** The instant messenger room is included in a subscription at no extra charge **

May 16, 2013 Market Action

Today we opened at right at initial support and 
bounced to the initial resistance. That level 
was rejected and a move down to support again followed
After a few pokes above resistance the market
could not make it through and we went sideways during
the lunch hour. Another attempt to break the initial
resistance failed and the market came down through
initial support and finally down to the second support
level. 

As you can see the market had trouble at resistance
levels today and offered some good opportunities for 
trading.  Check out the chart below and see how
well the market respects the levels listed in the nightly
update.

 

INTRADAY LOG

 

16 May 2013 09:30 am
Good morning. 53 area pivotal early per last night. If They run up to 57 should be sold

16 May 2013 09:35 am
The run-up stalled out 63 area needs to hold on a pullback or high and for a bit

16 May 2013 09:40 am
64.50-64 needs to hold on pullback from 55.50 area, if no pullback plan 57

16 May 2013 09:42 am
Bounce from 54.75, One more push higher should be sold into,

16 May 2013 09:47 am
Would need to break 54 to turn things down, can get to the 57 area

16 May 2013 09:49 am
66.25 could be it on the upside especially if 64 is broken. If there is another push higher, then that should be sold into

16 May 2013 09:58 am
Push through 57, should hold around 56.75-56.25 two stays in strong uptrend. Everything has found a base, so now the ES should stay over 64.50-64. Will be key the rest of the morning

16 May 2013 10:03 am
Break of 56.75 area on housing number star reversal down to 64 area, another bounce towards 56 that stalls is a short

16 May 2013 10:08 am
Could bounce off of 51.50 area, should stop around 55.25 at the highest if going back down again. If no bounce then down towards 49-48

16 May 2013 10:10 am
A bounce attempt from 50.75 new low, 53.75-54.50 should be good bounce resistance is going to be another push for lower

16 May 2013 10:18 am
Bounce made it to 54.75 and should sell off from there, a break under 63 will need to reverse right back up to avoid retest of low

16 May 2013 10:20 am
No retest of the low but a bounce from 62.25 instead, and a move above 64.50 Nice to hold on a dip or still can go back towards the low. If taken out then 56-56.75 area resistance

16 May 2013 10:28 am
The next bounce should set up a shorting opportunity if they don't break down through 63.75. At first. Two-sided action but character changing, more eager sellers into strength

16 May 2013 10:30 am
Just look to sell bounces for now, this thing is going to break pretty hard from here or out for one more push higher

16 May 2013 10:33 am
52.50 tested three times and able to bounce but if this cannot get above 65.50 and hold that will be broken

16 May 2013 10:38 am
That number is 55.50. If that succeeded/held there could be a bit more upside before pulling back again

16 May 2013 10:41 am
With this being choppy two-sided action just looked to short the bounces towards the top side if stall and cover/buy on a pullback unless 52.50-52 broken. Back in 10 minutes

16 May 2013 10:51 am
53-52.25 tested 5 times and a break that doesn't look we reverse up needed to put pressure on. Pattern is also a bit of a rising wedge, so should be key area.A new low likely is broken

16 May 2013 11:03 am
56-56.50 has been hard to get through, if cleared and held there can be one more push higher maybe make a token higher high. 54.50 area needs to hold to get that push higher

16 May 2013 11:19 am
Rally just reversed from 58.75, and if that is not taken out then a double top could be left on my charts. 56.50 area should hold to get another push higher

16 May 2013 11:23 am
Looks like we could have a short-term double top in place by breaking 57-56.50. Needs to rally off of 56 with gusto, but still likely sold on a test of 59-60 if reached

16 May 2013 11:30 am
So for 55.75 the pullback low, this bounce attempt should be sold into their 56 is broken and not turned right back up it's on its way to 54.50 possibly 52.50 key area

16 May 2013 11:37 am
58 could be a bounce high, especially if the next pullback breaks under 56.75-56.25 area

16 May 2013 11:40 am
Looks like 59-60 area could be tested on this move, but it won't stick unless there is some piling on shorts squeezed

16 May 2013 11:44 am
More rejection from just under 59, I think sellers are in charge at the moment as long as that's not broken, down to around 56.75 should hold foregoing lower towards 56 or further

16 May 2013 11:52 am
Very choppy uptrend off of the low with higher highs and higher lows made. Could test 59-60 area if 56.50 doesn't break.

16 May 2013 11:59 am
If this goes down below 56.50, would need to turn right back up. Otherwise, a high around noon-12:30 PM like yesterday. And 11 point pullback off the high probably not likely though

16 May 2013 12:04 pm
The next pop up can be sold into, even if snap back from 56.50 area, should have a high in place for a while. A third test of 58.50 probably not going to happen soon

16 May 2013 12:16 pm
57 could be pivotal up here, needs to be pushed above and held on a dip if there's going to be a try for 59-60. Holding under keeps the door open for another push lower. NQ leaving a bit

16 May 2013 12:24 pm
Pop-up to 57.25 turned right back down, 55.50 the pullback lows will for but can still go to the 53-52.50 area if this stays under 57

16 May 2013 12:35 pm
Stand under 56-56.50 keeps some pressure on to at least test 54.50 and maybe down to that 52.50 area that is key

16 May 2013 12:44 pm
This can break the downtrend if they push over 55.75 and can stay up there, then could go for 57-58 again for or that lower

16 May 2013 12:51 pm
Looks like 54.50 pretty good support, but if no bounce with gusto is going to break and head towards 52.50.I'll be back after about 15 minute lunch break unless something unusual happens.

16 May 2013 01:09 pm
Pop up did not stick, but so for 55-54.75 has been holding. Strengthen not going to stick and if/when broken, then they go down to 52.50 or lower

16 May 2013 01:14 pm
There might be a bounce attempt to the NQ can keep pushing higher, but likely sold into again.

16 May 2013 01:21 pm
52.50 should be in the cards on the slate down, just be short on any kind of bounces under 59-60

16 May 2013 01:30 pm
Stalling out and normally would get a bounce. But need to happen very soon with gusto. But if 54.50 is broken and doesn't get turned around just under this low it should slide towards 52.50

16 May 2013 01:44 pm
A middle of the range double bottom at 54.75 finally getting some push and could go for 66.50 then pullback, might not get that far

16 May 2013 01:51 pm
That was supposed to be 56.50, not 66.50. Anyway 56.25 was rejected and breaking/holding over 56.50 needed to get a run to the high. Market does not look strong enough to pull that off, but won't rule it out if 56.50 broken and a small dip is held

16 May 2013 01:52 pm
Just a reversal off of that high area again, we have a double top and place and this stays under some pressure as long as it holds under 56.50 area

16 May 2013 02:03 pm
A tough market to figure out, but still is a good bid on the pullbacks, so look for 55.75-55.54 support on a dip for one more push higher from there

16 May 2013 02:17 pm
Pullback held just above 55.75 and made it to 58 so far, should run into selling at 58, but if that isn't sold then 89.50-60 possible

16 May 2013 02:20 pm
I need to step away for about 10-15 minutes. It looks like 57-56.50 needs to give another bounce to avoid rolling over.

16 May 2013 02:40 pm
Run up to 58 and going sideways again, has to stay over 66.25 area or could roll over. NQ could lead, it just came off a new high a bit ago

16 May 2013 02:41 pm
That should be it as long as 56.50 not exceeded handheld, a short up here

16 May 2013 02:46 pm
This 54.50-54 area Is key here or going to 52.50 area

16 May 2013 02:48 pm
Resistance at 55.50-56, should not get back above 56.75 on any bounce attempt. If it does, would need to turn right back down to continue the toppy action

16 May 2013 02:52 pm
55.50-56 sold, that area should be good resistance on bounce if going lower towards 52.50 before ending pullback. If 56.50-57 area is taken out and not sold into market stronger than I thought

16 May 2013 02:58 pm
Still have 52.50 area for target, 53 was reached but that might not be fit for the downside yet. A bounce is going to fail in the market knows it

16 May 2013 03:00 pm
52.50 reached, Watch 54.25 for bounce resistance, that's about as far as a bounce should go to keep steady downtrend intact

16 May 2013 03:03 pm
3 PM countertrend move likely not going to take out the 54.25 area. Will be lucky to get over 54.50 and stick

16 May 2013 03:08 pm
52.50 target slice support is holding for now. If 52.50 cannot hold, this continues down to the 51.50-50.75 zone. Would need to fail around 54-54.50 and turned back down

16 May 2013 03:12 pm
A pretty feeble bounce starting at 3 PM, 52.50 has held and that is all that is good with the market at the moment. That should be broken but after a bounce that fails again

16 May 2013 03:20 pm
Looking for the 50.50 level and if that doesn't hold then 49-48.50. 52-52.50 area bounce resistance

16 May 2013 03:22 pm
Even a bounce from down here would be sold into, careful as this could slip to 49-48.50 easily

16 May 2013 03:27 pm
The market was in good shape there would be a good buying coming in from the 48.50 lo, not the case. Good head for a 44.50 area If broken. 52-52.50 bounce resistance, late break if not taken out

16 May 2013 03:29 pm
Hope you had a good day. I will catch you tomorrow some time around the open. Enjoy the rest of your day!

 

May 15, 2013 Market Action

Today we opened at support and after the market was able to hold
above it for some time it was a clue that the market might go higher
A push through the initial resistance area fueled a rally right up 
to the last fixed resistance area mentioned last night. There were a 
few good opportunities to get long on that rally and make some points.
A retest of the 1654 area failed and the market broke down which gave 
us an opportunity to get short down to the 1650 area where the market
bounced and moved up into the close.

Great trading today around the s/r areas. There were some classic "ebook"
setups which if you had been trained to see them could have made you
some profit.  Check out the ebook and get on board to making some $$.

 

INTRADAY LOG

 

15 May 2013 09:20 am
Good morning. I don't think we get the same kind of day with a good rally, pullback is due. If they get back up to the 48-48.50 area there will be sellers waiting.

15 May 2013 09:21 am
At a rally off of 42.50 area but doubt that the move will stick.

15 May 2013 09:27 am
Acts like there are buyers around 42.50 also, has to bounce from there to have a chance to have a little run up that probably fails under 46

15 May 2013 09:32 am
44.50 area Needs held on a pullback from 46 area

15 May 2013 09:35 am
45.50-45 area needs to hold now to keep pushing higher towards 48

15 May 2013 09:40 am
45.50 held and delayed pop-up to 47 that could not hold, a break of 45.50 will need to turn right back up or the trend changes to down

15 May 2013 09:44 am
47-47.50 has been rejected three times and unless that's taken out/held pullback to 44.50 area needs to hold/bounce or down towards 42.50 possible

15 May 2013 09:49 am
44.25 was touched and quickly turned around, need to hold there or will have a breakdown t-tests 42.50-42

15 May 2013 09:54 am
Temporary bottom at 44.25, a move to the 47 area should be rejected, if not then can go a bit further to 48.50 and then come back down.

15 May 2013 10:04 am
47 push through/held and 48.50 area should be sold into, but if pushed through then to 49.50

15 May 2013 10:09 am
Stalling just above 47, To turn the trend 47 would need to break and not turn right back up,

15 May 2013 10:11 am
So far 48 stop the move and 47 was broken, should be hard to get over the 48 area and hold, 45.50 small support on this pullback

15 May 2013 10:22 am
Pullback held 45.75 bounced to test 48 high. 45.50 key support on pullback to keep uptrend intact and not go back to 44 or 42.50

15 May 2013 10:30 am
Pullbacks have been holding 46-45.50, but pop-ups being sold into

15 May 2013 10:33 am
Need to get above 48, and hold, or could be topping out up here. 46-45.50 need to hold or there could be a decent pullback.

15 May 2013 10:34 am
Should go up and take out 48.75 hi from yesterday before some pullback if this is a another rally that's going to stick without a decent selloff/pullback

15 May 2013 10:44 am
The ES just missed yesterdays 48.75 hi my one tick at 48.50, should be a top but could still bounce from 45.50/must

15 May 2013 10:47 am
A bounce from here should fail around 47-47.50 area is going lower. Damage done only on a break/hold under 46-45.50 -- looks pivotal

15 May 2013 10:56 am
47-47.50 was taken out and now should see 48.75 some pullback after that possible

15 May 2013 10:58 am
77.50-77 needs to hold as support on a dip in turn back up from there if the upside is going to continue and not be another failure up here

15 May 2013 11:04 am
As long as 48.50 holds on a pullback the upside is going to continue. This move getting parabolic but could get to 53 maybe after some pullback

15 May 2013 11:16 am
Almost to the 53 "resistance" which should be a little bit of trouble anyhow, has to stay over 50.75 area to keep pushing higher

15 May 2013 11:22 am
Just a heads up, I will be away today from around 12:15 PM until around 1:15 PM. I will update before leaving and as soon as I return. At the moment as long as 51.50 holds can still get to 53.50-54 "resistance"

15 May 2013 11:26 am
Bit of a bearish pattern, 50.75 area needs to get a bounce or could be traced back towards 48.50

15 May 2013 11:31 am
51.25 pullback low so far and trying to bounce, if cannot take out 53 then down towards 48.50

15 May 2013 11:45 am
53.50-54 zone mats but stays strong above 52.50 for now. 51.25-50.75 a key area if 52.50 broken/held

15 May 2013 11:53 am
A market still in a buying frenzy, it's not a sure until there is some sort of reversal. Pullbacks should be bought and then sold out on a pop-up until things change.

