "Pit Bull" Moving Average: 1,137.80
As mentioned above...we have the Pit Bull as the first goal up. Crossing over this 1138 price area in a strong, assertive way will drive prices higher quickly. Stalling here will draw a temporary "Line in the Sand" which we expect will be resolved to the upside.
Pro Trader's Action
We are bullish for today unless there is some devastating news that creates a Bear Ugly situation. Ideally we will get some early lower prices to find a spot to get long into and catch some points to the upside.
I hope the briefing is quite clear for you today. The Sell Mode has gone into an aberration with prices holding above 1126 as discussed the last few sessions.
Now that we are in an aberration we simply view that as a BULLISH SIGN that prices want to move against that Sell Mode usually for up to 3-5 days. Sometimes it's longer and really a significant aberration.
I feel this will be a "normal" short term aberration but with this being the election year and strong underlying bullish characteristics present plus a lot of Bears that are really convinced of the end of the world...well, you know what happens to that theory when it gets fully entrenched and believed in!
Let's see if we can get the road map described above to pan out today and get some good trades action going.
Welcome back from the weekend and have a great trading day. I'll see you in the action. Mohan
Trade Setup Summary for Friday, April 16, 2004:
No Headline Call due to Options Expiration on Friday and no live trade updates.
Recap of Friday's Action:
Good Morning and welcome to Monday's Action.
On Friday we had the Options Expiration and therefore no Headline Call and no Live Trade Updates which is our tradition to not trade on option expirations.
We did offer a Buy side bias since the trade closed in near the 1126.00 price which we expected would put the Sell Mode we have been in into an Aberration.
YOU CAN SEE THE RESULTS ON FRIDAY. We have now officially entered an Aberration on the Sell Mode and as such are expecting a significantly higher move in the markets. More details below.
Today's Call & Briefing:
We are full on bullish now at least for the next few days and maybe longer now that the Sell Mode has entered into an aberration.
Thursday gave us strong hints of going into an aberration and to look for higher prices. We put out the call for a buy bias on Friday due to this and the price action confirmed the AB.
Now we are expecting that the market will make a move higher which could be significant from here.
Our first goal up will be for prices to Cross over the Pit Bull to the upside (today at the 1138 area) and then make it to 1142-44.
Above this we feel we could head up to the 1155 area which would surprise a lot of the confirmed Bears.
The key for today will be to see the prices HOLDING ABOVE 1130.00 to confirm a higher move today.
We would ideally want to see A LOWER OPEN AND A LOWER EARLY MOVE today to assist the bullish Market Force.
Now keep in mind that if there is some significant bad news and the High Five go Bear Ugly on us then the call is wrong and we should be careful trying to Buy. However, I expect we will see the upward goals mentioned above very soon and possibly today.
The real key to the higher prices will be on Tuesday and Wednesday's reaction to a rally that occurs today on Monday.
ACTION TO LOOK FOR TODAY: We want to be looking IDEALLY for the BreakDown on the Hour One pivots in order to get long.
If we hit the BreakOut FIRST then we will really need to exercise caution and be sure the High Five are going to support getting long as we did have some decent upside on Friday and want to confirm the higher action. This will be especially important if the Hour One BreakOut is hit AFTER an early rally...IE: the Dow and NAZ have already significantly rallied at the time of the BreakOut.
If we see the Dow up over +70 and NAZ up +15 or less just be a bit cautious about getting to convinced on the long side for Monday. After some pullback we can get aboard for extra strength on Tuesday with a setup like this.
Value Area: 1,130.80 - 1,135.00
The Value Area is showing the Highs on Friday contained within the top of Value so it will be significant for the bullish side if we can move above AND HOLD ABOVE 1135.00 TODAY.
Trade below 1130.00 should show some weakness with support today with a NEUTRAL CLOSE. If such a scenario unfolds then we should see a larger scale UP MOVE on Tuesday. There is a very strong chance of this occuring.
This type of setup however would not preclude us making some good money on the long side today on a lower move to the BreakDown or catching some more BreakOut to the upside with the correct Trailblazer formations.
Buy Pivot Target: 1,127.75 - 1,128.75
Look for early support to come in here. We will be waiting for the Hour One pivots however today.
Compare the BreakDown if that appears to be the first Hour One pivot to this Buy Pivot zone and that should add double support if they are closely related.
Sell Pivot Target: 1,138.25 - 1,137.25
Some resistance here along with the Pit Bull which is the same zone.
If we can get a flat to lower opening and the BreakDown Hour One pivot first with a Trailblazer formation to get in the trade then we could get the move up to this zone before running into resistance.
IF this setup occurs then we would most likely look for short the market up here after such a run from the lower early prices.
Seeing prices stall up here and NOT PULLBACK MUCH will be a bullish sign for a continued run to 1142-44 with the ultimate goal of stretching to new months highs of 1150 up to 1155-56 before they tire out some.
10 Day "Pit Bull" Moving Average: 1,137.80
As mentioned above...we have the Pit Bull as the first goal up. Crossing over this 1138 price area in a strong, assertive way will drive prices higher quickly. Stalling here will draw a temporary "Line in the Sand" which we expect will be resolved to the upside.
Pro Trader's Action
We are bullish for today unless there is some devastating news that creates a Bear Ugly situation. Ideally we will get some early lower prices to find a spot to get long into and catch some points to the upside.
I hope the briefing is quite clear for you today. The Sell Mode has gone into an aberration with prices holding above 1126 as discussed the last few sessions.
Now that we are in an aberration we simply view that as a BULLISH SIGN that prices want to move against that Sell Mode usually for up to 3-5 days. Sometimes it's longer and really a significant aberration.
I feel this will be a "normal" short term aberration but with this being the election year and strong underlying bullish characteristics present plus a lot of Bears that are really convinced of the end of the world...well, you know what happens to that theory when it gets fully entrenched and believed in!
Let's see if we can get the road map described above to pan out today and get some good trades action going.
Welcome back from the weekend and have a great trading day. I'll see you in the action. 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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- Registado: 4/11/2002 23:16
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