"TAP não sobrevive se se mantiver pública", garante Pinto Luz

[Pata-Hari]

LOL, gostei do "Today could be a pivotal day however in determining if the new Buy Mode is going to stick or GO INTO ABERRATION and move lower. "

[Dwer]

Market Force: Bullish. Stay on the long side especially on lower open today and early push lower.

Trade Setup Summary for Friday, March 26, 2004:
1)S@ 1108.50 to 1109.50/ Cover at 1108.25 area for up to +1.25 pts.

2)S@1109.25 -1110.25/ Cover 1111.50-1112.00 for up to -2.50 pts.

TOTAL: -1.25

Recap of Friday's Action:
Good Morning and thank you for joining us today. I hope you had a great weekend.

On Friday's action we had called for lower early prices to be bullish for a move up later in the session. We had also urged buying the BreakDown Hour One pivot area.

Well, we got an early move lower but we did not hit the BreakDown and so we were more cautious buying. As we approached the BreakOut we got some Trailblazer formations to go short for a small scalp lower but the bullish Market Force held prices up against our position. After some pullback and then seeing prices move up again we exited the recommendation to short and then recommended re-entering a bit higher.

The market continued to "hang up" near the highs so no cigar on shorting on Friday which was a bit unusual as there are often reactions to the downside as traders square their positions on Friday's.

Going into the final half hour after making a new marginal high the market began to finally sell off taking em back down to the early support near the opening price area of 1105.50.

Our early trade recommendation showed a small profit to Break Even while we had to cut the 2nd trade as prices kept bobbing lower and then pushing back up as the day wore on. So on balance it was a small loss for the day.

Today's Call & Briefing:
We will be looking for the market to continue to be bullish as we have now entered a new Buy Mode.

Today could be a pivotal day however in determining if the new Buy Mode is going to stick or GO INTO ABERRATION and move lower.

This should be relatively easy to determine by the way the prices trade in the first hour or so and also based on the OPENING PRICE.

If we see the market open flat to lower and MOVE LOWER FIRST THIS WILL BE A BULLISH SIGN we expect for the day. The key will be to see the prices HOLD ABOVE THE OPENING LATER IN THE SESSION and continue higher.

This is primarily what we are expecting but because we are professional S&P500 traders we are always open to the alternate idea and setup.

If we see the market open flat to HIGHER and run higher first then be Cautious of a later sell off in the session especially if the High Five is not showing favorable signs.

If we can hold steadily above the opening there is a chance that we could launch a 2-3 day higher move stretching first to reach for 1121.00 and then pressing on to the 1136-37 target mentioned last week as the first goal higher.

If we get the lower early move today on a flat to lower opening then look for Trailblazer 3rd level sell off formations around the BreakDown to be looking to buy.

We will want to WAIT for the first hour to finish today as it's Monday and often we find it is better to let the market sort itself out a while on Monday mornings. We are expecting the BreakDown to be the first Hour One pivot to be hit today.

Value Area: 1,105.80 - 1,111.00
Watch for trade to move just slightly below the Value Area and then find support and move back into the VA and ABOVE to support our Headline Call idea.

Holding BELOW THE OPENING TODAY and below this VA is a bearish sign and we will need to see today sell off first before we can get moving to the upside. The High Five and especially the NAZ (our nickname for the Nasdaq composite index) will give us clues about support or a sell off today.

Buy Pivot Target: 1,102.50 - 1,103.50
We are going to wait for the first hour to finish today before initiating any trades but watch for formations on the chart patterns around this price area as well as the BreakDown.

1098.25 is the -4.25 stop/pivot and should come in as good support if the market is going to move higher.

Sell Pivot Target: 1,112.00 - 1,111.00
On a lower early move and subsequent push higher we are going to need to watch this zone for resistance and the +4.25 stop/pivot above here at 1116.25.

10 Day "Pit Bull" Moving Average: 1,105.60
If we move below this number which is expected in the early session then look for prices to hover in this zone and then push higher to confirm the bullish posture we are expecting going forth.

Pro Trader's Action
Let's plan to get long for a stronger breakout to the upside today but be on the lookout for a higher opening and early move higher to possibly throw water on that idea. If the higher opening and early rally does occur we will probably see the prices melt down later in the session throwing the new BUY MODE into Aberration. This is not expected but TODAY WILL BE PIVOTAL.

A simple key for today is to watch how prices are REACTING TO THE OPENING PRICE and this will give us strong clues.

Good Luck with your trades today and I'll see you in the action. Mohan