15 May 2013 12:00 pm
PC browser issue, will be back in 10 minutes or so

15 May 2013 12:14 pm
My apologies, the market is still in a buying frenzy but there could be a little trouble around 58. If not then up to the 60 area

15 May 2013 12:19 pm
Backing off a bit from 57.50 area, if this breaks down it should hold 55 area to stay strong. It broken than it might get toppy. But no damage done unless broken, and then 51.50-51 strong support

15 May 2013 12:19 pm
I need to be a way for about an hour, I will update as soon as I return

15 May 2013 01:08 pm
The ES turn down from the last resistance listed for today. This needs to bounce from 56 area to continue strong, if it does not than things are changing

15 May 2013 01:13 pm
If there is a high in place at 49.75, then this bounce should stop around 58.75 at the highest it appears. 57 can be a transition area if broken/held

15 May 2013 01:18 pm
A pop-up stopper that 58, that is a resistance that needs clear to attempt test of the high, if unable to hold 57 area on this move than 54.25-53.75 next

15 May 2013 01:27 pm
Holding under 57 keeps downside intact with 64.50 just above support at 63.75 area. 57-57.50 should not be exceeded/held if going lower

15 May 2013 01:37 pm
Should back off from 57 area if coming back down and going to break 54.50

15 May 2013 01:43 pm
Needs to bounce from 54.50 back above 57 to get anything going on upside, 53.75 still some support just under 54.50. Next update in 5-10 minutes

15 May 2013 01:54 pm
The market has tired out and balances should be sold into a peer the rest of the day, or at least for now. 57 and important above, market is bearish on there that for now

15 May 2013 01:59 pm
The NQ is almost on its low, the ES has some support at 53-52.50 and could bounce but if so it will fail

15 May 2013 02:00 pm
54.50-55 now resistance on a small bounce and won't be surprised if we go for the 48.50. If that's not able to hold

15 May 2013 02:11 pm
The 53-52.50 area was able to hold so far, that they don't bounce back above 54 and hold then this could go back to the 48.50 area

15 May 2013 02:16 pm
Pressure still on under 54 at the moment. 52.50 holding but need a push above 54 to avoid breaking down towards 51.25 area or lower

15 May 2013 02:18 pm
Amazing that the fix was up 5% on market near its high and now up less than 1% on the way down, complacent market. 48.50 area would be key support, breakout area this morning on the ES

15 May 2013 02:25 pm
There is a small support at 49.50, but the key area looks like 48.50 area still. A bounce to the 52.50 area should fail if this is going to come back down and break towards 48.50. NQ those in continuing

15 May 2013 02:30 pm
Should fail at/under 52.50-53 to keep the downtrend intact. Otherwise could be starting a rally back towards 55 or higher if broken by much

15 May 2013 02:32 pm
53 reached so 51.50 would need to be broken and not turn right back up, this can go for the 54 level next and then 55.50

15 May 2013 02:40 pm
Broke under 51.50, 53 new resistance turned this down and that needs to be cleared to take pressure off for a bit end of the day

15 May 2013 02:44 pm
48.50 area is in the cards, and could even retest the 44 area and make a reversal day out of this

15 May 2013 02:47 pm
The fact that this gave up without any sort of news, and overall action especially coming back to 48.50 makes a top for a bit. Don't expect a bounce to stick this afternoon

15 May 2013 02:51 pm
Buying at the 48.75 hi from yesterday, that area will need to hold and probably will but we will see. If broken and not turned right back up, retest 44.50, a key area before the 43-42.50 area which should be major today

15 May 2013 02:56 pm
A quick turn up from 48.50, that should be important low for now, need to push above 53.50-54 on this leg up, should be resistance around there

15 May 2013 03:03 pm
The only way I think we get a bounce visit there are a bunch of shorts that start to cover but would need to get through 52.50-53 Resistance at least or could still see the 44.50 area

15 May 2013 03:10 pm
The fourth test of 49-48.50 giving a bounce that should have trouble at 52.50-53, not a whole not higher unless going back up to possibly the 65.50 area

15 May 2013 03:20 pm
The pop over 54 stalled out and not able to stick on balances now, we could have a decent top in place, late needs to hold above 51 area to avoid 48.50

15 May 2013 03:23 pm
looks like 54.50 will not be taken out. But if it is then can top out around 55.50. Possibly 57, but don't see that area holding if reached. Time to favor selling strength in my opinion

15 May 2013 03:24 pm
Don't expect 48.50 to be broken either. Not good if it best. Have a good rest of your day, I will see you tomorrow morning but shortly after the open so read the nightly update.

15 May 2013 03:36 pm
Almost to the 55.50 area, that that's not sold then they could possibly go for the 57 area but doubtful. If 53-52.50 broken, trend could change

 

May 14, 2013 Market Action

May 13, 2013 Market Action

May 10, 2013 Market Action

The market opened up just under the 1625 area and managed to break through. What looked like a hold above the 1626 area was rejected near the 1629.50 area and the market broke down below the 1626.25 area. A test of that level gave us a good opportunity to get short for a move down to the 1620.00 support level. The market then bounce from the 1620.00 area up back to the 1626.00 level and went sideways for a while before running up to the 1629.50 area at the close.

You can see now the market respects the support and resistance lines through out the day. There were some decent opportunities for trades today even though  we had a mostly sideways day.

 

 

INTRADAY LOG

 

10 May 2013 09:20 am
Good morning. 25-24.75 was tagged for times since 7:30 AM and that should be important before the 20 level

10 May 2013 09:26 am
There's going to be selling into strength today, don't expect a rally to stick unless there is a good selloff into the afternoon.

10 May 2013 09:31 am
26-26.50 sold and should be good resistance, in trouble unless broken and held

10 May 2013 09:33 am
Bernanke speaking now, 26-26 150 area still key. A break 24 would need to hold on the downside

10 May 2013 09:40 am
27.50 high should be a top but if not then another pop-up to the 28 area should be sold into. If there is another break of 25 they could go for the low

10 May 2013 09:45 am
Bounces are not going to stick that for now 23-22.50 is important or that 20. Resistance at 25-25.50 area

10 May 2013 09:52 am
Pop up to 25.50 new support gave a pullback to 24 so far and if that's broken me to turn right up or getting some momentum

10 May 2013 09:56 am
25.50 was new RESISTANCE not support, the 24 level was broken and quickly turned up, a break under 23-22.50 needed to break down

10 May 2013 09:58 am
The market hasn't liked it up here this last trip but for now a pullback from 26.50-27 should hold around 25 and turn it right back up to continue this move

10 May 2013 10:02 am
29.50 resistance should be hard to get above and hold, could pullback towards 26.50 and then bounced

10 May 2013 10:04 am
The area would be 27.50-27 on a pullback if broken then 26 could be pivotal

10 May 2013 10:07 am
Pullback held 27.75, Potential for a double top at 29-29.50 area is rejected on this move

10 May 2013 10:10 am
A good spot to short around 29.50 second resistance, should be hard to get above and hold. 26.50 should be pivotal support, if broken then uptrend in danger

10 May 2013 10:14 am
Trying to hold 26.50, has by 1 tick so far, if broken then we could have a high in for a while and go back down towards 23.50, was little double bottom there also

10 May 2013 10:18 am
Back to the resistance at 29-29.50, market remains a vulnerable under that area. Should be hard to break and hold

10 May 2013 10:23 am
Back down to the 26.50-26 support, if broken then 25 would be next and could go for the lows

10 May 2013 10:32 am
Small support that 24-23.50 area and must hold there or continue dropping towards 22. Bounce resistance 26-26.75

10 May 2013 10:40 am
21.25 new low. This is not a good-looking pattern and a bounce will fail, 24.50 good resistance, if no turn there then 26 area strong

10 May 2013 10:46 am
24.50 reached and if not a drop from there then could possibly get to 26

10 May 2013 10:50 am
A pretty good turn up from 22.25, that should hold it going to avoid a breakdown. If 24.50 cleared then 26 area next

10 May 2013 10:57 am
Still cannot get above 24.50, another drop down to the 22.50 area should get good right back up again as something holding it up down there

10 May 2013 11:01 am
If the market rolls over from here then we will likely break yesterday's low before a bounce.

10 May 2013 11:08 am
Extended to the 26-26.50 area, if exceeded in no pullback, 27.50 next. No danger of a breakdown unless 23.50 broken for now.

10 May 2013 11:15 am
Tiny double top at 26.25-26 which is resistance, 27.50 if pushed through with some gusto. a break under 24.50 can get this looking toppy instead of decent uptrend

10 May 2013 11:21 am
Went to 22.25 and turned up but not with much gusto, NQ could lead lower

10 May 2013 11:26 am
If 23.50 is broken and then turn right back up. Sold into and still has pressure on. There has been buying on the pullbacks, just have a hard time that resistance areas

10 May 2013 11:34 am
27.50 just reached in a pullback should hold 26 to keep up trend from turning down.

10 May 2013 11:35 am
27.50 could be a bounce high, however if 26 holds in the ES turns back up then there may be one more push towards 29 area that fails

10 May 2013 11:44 am
No sign of stopping at 26 and they continued to 25 so far and likely back towards 23.50 if they bounce cannot take out 26-26.50 ounce resistance

10 May 2013 11:50 am
Market has basically gone sideways but sellers are in charge and it appears. Once again, bounces should not be able to stick, so look for another pop-up to sell and to.

10 May 2013 11:55 am
If this doesn't turn up from 22 stone then going for 20 and maybe the 18 area before a turn back up of some sort. A bounce here has resistance at 24.50-25

10 May 2013 12:03 pm
ES matched its early low that 21.25 right at noon, if there's going to be another decent bounce of several points it needs to hold there and push above 23, otherwise 20 area

10 May 2013 12:05 pm
I have a feeling this is going to take out 20 and go for a chain or maybe a little bit lower sometimes

10 May 2013 12:07 pm
If there's another decent bounce look to sell that as unable to hold meetings and has a downside bias today

10 May 2013 12:22 pm
Definitely need to retrain for a software. I will check for errors from now on but takes extra time getting info to you. Need a move over 23/hold or test 20 area. 3 lows there, bounce needs gusto if push above 23

10 May 2013 12:32 pm
Still seems to be buyers just below, but stalling out and wouldn't be surprised to see another pullback if this stays under 23.75 much longer

10 May 2013 12:36 pm
Two bounces of 6.25 points and that would take the ES back to the 26.50 level which was initial resistance and has been pivotal on number of times.

10 May 2013 12:38 pm
They probably are not going to get that far unless it's a pop-up and that likely not going to stick. Has to hold 23 right now or can break down

10 May 2013 12:45 pm
Bounce from 22.50 should push over 24 and stick if going to reach the 26.50 area on this leg up. 22 area key support

10 May 2013 12:48 pm
Another 1.75 points to go if point you reach 26.50. I don't think it's going to come 25 is going to be hard to get through/hold and sell bounce against that

10 May 2013 12:50 pm
22.50-22 area is support, a bounce keeps chance of 26.50 alive. If broken there can be a retest of the low again.

10 May 2013 12:54 pm
Needs to push through 25, another failure up here could be bad news for a break lower. I will be back with an update after 15 needs to push through 25 minute break

10 May 2013 01:00 pm
A break back under 22.50 needs to come right back up. This would begin to roll over if it is broken and they tell out to right back up. That's been happening quite a bit

10 May 2013 01:02 pm
If this can continue and push through 25 the ES could reach 26-26.50 area and pull back from there. 23 should hold that worst now if going to get there

10 May 2013 01:09 pm
Should hold 24 at the lowest of going to keep going to the 26.50 area

10 May 2013 01:11 pm
The market is going to avoid trouble as long as 23-22.50 area holds this afternoon.

10 May 2013 01:25 pm
So far 24 held on the pullback and should be making an attempt at 26.50 on this move if .2 get their

10 May 2013 01:29 pm
If the ES gets to 26-26 150 it should be sold into and pull back to 25.50 or so, if still strong them will say over 24.50

10 May 2013 01:36 pm
26.50 was tagged and the ES quickly backed away and if 25 is broken and that turned right back up that can be a bounce high for another decent sized pullback

10 May 2013 01:40 pm
So far 24.75 is the pullback low and have high in place at 26.50 target/resistance and 23 area so she on move lower

10 May 2013 01:46 pm
24.50 is as far as pullback supposed to go if still strong, and doesn't appear getting over 26.50 and holding is doable. But expect another pop to fail

10 May 2013 01:58 pm
Quickly turned back from 26, will need to keep going lower and break that 24.50 area to break down some

10 May 2013 02:01 pm
Be a seller on a bounce, a high at 26.50 and then 26 rejected and 24.50 broken by 1 tick. A chance to test 25.50 or a bit higher unless broken

10 May 2013 02:03 pm
I am going to be cutting out early today, around 2:30 PM, my apologies. I will leave some instructions to anything concrete before leaving. Right now sellers and control under 25.50

10 May 2013 02:10 pm
25.50 was cut right through and a retest of 26.50, look to buy a pullback as long as it holds around the 25 area. 27.50 upside

10 May 2013 02:14 pm
If this is going to continue strong and eventually tried for the 29.50 resistance area that was rejected earlier, then shouldn't go under 25.50 on a pullback the way it looks. May not get there, 27.50 good resistance in the way

10 May 2013 02:19 pm
If there is another bounce from up here, it will definitely be sold into. If we are going to get back to the 27 area than 25 needs to hold at worst it appears

10 May 2013 02:27 pm
25 is the pullback low and turned up and test of 27-27.50 should be sold into

10 May 2013 02:32 pm
I will stay a bit longer to see if we can get to 27-27.50 for a reaction of some sort, then will be calling it a day/week. Needs to get up there soon and back away a bit,

10 May 2013 02:34 pm
There could be about a 1.50-2.00 point pullback and that should be as far as one goes to the uptrend is going to stay intact.

10 May 2013 02:39 pm
Needs to break the double top at 27 now and then 2750 from earlier to get anything going on the upside. I hope you have a nice weekend and a happy Mother's Day.

 

 

May 9th 2013 Market Action

INTRADAY LOG

09 May 2013 09:25 am
Good morning. Bouncers not able to stick today. This is going to be vulnerable unless 30 is broken/held.

09 May 2013 09:29 am
If that's broken over then comes back down. A decent pullback probably snapped right back also, 22.50 looks to be very important. 26.50-26 first support, minor.

