Today I expect the S&P futures to move higher so I am looking for shorts over the next two days to enter. One stock on my radar today and tomorrow is Hartford Financial Services. Now I have been look

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E-MINI S&P FUTURES DAILY: (ES #F)… Continue

E-MINI S&P FUTURES: DAILY

The first thing that I noticed this week after scanning through the daily chart for the E-mini S&P Futures was that the Friday's low was 1066.50, which broke out low of the Thanksgiving day sell-off of 1067.00. Seeing that the market has broken seve… Continue

The old trading wisdom sometimes teaches to never let others influence your thought processes. I was being cautious about some of my shorts this morning, and I felt like I had to cover because the guy at the futures pit said futures are starting to tick higher - I really had cut some of these profits short, just thought I'd get this off my mind

Now I would like to begin this post with saying FINALLY! How long has everyone been waiting for a nice pull back like this?

As for charting this week, I will be covering the daily chart for the E-Mini S&P Futures (like I normally do) as well as providing you all with just a snapshot of the weekly and monthly charts just for reference.

E-MINI S&P FUTURES: DAILY

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I thought this was pretty interesting this morning when I came in and decided to post it up to show how much support is currently trying to hold up this market right now. Basically what you'll see below on the daily chart I have provided to you in this post is the fact that there are several trends crossing today giving the market support just above 1100.00. The first trend (beginning from the lowest trend moving up) has held since the low in August 2009. The next upward trend just above is from… Continue

It would seem like bearish traders that were trying to short at those circled entry points, had a legitimate reason, but for '09 those plays didn't work. The interesting part of this chart that I like most is that 1041, 991, and 884, the areas of previous support could be levels to be cautious if the market… Continue

The reason why I shorted NZD/USD is because of what I saw on the daily chart, and it has traded in a range between .70 and .745 and .75, and because of its recent price action, its now selling off to where its trading at the .72 (middle of range) and I believe it could have potential to reach support at .70 again. New Zealand's retail sales are released today.

When looking at these kinds of technicals, and analyzing wave structure, usually wave C is the most powerful so when Elliott Wave came up with their forecast, they had to project a sharp decline in the dow (unfortunately these charts don't feature the S&P) for 2010-2011

Now of course I will be watching Citi Group today but I decided not to write about it in this post. The two stocks I would like to focus on that I will be watching closely is both CSX and IBM because they are reporting after the close.

CSX CORPORATION: (CSX)

As seen from the daily ch… Continue