Mohan 01/12/03
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Mohan 01/12/03
Market getting ready to make a larger scale downside move. Sell Rallies today expecially on a higher opening and early run up.
Trade Setup Summary for Friday, November 28, 2003:
No Headline Call offered on Friday therefore there were no TCF trade setups.
Recap of Friday's Action:
Good Morning and welcome back from the Holiday period of Thanksgiving.
Hope you had a pleasant and relaxing few days off away from the markets.
We offered no Headline Call on Friday due to low holiday volume and therefore there were no 21st Century Futures (TCF) Trade recommendations made.
The market moved up in a small 4 point range as we had suggested looking to stretch up and reach the 1061 number area mentioned early last week. We are waiting for the 1066 price objective to finish off the upside pattern TEMPORARILY although we may never get it. Today should provide good clues and we have offered some alternatives below on how to make money today if we don't get an early push up.
We are preparing now for a larger scale sell off as per our Headline Call today and below I will give you more details on how we can approach that with the goal of making some profits as prices pull back some.
Today's Call & Briefing:
We remain on High Alert for a larger scale drop in the markets which our Market Force indicators are foretelling. I don't want the term "larger scale drop" to alarm you as it is merely referring to a move of more than a one or two day drop. Usually these moves between Market Force "rollovers" or changes in "buy mode or sell mode" are in the neighborhood of 30-50 handles on the S&P500.
With the Christmas Holiday coming and New Years we have some evidence (as has been demonstrated since we gave our underlying bullish Call during the beginning of the so called Iraq War) of a continued up move through the end of the year and beyond.
So with this in mind the current "rolling to Sell Mode" Market Force will either drop quickly, find an aberration support and grind higher into the New Year OR we will see the slow erosion and lower, dissapointing prices moving into Christmas.
This should be relatively easy to discover over the next few weeks and as always I will be here analysing these indicators on a daily basis so we can stay on the right side of the market.
Always remember though that we don't have to KNOW for sure where the shorter term underlying market direction is going to MAKE MONEY which is our primary goal. I only offer the information on the shorter term Market Force direction (which is derived from our 18 proprietary indicators) as an additional commentary to keep us focused on all the possibilities.
We will be carefully watching for a move up to 1066 early today and then a failure of that area which drives the prices back down to 1058, 1055, then the urgently important support at 1051.00. Below that is 1047-48, then the Pit Bull at the 1045.00 area and then down to test the stronger support at 1037-39.
TCF TRADE SETUPS TO WATCH FOR TODAY: Ideally today we will get a HIGHER OPENING and an early push up that we can look to sell at the BreakOut. Be sure the correct setup for Selling the B/O is there and we are not seeing a bullish B/O BUY. You can refer to the Trading Handbook for all the details but basically for those on a Free Trial we are looking for a Dow Rally with the NAZ (our nickname for the Nasdaq composite index) holding back being only up +10 points or less. We then look at TRIN to see if it is trading at .90 or higher and this should set up a pullback later off this rally.
If we move lower off a LOWER OPENING and an early drop but NOT A Bear Ugly type situation with hyper negative news, then we should be able to Buy that B/D for one more rally attempt off the early lows.
As we are on High Alert for a larger scale drop keep in mind that what happens when the Market Force Indicators "Roll over to Bearish" is that a large DOWN DAY comes first to OPEN UP the new, lower direction. This would most likely occur with a Bear Ugly type day. So be ready for that in addition to a slow erosion type sell off on a higher opening and early push up in prices.
Value Area: 1,057.80 - 1,060.00
Prices holding below the Value Area are bearish. Next level lower is the Buy Pivot Target and then 1051.00. If we make an attempt at 1066 which is expected then we should see the 1057.80 holding initially but then failing as they punch em lower.
Buy Pivot Target: 1,055.75 - 1,056.75
No Trade at this target today but watch for support coming in at this Buy Pivot minus the -4.25 stop/pivot at 1051.50.
As mentioned above this 1051.00 price is going to be a CRUCIAL SUPPORT ZONE and if they plow through this number to the downside this should start the cascade lower back to 1037-1039.00 .
Sell Pivot Target: 1,060.00 - 1,059.00
No Trade at this target today in the early going but watch for the FAILURE OF 1064.25 to hold up the market and then consider a short at 1060.00 or above.