09 May 2013 09:33 am
Yesterday's high touch again and rejected and a drop under 27.75 hits downside

09 May 2013 09:33 am
Another pop up will be sold into,

09 May 2013 09:39 am
Bounce from 27.25 rejected 29.25 for the third day, this must stay over basically 27.50 or could break down. Forget over 29.50 and not reverse. A short under 29.50

09 May 2013 09:39 am
Or wait for the breakdown and then sell the first bounce

09 May 2013 09:42 am
Pushed over 29.50 and will need to hold over 30, not pushover and come back down, 28 area needs to hold at the lowest right now

09 May 2013 09:46 am
28 held and got a pop up that needs to get above 30 and hold up there

09 May 2013 09:49 am
This is a short on bounces under 29.50-30 area, support at 27 then 26 area, then 22.50

09 May 2013 09:52 am
A 3 point drop to a new low, 27 held in that area needs broken to do some damage to the charts this morning

09 May 2013 09:55 am
If just a small pullback or run up from 28 area could get short squeeze and take this over 30 for some pullback

09 May 2013 09:58 am
28.50 held so far and shouldn't go much further if it's going to make another push higher to the new high

09 May 2013 10:00 am
Against the trend A short under 29.75

09 May 2013 10:02 am
28 and then 27 are key levels here

09 May 2013 10:07 am
Top star in and any bounce from here will be sold into, this can go for 22.50 if the 26 area is cut through

09 May 2013 10:11 am
Decent dip little double bottom. If 27 doesn't turn this back on a bounce than 28

09 May 2013 10:13 am
This will stay under pressure under 27 but shouldn't go too much further before bouncing back, 25-24.50 at the lowest unless going for yesterdays late low around 22.50

09 May 2013 10:17 am
27 turned a bounce back a second time. Looks like 26 has to hold or a low will be broken through, instead of popping up from here.

09 May 2013 10:19 am
If no bounce over 27 then the market headed lower possibly towards 22.50 if it gets momentum

09 May 2013 10:22 am
Bounces are not going to stick, 24.25 next level to break and hold if going to the 22.50 area

09 May 2013 10:33 am
A push above 25.25 could start a little run-up. The 27 area could be pivotal on bounce attempt is reached,

09 May 2013 10:39 am
So far bounce to 26.50, pullback should hold 25.25 at worst to keep this upside intact

09 May 2013 10:41 am
This miss Resistance on the bounce and pullback to 26.25 a low slow for, they turn up from here needed to get rally going and not break down for new lows

09 May 2013 10:43 am
That was a pullback to 25.25, not 26.25. That 25.25 level must hold or breaking down again

09 May 2013 10:51 am
Stall out just under 27 and should pullback and break 25.25 if going to have another decent pullback

09 May 2013 10:55 am
Need to break under 25 and not get back over 25.75-26 at highest to keep pushing lower towards 24 or low

09 May 2013 10:58 am
25 was reached in a bounce to 26.75 was sold and can go a bit lower but doesn't look like a lower low is in the cards just yet. 24.50 should hold

09 May 2013 10:59 am
If there is going to be another bounce even if just a small one

09 May 2013 11:04 am
24.50 was held in getting another push higher, this should continue a bit longer even if after a small pullback in try getting through 27

09 May 2013 11:12 am
The only way this keeps going it is pushing through 27 and then holding on a small pullback to attempt test of the high, has to hold 25.50 and pushed through 27 with momentum

09 May 2013 11:17 am
27 low around 9:50 AM, at 10:15 AM it was a bounce high before drop to the low, and tested three times up here, and must be acceded to avoid more downside

09 May 2013 11:21 am
24.50 the bottom of this area needs to get a bounce started, if not then 23.75 below can break 22.50 could get a visit

09 May 2013 11:28 am
24.75 held and backed up to test 27 area, if it's going to push through it should own this time

09 May 2013 11:32 am
A pullback should be 1.25-1.75 points at most and then bounce back again the way this is acting. 26.50 is a small support

09 May 2013 11:38 am
If no bounce from here then back down towards 25-24.50

09 May 2013 11:40 am
Upside could be a pop up towards 28 area then pull back again. Wouldn't overstay that area

09 May 2013 11:52 am
Upside lost its luster here, pressure on below 20 7S that area looks to be pivotal

09 May 2013 11:55 am
Should be buyers around 25.75, if not there then 25 area needs to hold and turn this back up, or a breakdown under way

09 May 2013 11:58 am
NOTE: I'm going to be away for about an hour starting around 12:15 PM. I will update as soon as I read turn.

09 May 2013 12:00 pm
Right here it looks like a pullback is going to be bought and could make it over 28 as long as 26 area holds

09 May 2013 12:05 pm
Similar to yesterday this time with 27.50 acting as the strong resistance. Should have a break lower from 27.50. Needs to be cleared/held on a dip to breakout higher

09 May 2013 12:07 pm
26-25.50 needs to get a bounce or they can begin to get hit a bit harder towards 24.50 area

09 May 2013 12:21 pm
26 broken as 27.50 is afternoon high at least for quite a while and if 24.50 gives a bounce look for resistance around this 26 area that was just broken

09 May 2013 12:24 pm
Reached the 24.50, bounce resistance around 26-26.50 and shouldn't be taken out unless market going to try to break out over 27.50

09 May 2013 12:26 pm
I will be back around 1:15 PM or thereabouts. I will update as soon as I am back

09 May 2013 12:45 pm
Another rejection of 27.50 area, this pullback needs to hold 26 at the lowest if going to attempt a push through

09 May 2013 01:02 pm
A pullback to the 27.50-27 area should be bought if it goes back there. A move over 29.50-30 Resistance would need to hold or could be reversal there

09 May 2013 01:08 pm
New highs on the Dow and the NQ but not the ES so far. This has to stay above 28.50-28 area Tuesday in a strong uptrend

09 May 2013 01:15 pm
The way this is acting if 29-28.50 hold this can grind higher through 30. If that area is broken and not turn right back up, can go down to the 27.50 area

09 May 2013 01:19 pm
If 30 is broken, next levels are around 33 and then well up there at 38. Not going to see that. 28.50 support now

09 May 2013 01:29 pm
Appears to have run out of steam after touching 30, 29 area needs to hold war can go for 28 and maybe lower if picking up momentum and not just a dip

09 May 2013 01:31 pm
29.25 area now a key support that should hold, there it is a chance of turning down from 30.50 but if not then 33 next

09 May 2013 01:36 pm
A pullback will hold at 30-29.50 prior resistance to keep this pushing higher towards 33.

09 May 2013 01:44 pm
So far holding 30.50, that can turn into a key level on a pullback now on the way to the 33 area

09 May 2013 01:47 pm
still in a buying frenzy with all the dips being bought, and 30.50-30 should be defended now to keep this strong uptrend going. 32.50-33 area can be sold into if reached

09 May 2013 01:57 pm
Need to bounce their from 30.50, but the next bounce probably sold into around 32.50-33 has reached. If 30.50 broken 29 needs to hold

09 May 2013 01:59 pm
Haygood bounced back off of 30.50, it's a buying frenzy so careful on the short side until a change of trend. 30.50 still a key support that's potentially pivotal

09 May 2013 02:07 pm
Double top in place even though still holding 30.50-30.00 area, and another bounce should be sold into

09 May 2013 02:16 pm
30.50 broken and now resistance on this bounce, needs to get back above that and hold. A break under 29 would need to quickly reverse or reversal possible

09 May 2013 02:22 pm
30.50 held on the bounce, keeps the pressure on for more downside unless broken and held and 27.50 would be key below

09 May 2013 02:30 pm
29.50-30 area was Resistance on the way up and acting as strong support on pullback there, this little buying frenzy continues as long as that holds the rest of the day. If broken things could change

09 May 2013 02:33 pm
30 should be quickly reverse if going to make another push higher towards 32 and not fail. NQ leading lower or now

09 May 2013 02:37 pm
Pretty steady break to the 29 level so far and now needs to turn up quickly or headed towards 27.50 on this leg down

09 May 2013 02:41 pm
Topping may take another day, or its already in and the market headed another towards 1618 possible sometime tomorrow especially if a close under 27-26 area

09 May 2013 02:42 pm
26.50-26.25 is where the buying came in with gusto right around 12:50 PM, one reason that key

09 May 2013 02:49 pm
Turning kind of ugly and the early lows around 24.50 would be next and that would need to hold

09 May 2013 02:53 pm
If no reversal from 24.50 backup through 26 area, probably going for the 22.50 area from yesterday and possibly a bit lower as this doesn't look very good at the moment

09 May 2013 02:55 pm
Turned out from 24.25 and needs to push through 26 and hold to put a dent in downtrend for a bit

09 May 2013 02:57 pm
This is a top or is topping if happens to be revisited which is doubtful, market should be going towards the 1618 area or a bit lower than that before they bounce, if not today then tomorrow

09 May 2013 03:04 pm
Selling started around 2:32 PM and ended at 3:02 PM so far. Bounce has resistance at 24 area to clear/hold to take pressure off

09 May 2013 03:08 pm
This can get back to the 25 area but should have some trouble there if going to have another pullback this afternoon

09 May 2013 03:14 pm
Stalling at the 24.50-25 that was Spike down support earlier in the day, needs cleared to try going higher and not roll over

09 May 2013 03:17 pm
Could have the low and high of the day in

09 May 2013 03:24 pm
24 area needs to hold as support to keep uptrending going in the last 30 minutes, if not held then could go back towards 22 and possibly test low but not real likely given recent action

09 May 2013 03:29 pm
Odds are better that some pullback would be bought unless the market is going to have a couple of days on the downside. Watch the 26-26.50 end on the day, those were the most power on the upside started today. 31 on top, a ways up there

09 May 2013 03:29 pm
Have a good rest of your day, I will catch you tomorrow but shortly after the open

May 8, 2013 Market Action

INTRADAY LOG

08 May 2013 09:25 am
Good morning. Don't expect today to be on the other 8-10 point rally. Should have two-sided action and bounces not able to hold. 1615.50-1615 key support

08 May 2013 09:31 am
20.50 needs cleared and held or going to test

08 May 2013 09:33 am
20.50 sold on a second bounce, need to stay over 19 or can put pressure on

08 May 2013 09:41 am
First pullback not very far yet, small buying at 18.50, 19.50-20 support now resistance that needs cleared/held on pullback -- not sold into

08 May 2013 09:45 am
Needs to hold around 20-19.50 to continue higher. Much further than that would roll thinks over

08 May 2013 09:50 am
If 20 area isn't held down a drop to 19 area would need to hold or the market can get hit pretty hard. Holding 20-19.50 can keep up trend

08 May 2013 09:54 am
A little dip down to 1620 turned right back up and at yesterday's high, if 20.50 area holds then 23-24 possible

08 May 2013 09:58 am
ES turn down from 21.75-22.25, but as long as 21 holds still can go for the 23-24 area than reverse/pullback of some sort.

08 May 2013 10:04 am
A pullback should be small and hold around 22.50-22 area to continue pushing higher,

08 May 2013 10:08 am
Topping out and needs a strong bounce, not feeble bounce attempt from 22 or a bounce that follows will be sold into

08 May 2013 10:10 am
Pullback held just over 22 so far, they've moved up to 1624-25 should be about as far as this goes for a while

08 May 2013 10:18 am
24 was rejected but buyers came in on a small dip. A break of 22 needed to change that trend

08 May 2013 10:21 am
If the ES gets back to 1624 area expects on selling, has broken 22 area which is key, but upside extended and little left to go

08 May 2013 10:24 am
At least before a decent pullback of some sort. Too straight up for this to be a trend day again and not have some decent countertrend action

08 May 2013 10:33 am
The ES hasn't been able to hold over 24 more than a millisecond, should be decent pullback if not exceeded/held soon. 23 needs help or breaking

08 May 2013 10:37 am
This is relentless, another pullback should hold 24-23.50 to continue strong uptrend. If broken then dynamics could change.

08 May 2013 10:40 am
24.50 prior why

08 May 2013 10:42 am
1624.50 prior why is now a minor support and should hold of going to stay in a buying frenzy. 1624-1623.50 must hold or things change

08 May 2013 10:51 am
24.50 was held for about 10 minutes and pop up to 1625.75, that was promptly sold and now 1625-1624.50 will need to hold to keep buying frenzy

08 May 2013 10:53 am
The new highs are not holding, if another push higher from 25, look for that to be sold and could be start of decent drop from up here when this trend breaks

08 May 2013 10:58 am
This should be about it for this rally. If no bounce from 25-24.50 then has rolled over and go for 22.50 key area

08 May 2013 11:00 am
24.50 likely will be broken but even if a bounce from that area that will not hold, but set up a short again

08 May 2013 11:07 am
So far 24.50 able to hold and give a bounce but not going too far, if that is broken then the next support would be down around 22.50.

08 May 2013 11:09 am
If there is one more run up to take out 26 it would likely stop around the 27.50-28.50.

08 May 2013 11:17 am
As long as 25.50 area is held above the ES should go another 1-2 to the 27.50-28.50 area and maybe a little bit more

08 May 2013 11:21 am
New high rejected like all but one has done today, but no reversal of trend unless a break/hold under 25.50, especially 24.50. 27.50-28.50 possible otherwise before a pullback, if just the small one

08 May 2013 11:41 am
Market still wants to push higher, no dent in the up side yet until 1625.75-1626 prior high

08 May 2013 11:48 am
If they stall here and break 26-25.75 area, could begin decent pullback. The NQ turning down would help get that going

08 May 2013 11:53 am
45 minutes in a 1 point range on the ES, after a straight up run. Needs to hold 25.75

08 May 2013 12:00 pm
Popped outside of the range at last, needs to stay above 26.50 area to keep upside going

08 May 2013 12:20 pm
27.50-28.50 area reached in the market acting tired up here, doesn't mean there will be buyers at lower levels however. This can go down to test 26 at worst Tuesday in decent shape

08 May 2013 12:27 pm
The NQ had a spike up in quick turn back now, and the ES is struggling, they short trade for a scalp and possibly more with better entry on pop up

08 May 2013 12:33 pm
If they bounce from the 24 point. Look for resistance around 26.25-26.75 at best

08 May 2013 12:51 pm
24.50 was able to hold and now the 25-24.50 area should be an important support to hold, so far bounce made it to 26.50 resistance, IF broken/held through, could test the high

08 May 2013 01:00 pm
Bounce back to resistance not real enthusiastic but needs to bounce from 25-24.50 at worst or downtrend would begin

08 May 2013 01:07 pm
As long as 26.25 holds on a dip this uptrend stays intact to make a slightly higher high

08 May 2013 01:13 pm
Tested the high and pullback held 26.50 so for, it stays bullish unless that's broken and not turned up quickly

08 May 2013 01:24 pm
At a fixed resistance that has stopped market last time. A pullback should hold 26 area to keep the market in a strong position

08 May 2013 01:29 pm
With double top in place the 26 probably more important, if broken then 25-24.50 should be key support. .

