Friday, September 19, 2014
Thursday, September 18, 2014
Wednesday, September 17, 2014
Nasdaq 100 (QQQ) current pattern, moving average settings give me a "high probability" target of
$94 around Jan 2015
What price action could cause me to change my mind? We would need to remain above 98 in that tight channel you see in red arrows (over 2 weeks), then break out (Gut feelings say that will not take place soon)
Tuesday, September 16, 2014
Monday, September 15, 2014
The weekly chart above is of the Dow Jones REIT index (Real Estate Investment Trusts)
Clear double top, expect further pull back.
Crude oil also signals a clear slow down in the economy, expecting prices to break the 2014 support level.
$USD Dollar, as mentioned several times before, its now a clear safe heaven
Silver & Gold ? Clearly oversold (in my opinion), but don't fight price action!
We could argue all we want about Gold and Silver being the best safe heaven against currencies that are not worth anything ... but price action is telling us another story.
A major war is about to take place, Russian sanctions, China's Real Estate crash ... name it, there are many reasons out there to start to worry.
Smart money decided to bet on the $USD, so should you
Regarding stocks, I have my eyes on MCP, Molycorp, you probably remember this rare earth darling? Use to trade it several times, I am now waiting for an ABC pattern before jumping it on long term call options.
Sunday, September 14, 2014
Friday, August 29, 2014
Euro Dollar big picture
We are still in a lower highs pattern. Current price action broke "the" main trend line.
Congestion in early to mid 2013 could act as a key support level. Gut feeling says the US economy is doing much better than anticipated, and the EU zone needs a Euro below 1.20 to "reset" its slowing economies (take France for example)