This +4.25 stop/pivot is very close to our 1066.00 upside goal to finish off the upside pattern temporarily.
We are/were bullish going into the New Year period but the Market Force indicators have handed us a set of signals calling for a larger scale sell off. This being the case IF we are to be bullish going into the New Year (expected) then we may get a hard, fast squash that then recovers quickly and throws these negative Market Force readings into aberration.
Otherwise, if it is bearish we will get a slow erosion and ANOTHER bummer Christmas period in the stock market thanks to all the jerks so committed to violence, terrorism and keeping the continued pressure on this issue.
10 Day "Pit Bull" Moving Average: 1,045.20
If we get the expected lower price action today upon reaching for 1066 then below 1055.00 there will be a return to a CROSSOVER ALERT with the Pit Bull. We can actually watch how the prices unfold early to see if we are going to go back to the Pit Bull support. Depending on how they react down at that number we should be able to determine how the rest of the month is going to pan out.
Pro Trader's Action
Well, we are back from the nice holidays and it's time to Rock and Roll in the markets again. Sometimes you will find that after a particularly relaxing stretch of a few days it is harder to get your "Chops" up on that first Monday back. The way to solve this is to READ THE TCF TRADING AFFIRMATIONS available on the site and get your mindset geared up for some FAST FUN.
Trading is meant to be FUN. Especially what we do in the "Fastest game in town". The goal of our trading life is to get up everyday, full of enthusiasm, ready to get on the right side of the market by following the TCF Trade setups, and hit the trade when it sets up. You want to develop a state of mind where you literally DO NOT CARE WHICH WAY THE MARKET GOES AFTER YOU ENTER YOUR TRADE. This causes way too much tension. Just follow the proven TCF system we offer, operate your "trading machine" knowing that it works well if "oiled right" by your expert reading of the signals and just get into it.
Try NOT to take each trade as a "make it or break it" type attitude. Just relax into the overall mood of the (definitly intense) business we are in and GO TO WORK. In one very real sense it's just ANTHER DAY AT WORK.
Let's see if we can get some early Monday higher opening and rally going without the backup of the High Five so we can get short and start the week out nicely. If not and the market throws us a different curve ball then we will simply adapt using our rules.
Good luck and I'll see you in the action. Mohan
Trade Setup Summary for Friday, November 28, 2003:
No Headline Call offered on Friday therefore there were no TCF trade setups.
Recap of Friday's Action:
Good Morning and welcome back from the Holiday period of Thanksgiving.
Hope you had a pleasant and relaxing few days off away from the markets.
We offered no Headline Call on Friday due to low holiday volume and therefore there were no 21st Century Futures (TCF) Trade recommendations made.
The market moved up in a small 4 point range as we had suggested looking to stretch up and reach the 1061 number area mentioned early last week. We are waiting for the 1066 price objective to finish off the upside pattern TEMPORARILY although we may never get it. Today should provide good clues and we have offered some alternatives below on how to make money today if we don't get an early push up.
We are preparing now for a larger scale sell off as per our Headline Call today and below I will give you more details on how we can approach that with the goal of making some profits as prices pull back some.
Today's Call & Briefing:
We remain on High Alert for a larger scale drop in the markets which our Market Force indicators are foretelling. I don't want the term "larger scale drop" to alarm you as it is merely referring to a move of more than a one or two day drop. Usually these moves between Market Force "rollovers" or changes in "buy mode or sell mode" are in the neighborhood of 30-50 handles on the S&P500.
With the Christmas Holiday coming and New Years we have some evidence (as has been demonstrated since we gave our underlying bullish Call during the beginning of the so called Iraq War) of a continued up move through the end of the year and beyond.
So with this in mind the current "rolling to Sell Mode" Market Force will either drop quickly, find an aberration support and grind higher into the New Year OR we will see the slow erosion and lower, dissapointing prices moving into Christmas.
This should be relatively easy to discover over the next few weeks and as always I will be here analysing these indicators on a daily basis so we can stay on the right side of the market.
Always remember though that we don't have to KNOW for sure where the shorter term underlying market direction is going to MAKE MONEY which is our primary goal. I only offer the information on the shorter term Market Force direction (which is derived from our 18 proprietary indicators) as an additional commentary to keep us focused on all the possibilities.