08 May 2013 01:31 pm
If that support holes and dull top is broken through then the ES could try for the 30 area or thereabouts

08 May 2013 01:34 pm
Pullback stalled at 26.50 support in popped up one point so far, new highs have been quickly turned back. If this one is not it's going to 30 area

08 May 2013 01:42 pm
Triple top now at 27.50, and almost 216 on pullback. If no bounce there then chances are ES is headed back to the 25-24 area before a decent bounce is still strong

08 May 2013 01:48 pm
Could bounce there but likely not going to stick, as has failed at 27.50 tested three times afternoon

08 May 2013 01:59 pm
If no sign of a turn from 25-24.50 as there should be, then market changing character and 22.50-22 area would be next

08 May 2013 02:20 pm
The pullback low was made at 2 PM but having a bit of trouble getting a bounce going. As to get above 26.50. And not turn right back down to get another run up. 25-24.50 area key support rest of the afternoon

08 May 2013 02:28 pm
This could bounce a bit more but I am not interested in the long side so much, pop-ups being sold into and a break of 25 by much could bring quick drop

08 May 2013 02:35 pm
This should be going to at least a 22.50 area and down to the 19-18 area not out of the picture if nothing happens around 22

08 May 2013 02:42 pm
Pressure is still on holding under 24.50 which was support, if that is taken out than a bounce towards 25.50-26 COULD occur and that should be sold into

08 May 2013 02:43 pm
22.50-22 area still a target/support below and then the 18.50 area

08 May 2013 02:47 pm
Almost to the 22.50-20 area, if not able to bounce with gusto and to get above 24.50, this is still likely going for the 18.50 area

08 May 2013 02:48 pm
22.50 target met and held,

08 May 2013 02:49 pm
Needs to get above 24.50 and not turn right back down to get out of trouble for a bit

08 May 2013 02:55 pm
Selling out of picked up pace from the 26 level. If 24.50 is pushed above look for resistance around that area, that lower high likely sold since 27.50 rejected 4 different times

08 May 2013 03:03 pm
If there is going to be another drop it should come soon and from under 25 it appears

08 May 2013 03:06 pm
If they poke above that 25 level, then 26 should be sold if we. 27.50 is huge, tested on 5 different occasions today

08 May 2013 03:10 pm
Need to see 26 rejected or show some reversal, 24.50 area support again that needs broken to get anything going on downside

08 May 2013 03:13 pm
26 rejected and should be a bounce high if going to have some pullback in the last hour

08 May 2013 03:14 pm
If that's cleared and held than 27.50 key for the day, 5 times tested and 5 times rejected today -- so far

08 May 2013 03:20 pm
27.50 is a key area up here, rejected five times so far. Can go for 30 if they exceeded and not turned right back down

08 May 2013 03:22 pm
Looks like this will be okay at the end of the day as long as the 26-25.50 area holds on a pullback from up here. If they come back down and close under that, it would look bearish

08 May 2013 03:28 pm
26.75 area is trend/ pullback support at the moment and needs to hold their work could head back towards 25 area before closing, instead of ending strong

08 May 2013 03:31 pm
Have a good rest of your day. Why will "see" you here tomorrow sometime around the open.

May 7, 2013 Market Action

Today the market opened up just above our first resistance area. It came down to tag it and made a run for the second resistance area. Selling hit the market there and a strong push down thru the 1615.00 area to the 1612 support zone. Buying came in at the initial support and the market busted through the 1615 resistance. A test of the 1615 resistance now support followed, which was a good place to get long for a move back up to the 1620 area. The market ended up breaking the next resistance at 1620 and then it turned to support and a test there was another spot to get long for a couple of points. Check out the chart below and notice where the arrows point to the way the market reacted to the support and resistance levels. Knowing the levels is one thing , and trading around the levels is another. The ebook shows you the setups I use to trade around the levels. Pick up a copy today.

INTRADAY LOG

07 May 2013 09:20 am
Once the ES got back above 1612 area and held the pressure was off. And open up here would be a gap on the daily chart and should drop to 1615 and that needs broken/held for some sort of pull back

07 May 2013 09:22 am
Overbought could get a bit more overbought so going to be careful fighting the trend and momentum. But there should be some selling

07 May 2013 09:25 am
One early pop up stalls/reverses and if not from this "pivot resistance" at 1616.33 then not much higher

07 May 2013 09:28 am
Also the market has decided that from now on every Tuesday will be an up day. Ha ha. I don't think bounces will have it easy holding anyhow

07 May 2013 09:36 am
The gap at 15.25 was touched and this bounce should stop below 1619 on this first push higher

07 May 2013 09:39 am
1616.50 will be the first important support on a pullback from

07 May 2013 09:42 am
If this does punch up to the 19.25-20 area it should be reversed or we have buying frenzy going

07 May 2013 09:43 am
That should be a top just under 19 and especially if 16.50 doesn't hold. If another run up then that zone should get tested

07 May 2013 09:48 am
Pullbacks held at 17 and pop up 17-16.50, that will be pivotal and must hold things change. 19-20 should be hard to get through/hold

07 May 2013 09:52 am
19 reached so far, 17.50 should be important on pullback

07 May 2013 09:56 am
17.50 needs to give a strong bounce or a high could be confirmed and market begin rolling over.

07 May 2013 09:59 am
So far 17.75 able to hold, no turn to the downside unless that is broken and not quickly turned back up

07 May 2013 10:03 am
That 19.50 is still right in "resistance" zone given by one method for "resistance", a break of 18-17.50 would begin reversal process

07 May 2013 10:04 am
Top is in for now and if 17-16.50 doesn't give a bounce than down to 15 or lower

07 May 2013 10:08 am
The NQ was hit pretty good and could lead this lower, it could get hit harder if the doll begins to weaken. 1617.50-1680 area resistance

07 May 2013 10:12 am
A break back under 1615 is going to make this look kind of bad and go for the 1613.75 level or lower

07 May 2013 10:14 am
1612.50-1612 area would be next. Resistance around 1615.50-1616.25

07 May 2013 10:17 am
1613.75 broken by one tick and turned up, can give a bounce back towards 15.50 16 area but should fail if going lower

07 May 2013 10:19 am
1612 should be in the cards and if no bounce there were just a tiny one that fails there can be another air pocket towards 1608

07 May 2013 10:21 am
Now this is more like what I was expecting. 1612 easily reached, steady selling since 10 AM high. Should have low in for bounce to 15 area which should be key

07 May 2013 10:30 am
A bounce to 1615.25 stalling out, needs A move above 15 that holds could give a push towards 16.50-17

07 May 2013 10:31 am
14 is a small support and if a bounce from their then we can see one more little pop to the upside. If broken then they slide down towards 12 or lower

07 May 2013 10:36 am
14 held as the first decent pullback continues a bit higher from the 1612 area. Resistance that 16.50-17, and 14 area key support now before the low

07 May 2013 10:41 am
16.50-17 area reached. needs to push through held. Up trend breaks if 15 area unable to hold on pullback from 16.50

07 May 2013 10:41 am
Next update in about 10 minutes or so

07 May 2013 10:53 am
1617 was reached in the grind higher and this can continue unless 15 point. Broken and not turned right back up

07 May 2013 10:54 am
Another bounce should be sold into

07 May 2013 10:56 am
So far the pullback support held and bouncing button 82 pushed through 17 and stick, not turn right back down

07 May 2013 10:59 am
The ES has rolled over in the 15th 15 area is key on this pullback, if no bounce from that area then could test/break below

07 May 2013 11:07 am
The ES bounced off of 15.25 and made it back to 1617 and the backing off a bit again. Still need to break 1615 to get this turned back down

07 May 2013 11:20 am
This is stair stepping higher the way that these grinding rallies have gone lately. If 16 area not held, a high will be in but if held and this continues grinding higher could retest high

07 May 2013 11:26 am
A hold over 17.75 needed or could start breaking down. They move over 17.75 could bring in more buying to test high

07 May 2013 11:30 am
17.75 to tell to get through. This pattern leaves the market vulnerable for another decent pullback but needs to break 16 at least to get downside going.

07 May 2013 11:41 am
Pullback held right 1616.25, so no damage done yet to this choppy uptrend off of the low. Holding 16 area key support for now, to continue grind higher

07 May 2013 11:53 am
Turned up from 15.75 but still will have pressure on unless the 17.25-17.75 area Gets pushed through

07 May 2013 11:57 am
A bounce from the 15 support but not very strong and market stays under pressure under 16.50, or 217.50-17.75 especially,

07 May 2013 12:05 pm
Not expecting this bounce to break/ hold 17.75, but market is acting better and can bounce back up if 16 holds

07 May 2013 12:08 pm
Well, as long as 16.75 holds this can push through 17.75 and maybe go for a test of 19 or so, not state out there for very long

07 May 2013 12:17 pm
1617.75 was pushed through what should have trouble holding, if they drop to 16.50 area Would need to bounce right back or market headed to 15 began

07 May 2013 12:32 pm
The NQ rolling over of the more than the ES and could lead the way lower, ES needs to stay over 17 area or break towards 15 again

07 May 2013 12:39 pm
Almost 25 minutes in this trading range. 18 on top and 17 on bottom. 18 was an earlier also. They push above 18 and can hold

07 May 2013 12:41 pm
That breakout occurred just after I pressed the send button, in any case 17.75 mile support that shouldn't be broken to continue higher. 17.25 key support

07 May 2013 12:46 pm
19.25-20.00 was rejected early and that is being retested and a pullback should go no further than 17.75 Tuesday in decent uptrend

07 May 2013 12:51 pm
18 held this back while trading and that one point range for about 30 minutes, that should hold as support to keep uptrend intact for now

07 May 2013 12:59 pm
Made it to 1620 so far, pullback should hold 19-18.50 or uptrend will be interrupted. The next resistance around 23 area if 20 happens to be exceeded/held on the dip

07 May 2013 01:03 pm
20 was sold and that will be hard to get through and hold, look for pullback to 18.50 area to turn up to this is going to stay strong

07 May 2013 01:08 pm
Now it's 1819 area that needs to hold two continues from, the tips have been around one point since starting this last move from 15

07 May 2013 01:12 pm
The trend up action double top just under 20 and that should be a top for a while, but NQ weaker and better on shorts the ES better on long trades

07 May 2013 01:14 pm
19-18.50 needs to give quick bounce back up on the ES or that will begin to roll over a bit

07 May 2013 01:16 pm
An uptrend, so as long as that support holds it should be bid back up. Must hold on one more test

07 May 2013 01:24 pm
Some selling off of token higher high, another pop up will be sold into also, needs to bounce from 19 or could have some trouble and potentially reverse

07 May 2013 01:26 pm
18-17.50 area will be next important area on the downside if a pullback that's not just ~1.50 points. Otherwise another try at the high possible

07 May 2013 01:33 pm
Another pullback should turn up from 19 area, to stay in a strong trend up move. Selloff lasted 20 minutes and was pretty normal 7.25 points and back up again

07 May 2013 01:37 pm
Should be a trend to be the way this is acting, but we will see around the 23 area if reached. Support now around 20.25-19.75 area, shouldn't break that

07 May 2013 01:44 pm
This can work its way towards the 1622.75-1623.25 area if a hold about 20.25.

07 May 2013 01:45 pm
That should be key to this strong uptrend, should stay over 1620 as resistance turned support

07 May 2013 01:46 pm
Next update in about 10 minute break.

07 May 2013 01:51 pm
Might be running out of steam and pullback towards 20.25 and would need to bounce right back from that area or continue on lower

07 May 2013 02:00 pm
If they hold under 21 there is a chance of a breakdown to at least 20 and then that must hold and bounce back or we can have a deeper pullback. But

07 May 2013 02:02 pm
If 21.50 is reached and 21 can hold on a dip, then upside can reestablish itself and go for 23 area

07 May 2013 02:08 pm
It looks like just by pullbacks above 20.50-20.00 for now, that is the key support that should hold to keep upside intact and trend up mode.

07 May 2013 02:09 pm
If that area is broken instead, especially not getting over 21.50, then things can be changing and pullback for 15 minutes or so

07 May 2013 02:20 pm
The NQ had its high early at 2956.75, that along with 1623 on the ES would be a good resistance if reached. May not get there at no bounce from 20.50 over 21.50

07 May 2013 02:24 pm
20.50 holding so for, 21-21.50 area should be sold on a pop up if going to have some selling. If that area exceeded then 23 still possible

07 May 2013 02:30 pm
The NQ having some trouble as is the A break of 20.50 that doesn't reverse right back up means decent pullback towards 18 area possible

07 May 2013 02:37 pm
Could be a bounce attempt, but it not much gusto it will be right back down and head towards at least 19 maybe lower that that

07 May 2013 02:39 pm
20.50 prior support now resistance on a bounce, the 2949.50 area on the NQ.

07 May 2013 02:57 pm
There could be a move above 21.50 if this can stay up 20.25 at the lowest, as to spurring higher from there if there's going to be another move higher

07 May 2013 02:58 pm
The move just started and should make a token hire by at the least before pulling back

07 May 2013 03:02 pm
Token higher high made, should see some pullback but still continued uptrend as long as 20.50 area is filled

07 May 2013 03:15 pm
20.75 then 21 able to hold and should try to grind higher, just would look for new high to be sold, not sure about closing direction but it hasn't been basically trend up

07 May 2013 03:15 pm
And as long as stair step higher continues uptrend stays intact. 21-20.75 area should hold as support work could be some late pullback or selling into strength and least

07 May 2013 03:21 pm
This basically turned up move will have some early selling tomorrow maybe some lawyer to this morning being at new high territory,

07 May 2013 03:26 pm
Pullback held at 20.75 so no breakdown, NQ weaker. Could go either way, but buyers in charge holding 20.75. If broken and not turn back up then could drop down to 19 or thereabouts

07 May 2013 03:27 pm
Have a good day and I will see you here tomorrow a little bit after stocks open unless something unusual overnight

May 6, 2013 Market Action

Today the market opened up right at the 1612 resistance area and quickly came down. It didn't quite make it to the 1608 area and ran back up to break through the 1612 resistance. A higher low followed which propelled the market to new highs for the day and then holding above the 1612 area. That was the clue we were going higher still and it setup a nice long opportunity for at least 2-3 points. Support and Resistance trading has worked in the past and will continue to work in the future. It is how I trade and I can show you how. Pick up a copy of the ebook and get two weeks free to the support and resistance numbers so you can trade like a pro as well.

INTRADAY LOG

06 May 2013 09:28 am
Good morning. I'd be careful jumping in long up here, there's going to be a decent pullback soon. If 1608.50-1608 broken and doesn't turn up

06 May 2013 09:29 am
Things will be changing. But looking for some profit-taking, indicators close to extremes and near selling territory

06 May 2013 09:34 am
This can keep its underlying bid unless a pullback to 1610 doesn't bounce right back

06 May 2013 09:35 am
If it's going to get sold early than 1612 should turn it down and break through 10.50

06 May 2013 09:39 am
12.25 was sold but not in place unless 1610.50 broken-another push would put it through 1614

06 May 2013 09:41 am
Quick pop up to 12 and turned back down, that might be it for now on the upside and 1609. Next

06 May 2013 09:45 am
A bounce from 1609.75 should have trouble around 1611.50 if going to have another pullback to test break 1609-1608 area

06 May 2013 09:52 am
1609.50 able to hold so for, there could be another push higher -- that fails -- as long as that is held. A break would mean 1608 area next

06 May 2013 09:53 am
10.50 should be a pivotal resistance that would need to be broken/held on a dip to try to get upside going

06 May 2013 10:00 am
1609.25 reached and holding on 2 attempts, could pop up to 1611 or a bit higher then pull back again at the lowest not in place

06 May 2013 10:07 am
The ES popped up to 1611 and then a dip to 1610 was bid right back up, low area around 1610-1609.50 shouldn't be broken if the market is going to stay strong

06 May 2013 10:14 am
Stalling out just under 1612 but need to break 1611 to attempt reversal

06 May 2013 10:19 am
It's going to be hard to get above 12.50 and hold up there. Could be one more bounce from 1611 but likely not stay over 1612.50. 1610 would be next to break down

06 May 2013 10:27 am
ES made it to 1612.75 but couldn't stay there and pull back to 1611.50, that area key support on another dip. Would need to break/hold under 1611.50

06 May 2013 10:28 am
To break the uptrend for now. 1614 area next resistance

06 May 2013 10:32 am
If the market internals closed the day where they are now, it will put internal gauges into sell territory. This bounce looking tired here

06 May 2013 10:34 am
More of a choppy grind higher with sellers around new high, the 12-11.50 area needs to hold on the next pullback to keep upside intact. Thats key. 14.25 next above

06 May 2013 10:40 am
Test of high sold again. But still going to need to break 1612 area and not turn right back up to top out up here. Cash indices topping

06 May 2013 10:44 am
12-11.50 area reached, Needs to come back up with gusto, 1610.50 key below. 14.25 area would be sold

06 May 2013 10:51 am
New support that 1612-1611.50 broken through, 1612.50 resistance on a pop-up, 1610.50 is a key area must hold or go for 1408 possible

06 May 2013 10:56 am
With indicators currently in sell territory, and will be that the market close up here. Can bounce from lower, but favoring short side for now

06 May 2013 11:00 am
Should go for 1608.50-1608 before decent bounce attempt. The key resistance on a bounce 1611.25-1611.75 area

06 May 2013 11:11 am
Would need to get back above 1610.50 and holds above that level, then a little bounce could occur but not stick. Pressure on under 10.50

06 May 2013 11:17 am
10.50 will need to hold to get to 1611.50-1612.25 area, transition area from earlier, should have selling there if going lower

06 May 2013 11:28 am
Going to be a two-sided day, 1610.50 broken/held and a nudge higher to 1611.50-1612.25 area sold into. That is key resistance still and 1610.50 support, that looks key to this move breaking down again

06 May 2013 11:33 am
Must hold 1610-1609.50, if not then 1608.50 or lower before a bounce of some sort

06 May 2013 11:37 am
If they pop up again from this support it will be another shorting opportunity. Should have trouble holding over 1612 if broken

06 May 2013 11:47 am
Market keeps getting buyers on pokes just under 1610, a narrow range today but as trends not damaged long as 1609.75-1609.25 holds

06 May 2013 11:51 am
12.50-13.50 should be sold into, and then pullback must hold around 1611.50-1611 at the lowest if a pullback from that area

06 May 2013 11:58 am
Likely going to test the high or go for the 1614.25 high from Friday. If that's not taken out it will be an inside day, but probably will get tested as market acting strong

06 May 2013 12:00 pm
At the moment anyhow. A narrow range day still and should be selling if they move to 1614 and stall/reject that area. 1612 needs held

06 May 2013 12:22 pm
Just missed getting to 1614 & came in, pull back needs to bounce from 1612.50 or getting week and next bounce will fail

06 May 2013 12:37 pm
1612.50 is: and shouldn't go much further or well drop towards 11.50 or so. As long as 1610 holds the move is just a pullback. 1614.75-1614.25 still needs broken/held to attempt more than just two-sided action

06 May 2013 12:41 pm
Next update after about 15 break

06 May 2013 12:54 pm
It has been slow trading in a narrow range but since 1612-1612.50 broken and able to hold, that is going to keep market out of trouble as long as that holds

06 May 2013 01:02 pm
Okay, top of the range tested and sold down to 1612.75. Trying to hold, if broken and not turned right back up then could go to 1611 or lower

06 May 2013 01:14 pm
So for 1612.50 continues to hold. If broken and not turned right back to it could get a little momentum and fall to 1611 possibly 1610 area around the low. 14.25 if a pop higher, lower odds, would be sold

06 May 2013 01:23 pm
Market still in decent shape as long as 1612.50-1612 able to hold. Needs to get a push above 14 pretty soon if this is to have a chance to extend upside a bit,

06 May 2013 01:30 pm
1612.50 held twice and 1613.75-1614 sold 3 times. A breakout should be to the upside but likely have trouble holding.

06 May 2013 01:34 pm
1614.25 get a test and then a bit of pullback ~3-4 ticks

06 May 2013 01:35 pm
13.75-13.50 area from where the breakout started needs to hold as support now to keep up side from reversing

06 May 2013 01:39 pm
1613.75 reached so far and should go much further if going back up to test the high. A test should be sold

06 May 2013 01:46 pm
Still holding 13.75 but if broken then back towards 12.75 which is key area now

06 May 2013 01:56 pm
1613.75 held and ES tested its high, there is no "real" resistance in all time high ground, only a couple of other ways to get numbers

06 May 2013 01:57 pm
1616 is one, but that should be hard to get through and stay up there today. If not then 1618

06 May 2013 01:59 pm
1614.25 should be good support on a pullback now, should I go much further or getting a bit weaker than should be

06 May 2013 02:06 pm
1614.25 able to hold so for butt if broken the next pop-up will be sold into, 1613.75 and then 1612.50-1612 and of the day

06 May 2013 02:11 pm
All of the pullbacks have been holding at the new support areas and grinding higher, last pullback at 1614.25 made it to 1615 and looking a bit tired up here, 1614.25 area needs to hold to avoid potential reversal/pullback

06 May 2013 02:12 pm
This could make it to a token hire why and then come back down again, 1616 should be good resistance have reached

06 May 2013 02:27 pm
This will be the third day in a row for the markets and there could be a bit more to go on the upside, but tomorrow my stuff will mostly negate the long side. But for now market okay as long as 1625-1613.75 area holds

06 May 2013 02:30 pm
Might keep an eye on the NQ for a shorting opportunity, a pretty good pullback from its high should be sold on next bounce

06 May 2013 02:33 pm
The NQ should have resistance around 2952.50 on a bounce attempt, should not get above 2953.50 and hold today. ES stalled at 1615.25 that needs to push through from above 1614.25

06 May 2013 02:42 pm
Stole it 1614.50 area so could make another push on the upside but probably not hold up there, that's to be seen.

06 May 2013 02:46 pm
The NQ failed on a bounce to 2952, if that breaks 2650 then could pull the ES lower with it. It just broke 1614.50, 1614.75 ounce resistance if going lower

06 May 2013 02:47 pm
Could be the start of a pullback that's more than just a few points on the ES. Look for shorting opportunity on another pop up. If 14 area can't hold 12.50 area next and that is a key support this afternoon

06 May 2013 02:55 pm
Tiny ranges with ES trying its best to hold what should be support, if 1614-1613.75 area and can retest high if held

06 May 2013 02:56 pm
broken and not turn right back up, then heads towards 1612.50. should hold there or shorter-term intraday trends begin rolling over

06 May 2013 03:06 pm
1614.50 has a been bounced resistance and should head towards 1612.50 area and maybe further unless broken and held, selloff likely underway for now

06 May 2013 03:13 pm
1614.50 still needs to be cleared to take pressure off and get ES back into an uptrend or can go to the 1612.50 or lower

06 May 2013 03:15 pm
It was back and forth early and then kind of a trend to move until topping out at 1615.25 4 different times. Market will have work to put together good rally, only a move back above 1614.50, not reject that area

06 May 2013 03:21 pm
Still should go to 1612.50 area and maybe lower given status of internal indicators

06 May 2013 03:22 pm
1612.50 area just missed so far, should still try for that area one more time. 1614 area is bounced resistance

06 May 2013 03:25 pm
Even if a good bounce from 1612.50-1612 area, it will be "sell the bounces" tomorrow especially with a poor close

06 May 2013 03:31 pm
At the end of the day the ES is going to need to stay above 1612.50 to avoid damage. They move about 1613.50 needed to take some pressure off, 1614 for a better bounce

06 May 2013 03:34 pm
It looks safe at the moment but if 1612.50 area is broken then they go down to the 1610-1609.50 lo area, key under 1612.

06 May 2013 03:35 pm
Have a good rest of your day. Tomorrow should be an important one, so be sure to read the update and I will see you sometime around the open

06 May 2013 07:57 pm
A bounce should be sold overnight, pressure is on the late buyers up here are stuck under 1612 area, 1609.50 and then more important 1608 should hold to avoid some short-term damage

06 May 2013 08:08 pm
1603.50 could also be in the cards if if this this lasts more than a few hours, especially Tomorrow during RTH hours -- or overnight if it gets active and 1609.50 and 1608 are broken, target/support, then 1603.50 in case sizable overnight drop

May 2, 2013 Market Action

INTRADAY LOG

02 May 2013 09:25 am
Good morning. It looks like last night's update explains the early support there at 80-79 area, if they hold over 84

02 May 2013 09:29 am
Should get short covering from lower levels. And if they somehow rally to 88-89 area again should be selling

02 May 2013 09:39 am
Has to hold 83.50-83 bounce from failing

02 May 2013 09:43 am
If they break down through 83 and don't turn right back up then 81 could be seen next. NQ very strong start, should lead a pullback

02 May 2013 09:50 am
A dip to 82.50 was turned right back up, having trouble getting through 85 so if that's not broken and 83 is, could start drop. 85 needs cleared/held next

02 May 2013 09:53 am
For now this is a short under 85

02 May 2013 10:04 am
82.25 pullback low to 85.50 double top for now, needs to bounce from 82 area or is in some trouble. Next pop up sold into

02 May 2013 10:06 am
So far 82.75 was held and turned up, could have fast break if that area broken. 85.50 needs cleared, still a short

02 May 2013 10:11 am
Stuck between 82.50 and 85.50, no damage done unless 82.50 broken, could see 88 if just a tiny pullback off token new high

02 May 2013 10:16 am
88-88.75 area should be sold, but only back to 86 area if going to stay in a good uptrend. If that's broken, a hike could be in for a while

02 May 2013 10:28 am
Pullback held just over 86 and 87.75 reached, not coming off hard just yet and needs to break 86-85.50 to turn back down

02 May 2013 10:31 am
Stalling out up here at resistance, token higher high sold, if there is going to be a reversal it should come from here and take out 86-85.50 soon

02 May 2013 10:35 am
The ES pulled back to 86.50 and bounced right back, there is good buying on small pullbacks with the NQ leading this run up. 86.50 area key, 90.50 next above 88.75

02 May 2013 10:37 am
This should be key area for all 3 averages, 88-88.75 on ES, 14,780 on the Dow cash and 2894 on the NQ are all key resistance areas

02 May 2013 10:40 am
That can be a top if 86.50-86 broken through. Or especially drop towards 85.50, and then fail around 87 on a bounce back

02 May 2013 10:49 am
86-85.50 could get a bounce but not be able to stick and make another push lower.

02 May 2013 10:59 am
A bounce from 86.25, 87.75 has not been held for a very long, so that needs pushed above and not turned right back down to keep this run up going. 86-85.50 key support

02 May 2013 11:11 am
86 has been holding on dips and should now try for 90.50 and maybe 93

02 May 2013 11:15 am
90.50 reached and now 89.50 is a small rollback support that should hold, 93 area would be next

02 May 2013 11:21 am
We have a strong move higher going, if going to be some pullback it will need to reject 92.50-93.50 area. And drop more than 2.50 points. If no rejection then 96.50-97.50 if breakout sticks

02 May 2013 11:33 am
92.50 sold twice but needs to break under 90.50-90 to dent upside. 91.50 should hold if going to push higher and not test that zone

02 May 2013 11:39 am
Pull back from 92.50 needs to bounce from 90.50-90.00 area or it could be in to roll over

02 May 2013 11:47 am
The pullback held at 90.75 so far, keeps up trend intact, though there should be hard to get through 93 and stick unless pushed through with gusto

02 May 2013 11:48 am
Just a heads up: I will be away from roughly 12:15 PM until 1:15 PM, and will update as soon as I return

02 May 2013 11:56 am
Strong trend day going and the new support holding on pullbacks, the ES backed away from 93, but no change in less 90.50-90 broken

02 May 2013 12:04 pm
Trend days can have countertrend when around noon, and 9050 might have been a high for a while, if no bounce from 92, especially 90.50-90

02 May 2013 12:09 pm
This is going to have trouble holding over 93 so a retest of the high likely sold. Pull back to 90.50 would be 3 points off the high and begin potential breakdown

02 May 2013 01:15 pm
After the last update the ES pulled back to 90.25 support, and bounce back to 92.75 so far, and now a number of highs at 92.25-93.50 area,

02 May 2013 01:16 pm
The market has come quite a ways off its low, so still should have trouble breaking/holding 93 area. If I'm wrong, and that's exceeded/held

02 May 2013 01:17 pm
Then they could get a squeeze up towards 96.50-97.50 area

02 May 2013 01:20 pm
For now if 93 area rejected, instead of broken through, pullback should hold 91.50 to continue to be very strong. 90.50-90 area is a key support

02 May 2013 01:26 pm
The way this is acting over the last few minutes, could get through 93-93.50, as long as pullback does not take out 92.25-92. 96.50 97.50

02 May 2013 01:27 pm
Poke up to new high at 74 was sold but can go back up there if 92.50 area is able to turn market back up

02 May 2013 01:39 pm
The last pullback held 92.50 and a bounce to 94.25 new high sold, a failed breakout if this would break 92 and not bounce back strong

02 May 2013 01:52 pm
Upside stalling out and wouldn't be surprised to see pullback to 91.50 maybe 90.8 area,

02 May 2013 01:52 pm
Would need to break 92.50 to get the move of going.

02 May 2013 02:00 pm
Holding 92.50, likely sellers at the high or just above, a pullback from new high should be about 2 points. If more than that then trend up may be over

02 May 2013 02:08 pm
Another pop up from here is a shorting opportunity, the NQ losing some luster also. It has been steadily up but door open for decent pullback

02 May 2013 02:15 pm
A bounce from 92 back to 93.50 should be sold if this is topping out up here. It will need pushed through with gusto to go for 96.50

02 May 2013 02:21 pm
93.25 reached so far and shouldn't go much further before they dip. Would be careful on short side, trend update with tiny pullbacks better to buy low

02 May 2013 02:23 pm
If they take out 92 area, should bounce back but probably not a huge bounce, would be breaking intraday dynamics and bounce should fail again

02 May 2013 02:35 pm
92 has turned into a key area and market stays bullish as long as buyers hold that area, 91.50 at the lowest.