We will be carefully watching for a move up to 1066 early today and then a failure of that area which drives the prices back down to 1058, 1055, then the urgently important support at 1051.00. Below that is 1047-48, then the Pit Bull at the 1045.00 area and then down to test the stronger support at 1037-39.
TCF TRADE SETUPS TO WATCH FOR TODAY: Ideally today we will get a HIGHER OPENING and an early push up that we can look to sell at the BreakOut. Be sure the correct setup for Selling the B/O is there and we are not seeing a bullish B/O BUY. You can refer to the Trading Handbook for all the details but basically for those on a Free Trial we are looking for a Dow Rally with the NAZ (our nickname for the Nasdaq composite index) holding back being only up +10 points or less. We then look at TRIN to see if it is trading at .90 or higher and this should set up a pullback later off this rally.
If we move lower off a LOWER OPENING and an early drop but NOT A Bear Ugly type situation with hyper negative news, then we should be able to Buy that B/D for one more rally attempt off the early lows.
As we are on High Alert for a larger scale drop keep in mind that what happens when the Market Force Indicators "Roll over to Bearish" is that a large DOWN DAY comes first to OPEN UP the new, lower direction. This would most likely occur with a Bear Ugly type day. So be ready for that in addition to a slow erosion type sell off on a higher opening and early push up in prices.
Value Area: 1,057.80 - 1,060.00
Prices holding below the Value Area are bearish. Next level lower is the Buy Pivot Target and then 1051.00. If we make an attempt at 1066 which is expected then we should see the 1057.80 holding initially but then failing as they punch em lower.
Buy Pivot Target: 1,055.75 - 1,056.75
No Trade at this target today but watch for support coming in at this Buy Pivot minus the -4.25 stop/pivot at 1051.50.
As mentioned above this 1051.00 price is going to be a CRUCIAL SUPPORT ZONE and if they plow through this number to the downside this should start the cascade lower back to 1037-1039.00 .
Sell Pivot Target: 1,060.00 - 1,059.00
No Trade at this target today in the early going but watch for the FAILURE OF 1064.25 to hold up the market and then consider a short at 1060.00 or above.
This +4.25 stop/pivot is very close to our 1066.00 upside goal to finish off the upside pattern temporarily.
We are/were bullish going into the New Year period but the Market Force indicators have handed us a set of signals calling for a larger scale sell off. This being the case IF we are to be bullish going into the New Year (expected) then we may get a hard, fast squash that then recovers quickly and throws these negative Market Force readings into aberration.
Otherwise, if it is bearish we will get a slow erosion and ANOTHER bummer Christmas period in the stock market thanks to all the jerks so committed to violence, terrorism and keeping the continued pressure on this issue.
10 Day "Pit Bull" Moving Average: 1,045.20
If we get the expected lower price action today upon reaching for 1066 then below 1055.00 there will be a return to a CROSSOVER ALERT with the Pit Bull. We can actually watch how the prices unfold early to see if we are going to go back to the Pit Bull support. Depending on how they react down at that number we should be able to determine how the rest of the month is going to pan out.
Pro Trader's Action
Well, we are back from the nice holidays and it's time to Rock and Roll in the markets again. Sometimes you will find that after a particularly relaxing stretch of a few days it is harder to get your "Chops" up on that first Monday back. The way to solve this is to READ THE TCF TRADING AFFIRMATIONS available on the site and get your mindset geared up for some FAST FUN.
Trading is meant to be FUN. Especially what we do in the "Fastest game in town". The goal of our trading life is to get up everyday, full of enthusiasm, ready to get on the right side of the market by following the TCF Trade setups, and hit the trade when it sets up. You want to develop a state of mind where you literally DO NOT CARE WHICH WAY THE MARKET GOES AFTER YOU ENTER YOUR TRADE. This causes way too much tension. Just follow the proven TCF system we offer, operate your "trading machine" knowing that it works well if "oiled right" by your expert reading of the signals and just get into it.
Try NOT to take each trade as a "make it or break it" type attitude. Just relax into the overall mood of the (definitly intense) business we are in and GO TO WORK. In one very real sense it's just ANTHER DAY AT WORK.
Let's see if we can get some early Monday higher opening and rally going without the backup of the High Five so we can get short and start the week out nicely. If not and the market throws us a different curve ball then we will simply adapt using our rules.
Good luck and I'll see you in the action. Mohan
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- Mohan 011203.GIF (42.03 KiB) Visualizado 204 vezes
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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