02 May 2013 02:37 pm
Watch 93 area on a pullback for support, 96.50-97.50 the next "resistance" if new high not instantly sold

02 May 2013 02:41 pm
Needs a quick bounce from 93-92.75, however the new highs poking over 94 have been instantly sold and need a push above 94 to hold up there

02 May 2013 02:48 pm
93 was bought and keeps the market from potential break lower. They move over 94 needs to hold, but likely will have trouble. 93 should hold or can head under 92

02 May 2013 02:57 pm
If there is one more pop up, look for that to be sold, three times to 94 or just above came right back down, market has been strong but

02 May 2013 02:59 pm
that barrier needs pushed over and held up there in the last hour to have a chance to test 96.50-97.50, doubting that

02 May 2013 03:02 pm
A test of 96.50 would equate to around 1600 on the cash index. That is not far above and should not get above that/hold today anyhow

02 May 2013 03:06 pm
93.50 rejected on the last bounce, buyers may begin backing off and take out 90.50-90, that is a major area for the end of the day

02 May 2013 03:19 pm
Bounce from 91.75 stopped at 93.25, so far, 93.50-94 area should be pivotal in the last hour, drop back to 91.50 or lower if not exceeded/held

02 May 2013 03:23 pm
93.50-94 zone was spoken to in reverse and now can go back towards 92 area and needs to reverse their or 90.50 area possible before bounce attempt

02 May 2013 03:26 pm
That is going to be key/pivotal resistance the rest of the afternoon. Only if 94 pushed above, and hold on tiny pullback, can bring move to 96.50

02 May 2013 03:27 pm
Have a good rest of your day. I will catch you tomorrow probably a little bit after the open unless a big early move
 

May 1, 2013 Market Action

INTRADAY LOG

01 May 2013 11:02 am
The ES went down to test the 1583 support at 10:15 AM and again 10 minutes later and turned up, transition to uptrend clearing 85.50 and holding

01 May 2013 11:02 am
The 88 area should be pivotal for resistance here, if cleared/held then uptrend could go further. 86-85.50 important support to hold on pullback

01 May 2013 11:10 am
86.50 held on pullback and that is important area to hold to try to push through 88, if they run up there must get through with gusto, not reject

01 May 2013 11:16 am
Per usual of late, market made a low and the first hour and turned around and has gone trend up, there is a 2 PM Fed release, but ok above 86.50 for now

01 May 2013 11:18 am
Those will need to turn up from above 86.50 here and then get back above 88 and hold. Will be a temporary high otherwise

01 May 2013 11:27 am
86.25 and 86.00 were early lows before dropping to 82.75 low and then after tagging 86.50 around 10:45 AM, a 1 pt dip and 86.50 broken/held since

01 May 2013 11:29 am
So that 86.50 area should be key support up here on pullback from 88 area. Needs clear/held next to keep this pushing higher

01 May 2013 11:38 am
AE should hold us back now even if a bounce from 86.25. Hurley shouldn't get that far. 85 next support

01 May 2013 11:53 am
Drop down to just under 85 and turned back up. Another drop under 85.75 needs to bounce right back up or could break 84.50 and go back to test 83-82.

01 May 2013 12:11 pm
Bounce failed just under 88 again and turned down, that area should be pivotal and is currently a short on bounce under that, will likely be bought around 85, but 83 if broken

01 May 2013 12:19 pm
Yet another trading range, there has been decent buying on dips so far, but not able to stick over 88. This move would need to get through 88/hold

01 May 2013 12:42 pm
This was a short on a bounce and the ES made it to 87.00 and stalled at 86.75. pullback reached 85.50 so far and needs to break under 85.50 soon to put pressure on

01 May 2013 12:50 pm
Still is more than an hour before the Fed announcement, 88 areas still pivotal resistance if a decent bounce comes from 86-85.50 area

01 May 2013 12:59 pm
85.50 area is bounced resistance to clear to take some pressure off, the 84-83 area has been in play early and 83 area key on this move down, if short

01 May 2013 01:01 pm
Cover part and trail stop on the rest. 85-85.50 as bounce resistance and should be sold if still week

01 May 2013 01:04 pm
There could be a bounce from this zone, but if it doesn't and breaks instead it could be a fast one

01 May 2013 01:10 pm
Look for a bounce from 81, 83.50 Resistance should fail

01 May 2013 01:13 pm
If going back down to lower low 83-83.50 area should be sold. If 81.25 does not hold, then the 79.50& 78.50 area Could be in the cards

01 May 2013 01:17 pm
82.75 bounce high so far, If there is a push higher from 82, a move over 83.50 area needed to take some pressure off.

01 May 2013 01:24 pm
81.25 low turning into good support. 82.50-83.50 prior support turning into pivotal resistance, would need to get back above 83.50 and hold 82.50 at lowest.

01 May 2013 01:40 pm
1583.50 area was sold on the bounce and back down to the low, if not turned up quickly then going to the 79.50-78.50 area before bounce attempt

01 May 2013 01:42 pm
Fed release in about 20 minutes, and although it hasn't happened in quite some time, the tendency for a trend day is a reversal after the release.

01 May 2013 01:46 pm
79.50 was reached and could bounce, But still to change this the 82.50-83.50 area needs to be exceeded and then held around 82.50 on a pullback.

01 May 2013 01:49 pm
79.50 reached, could bounce. The 81.25-82 area should be resistance on a bounce attempt if markets still weak. Fed release in about 11 months

01 May 2013 02:02 pm
Rejected 83.50 area, pullback phase to hold 81 or going to token lower low before bottoming

01 May 2013 02:10 pm
84.50 a bounce I so far, just below the breakdown area from earlier. A pullback from 84.50-85 likely. Then 82-81.50 at the lowest to keep upside going and not go far test the low.

01 May 2013 02:16 pm
The ES fell to 81.00 and bounced, took out 82-81.50. That should get one more test if no push above 54.50-85 resistance

01 May 2013 02:22 pm
If can hold 83.50-82.50 area on pullback the uptrend stays intact. If broken 81 should hold.

01 May 2013 02:30 pm
86 area Acting as resistance, needs to bounce from 83.50-82.50 area or a bounce that follows should be sold into

01 May 2013 02:42 pm
82.25 pullback low so far, if broken for a bounce will fail at or under 86.25 bounce high. Small resistance 84.25 five and 84.75

01 May 2013 02:45 pm
Not expecting huge move up from here even though holding support, this bounce should tell that one more push lower, then the shorts cover and bounce follows

01 May 2013 02:52 pm
A move above 84 that doesn't turn right back down could run a couple more points before stopping, this 81.75 key support

01 May 2013 02:56 pm
Without 84 and rallied 1 extra point, Looks like 83.25& 82.75 area important support if a pullback, then 81.50

01 May 2013 03:06 pm
My areas are off this afternoon, I think we have short coming in for cover on the pullbacks and get a quick bounce that is unable to stick.

01 May 2013 03:07 pm
Needs to get above the 85 area and not turn back down to get out of potential trouble in the last hour, but look for potential reversal from tests of low

01 May 2013 03:09 pm
If the 81.50 area has broken through. That will be key support end of the day. A drop to 79.50-78.50 should get turned back up

01 May 2013 03:17 pm
Could scalp a long trade from that support but should be pretty good resistance around 81.50- 82. It's risky because could just keep going towards 73 area

01 May 2013 03:21 pm
Would be surprised to see a late day rally, it is not going to be able to hold the waves is acting and will probably get follow-through tomorrow

01 May 2013 03:26 pm
This should see 74-73 before completing downside, or getting decent bounce I can't stick. Could see some short covering

01 May 2013 03:29 pm
This should not have a strong run-up in the last 30 minutes, should drift lower and maybe get to the 74-73 area if this action continues. 80.50 area Resistance

01 May 2013 03:31 pm
Have a great rest of your day. Tonight's update will be just a quick comment along with the numbers due to having family here

April 30, 2013 Market Action

INTRADAY LOG

30 Apr 2013 09:28 am
Good morning. Econ data morning, not much different from last night update. Needs to rally from the open and get over 89/hold, but Econ data

30 Apr 2013 09:29 am
Going for 16th consecutive up Tuesday

30 Apr 2013 09:34 am
That might be early high at 88.50, 88-89 area needs cleared and held

30 Apr 2013 09:39 am
Must be more shorts in the market than folks think, help holding this up on the early pullbacks lately. 89 sold, no damage unless 88 broken/held

30 Apr 2013 09:43 am
They need to get over 89/hold. There is more Econ data top of the hour, market is in some trouble as long as 89 not broken/held on pullback. 87 minor

30 Apr 2013 09:44 am
83-82 area should get tested if bounce fails around 86.50-87 and breaks 85

30 Apr 2013 09:51 am
87 bounce resistance sold, another decent drop from their should make for a buying opportunity for at least a ~2 point scalp

30 Apr 2013 09:54 am
83-82 area needs to hold and turn up, but bounces should be sold into a top can be in place

30 Apr 2013 09:59 am
83.25 low so far before the number is short at least cover par

30 Apr 2013 10:03 am
Should be going to the 79 area before any bounce attempt even if we get one there it will most likely fail

30 Apr 2013 10:07 am
There is small bounce resistance at 83, staying under that keep the pressure on. If exceeded that 84.75 area looks key

30 Apr 2013 10:15 am
83 pushed above, this doesn't have much gusto to go very far, a move over 84.75 needed to take the pressure off

30 Apr 2013 10:17 am
Pullback needs to stay above 82.75-82.50 if there's going to be a push through 84.75 and maybe a bit higher,

30 Apr 2013 10:23 am
Has to push above 84.75, not stall out under that level, or going to roll over again

30 Apr 2013 10:29 am
The bounce stopped at 84.25, 2 ticks under new 84.75 resistance, and that is key to clear/hold to attempt giving out of trouble. If low broken 79.50-78.50

30 Apr 2013 10:33 am
Test of low held by one tick, should hold but if not then down to 79-78. A move to 84.75 or a bit higher to get things turn up

30 Apr 2013 10:40 am
58.75 reached, pullback should hold 84 area to keep up trend.

30 Apr 2013 10:45 am
86.50 area is poor selling came in earlier, a pullback should hold around 84.75 area or could start another decent drop

30 Apr 2013 10:51 am
Pushing higher from 85 point., 84.75 is he/transition support that needs held on a dip to keep uptrend intact, 88.58-89 resistance

30 Apr 2013 10:58 am
Just under 88-89 area and the ES needs to hold 85.50 at worst or uptrend in danger here

30 Apr 2013 11:04 am
86.25 pullback low so far, but tiny double top at 87.50, just under the 88-89 he resistance zone up here. Gets toppy if no bounce from 86.25 area

30 Apr 2013 11:07 am
Going sideways but holding support, has been giving moves higher, no damage done unless 86.25 broken for now

30 Apr 2013 11:11 am
88.00 level reached, that resistance and could get reaction. Needs to stay above 87 area now to continue grind higher and not turn toppy

30 Apr 2013 11:27 am
The ES broke 87 and trying to bounce back, needs to hold 86.50 area to keep up side grinding higher, if broken or a decent pullback to test 84.75

30 Apr 2013 11:35 am
88 finally pushed through, 88-87.50 area Now support to continue crying higher, 86 very important up here

30 Apr 2013 11:43 am
90.75 is first resistance, then the 92-93 area. Has to stay above 88.50 or there is a dent in the up side momentum. 86.50 should be strong support if reached on pullback

30 Apr 2013 11:50 am
90.75 area could be tough to get through and hold. 89 needs held to continue grinding higher and not reverse

30 Apr 2013 11:54 am
90.75 reached pretty easy, if that doesn't stop the move up then 92-93 area next. 89.50 trend up support. Next update in about 10 minutes

30 Apr 2013 12:04 pm
90.75 stopped the upside, 89.50 broken, another pop up should be sold into for an afternoon pullback of some sort

30 Apr 2013 12:18 pm
The move up to 90.25 was sold on the break of 89.75, that should be bounce resistance, afternoon pullback in gear 84.75 a major area on pullback

30 Apr 2013 12:23 pm
88 area should be pivotal up here, if the market is going to make new highs than probably would need a good bounce from there. If broken/held then 86.50 man 84.75 key

30 Apr 2013 12:38 pm
The NQ is quite a bit stronger than the ES today, so just keeping that on your radar screen our 2824.75 has been good resistance. 89.50 on the ES now. 86.50 next support

30 Apr 2013 12:47 pm
Pullback held 88.25, that's an important support and pivotal area the rest of the day. That would need to be broken/held on bounce to change things

30 Apr 2013 12:56 pm
A new high and not instantly sold back down, a pullback should 90-89.50 to keep good uptrend and head towards 92.50-93.50

30 Apr 2013 01:08 pm
The ES backed off from 92.00 but was just a tiny 1.25 point move. That 90.50 level is strong up trend support and should hold if going to push to/through 92.50-93.50

30 Apr 2013 01:10 pm
If you have been buying pullbacks around support on the way up, suggest exit at/near that resistance zone

30 Apr 2013 01:13 pm
90.75 prior high acting as support and 90.75-90.50 does not get pushed back up thru then 92.50-93.50 in the card still

30 Apr 2013 01:26 pm
This has been going sideways between 90.75 prior resistance/new trend support and 92 on top, should get into 92.50-93.50 area if 90.75 holds

30 Apr 2013 01:35 pm
Unable to get through 92 and may need to pull back a bit more towards 89.50 at the lowest. That should give a bounce if reached. If not held

30 Apr 2013 01:37 pm
Then 88.50-88 area should be a key support on a decent pullback. That will not be seen today if the market is going to remain strong

30 Apr 2013 01:48 pm
Should stay above 91 to keep on pushing through 92 this time and continue a bit higher before pullback

30 Apr 2013 01:53 pm
There has been pretty good buying pressure since coming off 10:30 AM low, this test needs to finally push through, 90.50 important support now

30 Apr 2013 01:59 pm
Not much rejection at token higher high, looks like 91.50 needs held. If no turn up from there, 90 area an important support to avoid retest of 88

30 Apr 2013 02:04 pm
Market kind of acting like ES leery of 92-93, at least looks like a tough area to get above and stay up there. If 90 doesn't hold than 88 area. No new law

30 Apr 2013 02:08 pm
If 89.50 breaks there could be a bounce but some dynamics would change and bounce would be a shorting opportunity especially near 91

30 Apr 2013 02:15 pm
88.75 Low on the drop from 92, if the market is weak then the 90-90.50 area should be hard to get through/hold

30 Apr 2013 02:16 pm
If that is not exceeded and 88 area broken through its on its way to test 85.50-84.75 area.

30 Apr 2013 02:27 pm
Should be able to reach 91 area at least, unless weak and going to take out 88 area

30 Apr 2013 02:28 pm
If there is a failure to get through 90.50-91, and they break up 88 more likely. If 91 has exceeded, then pullback likely will hold

30 Apr 2013 02:29 pm
Need to be the way for 10 minutes my apologies

30 Apr 2013 02:40 pm
I'm not sure how much upside possible but another test of 88.50 held and as long as 89.50 area holds this can move back up, that might be key to hold them 88.50 is going to

30 Apr 2013 02:52 pm
Most all-out at 91 so far, a drop to 90 level needs to bounce right back or could retest 80.50-80 area before a bounce

30 Apr 2013 02:54 pm
That's 88.50-88.00, not 80.50. Sorry for that. If broken a bounce sold into

30 Apr 2013 03:00 pm
90.25 was touched and 91.25 tested. Has to stay over 90 or will be going for 88.50-88 area again.

30 Apr 2013 03:03 pm
Tops are tricky and it has been up at the highs today, not sure how much more upside before decent pullback

30 Apr 2013 03:04 pm
88.50 area tested around noon and again late afternoon and another test needs to turn right up or go down to the 86.25 area at least

30 Apr 2013 03:17 pm
Holding over 89-88.50 area necessary to and on a good note. Should hold but if not then down towards 86.25. Watch 91 for reasons on pop

30 Apr 2013 03:18 pm
I will not be here until sometime around noon tomorrow due to an appointment in the morning, I will update ASAP when I return

30 Apr 2013 03:19 pm
Have a good rest of your afternoon. I will catch you tomorrow when I am back hopefully before noon.

April 29, 2013 Market Action

INTRADAY LOG

29 Apr 2013 09:22 am
Good morning. Gap up open at 9:30 AM open is above 81.50. If not held then 78

29 Apr 2013 09:33 am
81.25 held so far but likely sold at 83-84 area

29 Apr 2013 09:35 am
Pressure on as long as hold under 82 area down to 78 area or lower

29 Apr 2013 09:43 am
Could have a low for a bounce to 82 area that should be important on a bounce.

29 Apr 2013 09:49 am
would need to get back above 82 and not turn right back down to avoid deeper pullback, 78 then 76.50-76 would be a key support

29 Apr 2013 09:53 am
If 82-82.50 stops a bounce, it is just pulling back unless 81-80.50 area broken.

29 Apr 2013 10:02 am
82.50 was sold on first test but pull back reversed up from 81.25. 82.75 sold second test. If that is broken/held things change

29 Apr 2013 10:08 am
Strong push above 82.75 came from 81.75 level, thats now to support rest of the morning. 88-89 would be next, strong R there if reached. 84 S

29 Apr 2013 10:14 am
Stalling out just under 86 and pullback needs to bounce from 84 or action begins to look toppy

29 Apr 2013 10:18 am
Potential for reversal at 86

29 Apr 2013 10:24 am
If 84.50-84 doesn't hold and uptrend broken, a quick pullback to 83-82 could happen. Strong market though unless that area broken

29 Apr 2013 10:31 am
88-89 could still be in the cards, that should be key resistance if high not in. Need to stay up 85.50 to stay strong. 83-82 key now

29 Apr 2013 10:46 am
The dip held right at 85.50 so far, move is stuck between that and 87.00 and should push through towards 88-89 unless 85.50 broken

29 Apr 2013 10:56 am
Higher highs sold into, so far 88 was just missed and a pullback shouldn't break 86.50, if it is then 85.50 area key up here

29 Apr 2013 11:00 am
Basically trend up move after first 15 minutes. Pullbacks 1.25-1.75 points then push higher. Makes 85.50 more important symmetry would break

29 Apr 2013 11:05 am
if they do bounce from 85.50, market turned from 1 tick under a big resistance and should be sold to another pop up

29 Apr 2013 11:15 am
So far the pullback from 87.75 held at 85.50, if broken then high is in or a while, 87 area tiny resistance then 80-89. 83 support if break

29 Apr 2013 11:24 am
Holding 85.50 to make one more push higher, but should have trouble around 87 if not going to make a new high and the breakdown under 85.50

29 Apr 2013 11:36 am
Bounce from 85.50 up to 67.75 so 40 Holden 86.25 on dip and if broken than 85.50 danger of breaking also.

29 Apr 2013 11:45 am
85.50 new support was bought again on the dip, that area is key to hold around noon or could begin trend change. A push over 87 could start small squeeze

29 Apr 2013 12:08 pm
88-89 reached, can pullback but no sign of top yet 87.50 good support

29 Apr 2013 12:13 pm
87.50-87 S, NEEDS HE;D NOW, 85.50 GOOD S. 92-94 AREA NEXT R / MAJOR. BACK IN 10-15 MIN

29 Apr 2013 12:38 pm
as long as 89-88.50 holds on a pullback this is capable of reaching 92.50-93.5 area

29 Apr 2013 12:43 pm
We had a small gap up open today and gap days often times turned into trend days, and all pullbacks are gentle and small before higher again

29 Apr 2013 12:54 pm
Should continue into the 2 PM timeframe unless the uptrend is broken. If 89.75 on able to hold then 88 area key/transition area should be pivotal

29 Apr 2013 01:00 pm
If there is a bounce back to the 89.50-90 area and stops, it should set up another push on the down side. This reaction different than others

29 Apr 2013 01:06 pm
So far pullback is holding just above the 88 area that is pivotal up here, it will take break/hold under that to attempt reversing

29 Apr 2013 01:18 pm
This can and back towards the 85.50 area to continued weakness breaks through 88.50 area, and the NQ stays weak also taking out 2565

29 Apr 2013 01:27 pm
So far the ES trying to hold 88.50-88 zone, but has been unable to get back above 89.50 and stay there. 88 area appears critical support

29 Apr 2013 01:31 pm
If this stays over 88.50, no damage done and could get a little bounce on move over 89.75. If 88.50-88 broken 85.50 area next

29 Apr 2013 01:43 pm
Now 89.50 area should hold to keep grinding higher to take out 91, and maybe test 92.50-93.50

29 Apr 2013 01:48 pm
Should stay above 90.25-90 to keep up trend intact and moving towards 92.50-93.50 on this move

29 Apr 2013 01:53 pm
Biggest pullbacks 2.25 points before pushing higher, 87.75 to 85.50 new S and 2.25 points from 91.00 to 88.75, another new high. More than that

29 Apr 2013 01:55 pm
Would change dynamics, and then open the door to test 88.50-88 which would be just below. As long as 90.50 holds can go to 92.50-93.50 on this move

29 Apr 2013 01:58 pm
Trend day almost to the 92.50-93.50 five 2 PM timeframe. Could be tiny shakeout at that area, but not go too far.

29 Apr 2013 02:11 pm
90.50 held above and managing towards 92.50-93.50 which should give a reaction of some sort, if broken, should be no more than 2.25 point dip

29 Apr 2013 02:18 pm
Not a huge reversal but just missed the 92.50-93.50 zone by just 1 tick. If another push that reaches that zone likely sold, 90 is important area

29 Apr 2013 02:27 pm
So far just 1.75 point pullback and stalled and then back up. This move needs to take out 92.50-93.50

29 Apr 2013 02:29 pm
And not turn right back now. If it doesn't get there, or does but a pullback breaks 90, then a high could be in

29 Apr 2013 02:44 pm
Market keeps this same rhythm of pushing higher than sideways for a rest, then push higher again as long as 90.50, 90 at worst, holds on pullback

29 Apr 2013 02:47 pm
But expect some selling if 92.50-93.50 reached and the move stalls or shows rejection of that area. Has been holding 20 EMA on 5-minute chart, 90.75 currently

29 Apr 2013 02:52 pm
Need to see good bounce start from that 90.75-90.50-90 area to keep this going end of the day

29 Apr 2013 03:02 pm
Market is trying to make a late day decision after spinning its wheels just under reset all time high at 93 on ES thing session, if

29 Apr 2013 03:03 pm
If the 90.50-90.00 area broken and not turned right back up, then bounces likely sold late day, the NQ could lead

29 Apr 2013 03:06 pm
Another failure up here could be bad news, 90.50-90 area tested and even a bounce not going to stick it appears, 88 key

29 Apr 2013 03:10 pm
88.50-88 is the key area and of that day, ounce resistance around 90 but market will not be so bullish that that is broken especially on close

29 Apr 2013 03:12 pm
Could bounce from the support, but market is timid by even hesitating and under pressure under 90 as that needs cleared on bounce

29 Apr 2013 03:15 pm
And all day rally that gives up with an hour to go normally sign of trouble. Hasn't broken 88 yet, but pressure on, a bounce will be sold

29 Apr 2013 03:20 pm
If this is going to break lower again than it should from under 90, at least not get above and hold that level

29 Apr 2013 03:21 pm
A break under 88 could start a drop to 85, if that momentum than 83 area. And the day resistance still the same.

29 Apr 2013 03:22 pm
Have a good rest of your day and I will catch you tomorrow morning.

April 26, 2013 Market Action

INTRADAY LOG

26 Apr 2013 09:28 am
Go by the nightly update in the early going. 78 is key early, then 76.50. And 82 area If they run up should not stick

26 Apr 2013 09:36 am
That's a top for now, especially a break of 78 that doesn't snap right back

26 Apr 2013 09:37 am
If they pop up one more time, 80.50 area needs to be held, should be sold up their and then come down fast for one more push lower

26 Apr 2013 09:43 am
Down to the 76.50 area giving short cover about to start. 38.50 should be good resistance now

26 Apr 2013 09:53 am
78.50 was sold down to 77 on the first test, a little double bottom at 76.50. They pop up to 80 area will need to have gusto and not stall

26 Apr 2013 09:53 am
Econ data in about one minute

26 Apr 2013 09:58 am
Watch 82.50-83 for his assistance, 80-79.50 needs to hold on a pullback

26 Apr 2013 10:02 am
Just missing 82.50-83, so for, a pullback needs to hold around 80 and turned back up to have a chance to get all intraday trends back up

26 Apr 2013 10:05 am
80.50 held so far. But stalling while the NQ dropping hard off its high, this might be another high up here 78.50 pivotal

26 Apr 2013 10:08 am
Can bounce from 78.50 but a bounce is going to fail, good shorting opportunity if one more push higher. Holding under 82 negative

26 Apr 2013 10:15 am
Test of the low getting a bounce, 78-78.50 should be pivotal resistance. Another pop-up also will be sold

26 Apr 2013 10:18 am
73 area should be in the cards before there is a decent bounce attempt, new low bought but they hold under 78 then 73 likely

26 Apr 2013 10:24 am
74.75 could be a low for a while, still watch 78.15 area for good resistance on a bounce.

26 Apr 2013 10:33 am
78 sold in pulling back again, a break of 76 and not quickly reverse up would put pressure on toward 73 then mounts.

26 Apr 2013 10:36 am
This is going to give a double bottom or a higher low and then try for 78 again or maybe a bit higher

26 Apr 2013 10:40 am
If 78 area is exceeding, then a pop up to 78.75-79.50 possible but pull back from there.

26 Apr 2013 10:47 am
Market has been churning sideways but stays bearish under 78-78.50, if that area exceeded/held, then 80.50

26 Apr 2013 10:52 am
Could be bounce attempt from 75 area but staying under 78 keeps pressure on to test 73-72.50 and maybe lower

26 Apr 2013 11:10 am
Better double bottom in place 74.50, but need to take out 78 to break down trends

26 Apr 2013 11:27 am
78 reached and rejected, but not 78 was sold but not wanting to break down by holding at 76. Must hold now or new low. 2834 same as 78 on ES for R

26 Apr 2013 11:31 am
Both 78 on ES and 2834 on the NQ need cleared to attempt taking some pressure off. Can still go for 73

26 Apr 2013 11:38 am
Even a decent bounce sold into aggressively, still 73 area to go for. Keep an eye on the Dow cash, and sank with ES

26 Apr 2013 11:52 am
Almost to the 73-72.50 support, if no turn then 68 area would be next. 75-75.50 resistance

26 Apr 2013 12:05 pm
73-72.50 zone was reached in some decent buying/short covering just came in at noon Eastern, a low should be in place for a bit. 75-75.50 R

26 Apr 2013 12:13 pm
Pullback from 75 held at 73.50 and must hold that to have a chance to push higher one more time and not break 72.50 support

26 Apr 2013 12:20 pm
As long as 75 has held below the pressure stays on to retest the low and possibly a break toward 68 this afternoon

26 Apr 2013 12:28 pm
There will need to be a quick turn backup from 73.25 at the lowest or the low will be tested/broken. The ES spent very little time below that

26 Apr 2013 12:38 pm
The ES touched 73.50 and turned up, needs to push above 75 and not turn right back down. Doesn't act like that will happen. 77-78 area IF it does

26 Apr 2013 12:48 pm
ES broke 73.50 by 1 tick twice and turned right back up, but only one 1.25 point bounce sold into. Still must get through 75

26 Apr 2013 12:50 pm
Currently looks safe holding 73.50 but if broken.

26 Apr 2013 12:53 pm
The ES backed away from 75, still needs to get above and hold that. 77-78 if broken/held. Next update after taking a 10-15 minute break

26 Apr 2013 01:07 pm
If no bounce from 74.50 then bounce high probably in, don't expect bounce to go far, should be one more decent pullback as long as 77-78 not exceeded

26 Apr 2013 01:11 pm
Look for rejection around 77-78 area. 74.50 is pivotal now

26 Apr 2013 01:17 pm
Market active in the first 30 minutes then topped and steady drop lower to 73-72.50 support at noon. Things change some @ 12:50 PM,

26 Apr 2013 01:20 pm
No pullback to 74.75 was important support, transition area for now. This can reverse at/near 77-78, but no breakdown unless 74.50 broken

26 Apr 2013 01:30 pm
Run up made it to 78.25 resistance, that will be a high if this breaks back to test 76.50-76 area and not bounce back. That is trend support now

26 Apr 2013 01:36 pm
78 touched and rejected again, a short up here for a pullback to 76.50 maybe a good bit lower

26 Apr 2013 01:47 pm
The pullback held right at 76.75 and then turned up again. 77-76.50 key support on a pullback now. 80.50 area resistance next

26 Apr 2013 02:03 pm
Hasn't held over 78.50 resistance for very long, a drop to 77-76.50 can happen if that's not exceeded/held soon

26 Apr 2013 02:11 pm
Double top in place and break of 77.50 properly leads to test/break of 76.50 area. 77.50 key support for this trend

26 Apr 2013 02:34 pm
76.75 key area held so for an thin trading with about half normal bid/ask size about 2 ticks above/below current price. 78.50 needs push above/held

26 Apr 2013 02:36 pm
For the market to get another move on the upside and avoid deeper drop from here. 75 area would be next

26 Apr 2013 02:47 pm
76.75 held for a third time and made it to 78 so far, that area needs to hold or could have late shakeout.

26 Apr 2013 03:00 pm
77.75 on the ES needs to hold to have a blast our run-up

26 Apr 2013 03:03 pm
There was a tiny double top at 78 before breaking about that, then two pullbacks held at 77.75. If broken then things could change

26 Apr 2013 03:06 pm
80.50 good resistance on this, if that is broken through them the 82 area.

26 Apr 2013 03:11 pm
A pullback should hold 79.50-79 area if the uptrend is going to stay intact

26 Apr 2013 03:23 pm
The ES reached 80.75 and backed away, retest of 80.50 sold. 79 needs held on pullback if there is one more pop up coming

26 Apr 2013 03:28 pm
Market will end on a good note unless there is a break below 79.50-79 that doesn't get turned right back up. That's trend support and has been holding

26 Apr 2013 03:30 pm
Watch the 82 area For a potential turn. But still no damage done holding 79.50. If broken, then bounced that follows sold into

26 Apr 2013 03:30 pm
Have a great weekend! I will catch you on Monday morning

26 Apr 2013 03:51 pm
Double top and if this goes back under 78.50 then we can see further downside towards 77.50 and then 76.50, close under that means weaker market than expected

April 25, 2013 Market Action

April 24, 2013 Market Action

INTRADAY LOG

Market Action for Wednesday - April 17, 2013

Market Action for Tuesday - April 16, 2013

Market Action for Monday-April 15, 2013  

Friday-April 12, 2013

(time stamps are EST)

12 Apr 2013 09:26 am
This is not just a pullback and then a rally all day. Indicators won't be as overbought, but should have enough downside to put them in neutral

12 Apr 2013 09:27 am
Could be a bounce in the first 20-30 minutes but not likely going to hold.

12 Apr 2013 09:35 am
First pop up sold into, 82 area could give a pop if not then 79-78

12 Apr 2013 09:40 am
Bounce from 82.25. 86-86.50 resistance if 83.50 holds. Consumer sentiment at 9:55 AM

12 Apr 2013 09:46 am
83.25 reached on pullback from 84.75 double top, as long as pullback holds 83 no breakdown. But should be not much more upside

12 Apr 2013 09:47 am
86.50 area resistance, a pullback needs to bounce from 84 area

12 Apr 2013 09:49 am
86.50 area rejected, It will take a break back below 84.50 and not turn right back up to dent the upside at the moment

12 Apr 2013 09:53 am
Number in just a few minutes. 86.50 resistance needs cleared/held or breaking back down again

12 Apr 2013 09:57 am
84.75 should not be cleared/held. Key area and then 86.50 retest if taken out. Around 80-79 area key support

12 Apr 2013 10:01 am
The bounces are selling opportunities, early high made about 20 minutes in, 79 area likely.

12 Apr 2013 10:05 am
Watch 80-79 for a support area on another push lower, or work that way if there's feeble bounce. 83.25, if cleared could pop up

12 Apr 2013 10:09 am
80.50 was bid right back up, they move over 83.25 is needed to hold, or can pull back again

12 Apr 2013 10:14 am
84.50 area could be a turning point area, 82.50 area needs to hold on pullback

12 Apr 2013 10:21 am
Two bounces of about 4 points on the ES. Should test 79.50 as long as holds under 82.50

12 Apr 2013 10:32 am
If 80.75 is going to hold as a low, then 83 needs taken out/held on a dip. It's choppy, small support 81.50 should hold or they keep going through 80.50

12 Apr 2013 10:36 am
Still holding under 83, 5 pokes to 81-80.75 held so far, should be broken through to 79 area

12 Apr 2013 10:41 am
Another pop up will be a shorting opportunity, even if it's a bounce from 79 area. A 2 point bounces likely sold, 3.50-4.00 point bounce max

12 Apr 2013 10:46 am
79.25 reached so far, some short covering possible. This pattern is bearish, 76-75 next. 80.25 resistance

12 Apr 2013 10:52 am
75.50 support/target was reached, a good morning for the short side. 79.50 area resistance. Needs broken to dent downside momentum

12 Apr 2013 10:55 am
In an out for the next 15-20 minutes, a retest of the low must bounce immediately or 72.50-71.50 a major area not listed last night.

12 Apr 2013 11:15 am
A bit of a double bottom, but should stay under 79 to keep good downtrend intact for now. 76.25 is small support. If 79 broken then some

12 Apr 2013 11:16 am
Pressure would be off for a bit. Would need to get back above 80.50/hold not reverse if there is a move above 79

12 Apr 2013 11:24 am
So far 79 reached and rejected a bit. Stays bearish under 79

12 Apr 2013 11:35 am
Barely poked over 79, but was decent buying around 77 keeping the ES from breaking back down again. That is now 78, key pullback support

12 Apr 2013 11:38 am
79-79.25 sold for a third time, and that's resistance also, so should drop from here or thanks change for a while

12 Apr 2013 11:47 am
There was buying at 77 around 11:28 AM, this push needs to take out 79 and then hold 78.50 area on a dip

12 Apr 2013 11:55 am
80.50 area some resistance, but market okay for now as long as 79 is held on a pullback

12 Apr 2013 12:10 pm
Pullback held at 79.25 and bounced back to 80.50. A bit more on the upside likely. If 82.50-84 area reach and stalls, look for pullback there

12 Apr 2013 12:15 pm
That might be all there is left for this bounce as the last pop up made a double top at prior support now resistance, would need taken out

12 Apr 2013 12:36 pm
Pullback to 78.50 giving a bounce attempt. To get into a somewhat strong position, ES needs to push over 80.50 and hold around there on a dip.

12 Apr 2013 12:38 pm
That will be hard to pull off, should not get back above that area and be able to hold. But just in case. ES needs to stay over 79.50 area

12 Apr 2013 12:41 pm
For now gaining strength, as long as 80-79.50 area holds market remains an uptrend

12 Apr 2013 12:52 pm
That 79.50 is as far as a pullback should go or a high will be in poor early afternoon, 82.50 next resistance

12 Apr 2013 12:53 pm
Back in about 10 minutes or so

12 Apr 2013 01:10 pm
82.50 had a pullback on the first test but held 82 and up to 84 area where market broke earlier. 82.50 support now on a pullback

12 Apr 2013 01:16 pm
If they bounce up again and stop around 83 it's a short, that should be a bounce high in place, at the least strong resistance around 84

12 Apr 2013 01:46 pm
80.50 pretty good support, if that is broken then the market could break pretty hard late in the day. 82.50 is a bounce resistance, 84 key

12 Apr 2013 01:54 pm
82.50 was reached and rejected for a shorting opportunity. A break of 80.50 area can go for 77.50 may be quickly

12 Apr 2013 01:56 pm
Any kind of bounce will be sold into, market should be down hard a few days given internals reach extremes for first time in months

12 Apr 2013 02:03 pm
A battle between 82.50 and 80 areas. A push over 82.50 needed to get squeeze towards 84-84.50. 86 area Key IF exceeded

12 Apr 2013 02:05 pm
A break of 80 area can open the door for a drop back down to 75.50-75 zone, was/is major for today.If unable to hold 72.50-71.50 should/must

12 Apr 2013 02:10 pm
FYI:am planning to make some changes to the service. If there is something simple to add that would be helpful email Mike@TradeStalker.com

12 Apr 2013 02:12 pm
Cannot promise a reply but will definitely read comments and see if things can be implemented without adding extra work/time currently

12 Apr 2013 02:15 pm
Range inside of a range, 82 resistance and 81 support, it's the 80.50-80 area that is a transition area and would like to see that broken for

12 Apr 2013 02:16 pm
Four confirmed downtrend underway. Can pop up a bit further, but not likely going to stick at higher prices. Should be selling into strength

12 Apr 2013 02:30 pm
80.50 area resistance now on a bounce

12 Apr 2013 02:39 pm
79.25 able to hold and bounce back to 80.50, if that is cleared/held then 82 could be in the cards before pullback attempt

12 Apr 2013 02:49 pm
Needs to bounce from 80.25-80.002 ovoid potential breakdown. Making lower highs and 81.50 needs cleared now to take pressure off

12 Apr 2013 02:54 pm
Between now and Monday expecting 75 to at least get a retest and really should breakthrough that unless the market remained very strong

12 Apr 2013 02:57 pm
Just in 18 point drop from top to bottom, and should be 24 points at least, and that would be 69 area where breakout occurred.

12 Apr 2013 03:12 pm
As long as 80.50 is held there can be a bit of short covering but shouldn't take out 82.50/hold unless going to close strong towards 84

12 Apr 2013 03:18 pm
81.25 should be pivotal in a pullback from just over 82.50

12 Apr 2013 03:31 pm
81.25 able to hold on the pullbacks so far. That will still be pivotal in the last 30 minutes. They pop up to the 84 area and sold into

12 Apr 2013 03:33 pm
Have a great weekend! Should be a good Monday for some good-sized moves. I will catch you around the open. Take care

Thursday-April 11, 2013

(time stamps are EST)

11 Apr 2013 09:24 am
Mostly will be trading from the short side today. Internals reached overbought for first time in 2+ months

11 Apr 2013 09:29 am
A bounce from 82 is possible but will be sold into. But they break/hold then this turns

11 Apr 2013 09:37 am
Per last nights update the pressure stays on under 84. 83.75 high so far. They break the 82 should mean 79-78 at least

11 Apr 2013 09:49 am
Just the little pop-ups were sticking until reversing out from 81. 82.50-82 is key, should not be broken if going to make another push higher

11 Apr 2013 09:51 am
Just a little higher at 86.50-87.50 area is where the key area is in should be tested before a reversal attempt

11 Apr 2013 09:52 am
Needs to stay above 84-83.50 area on a dip to keep a strong uptrend for now

11 Apr 2013 09:58 am
84.50-84 and needs to hold to it to 86.50-87.50. If thats reached and rejected it can start a decent pullback. It may be already starting

11 Apr 2013 10:01 am
84-83.50 tested, A pop-up should be sold into, especially the NQ.

11 Apr 2013 10:05 am
86.50-87.50 just a missed sofar. That is potential reversal area, the 84-83.50 is now key support the rest of the morning.

11 Apr 2013 10:13 am
87 reached so far. It will take a move back below 85.50-85 S that doesn't turn right back up to put any pressure on for pullback/drop

11 Apr 2013 10:18 am
Resistance rejected, a retest would be a short also.

11 Apr 2013 10:30 am
87.00 was sold down to 84.75 where turned back up. At resistance, but 84.50 yesterdays high area would need to be broken to begin reversal.

11 Apr 2013 10:35 am
They're going to need to make another run up to take out 87.50/hold, don't see that happening

11 Apr 2013 10:49 am
Runaway market on the upside still, pullbacks have been 1.75, 2.25, and 2.25 points off of the highs and then back up again. We've had this

11 Apr 2013 10:52 am
Pretty much since Monday morning low. 89 is a level that came up 2 times when doing "resistance" up here. But need more than 2.50 point dip

11 Apr 2013 10:56 am
88.50 support on a dip, or about 1.75-2.50 points off of the high.

11 Apr 2013 11:02 am
Simply amazing melt-up to this point, should begin to get toppy now that this has gone parabolic,

11 Apr 2013 11:10 am
Buyers backing off. 88.50 area is the key support on a pullback, there's a chance to go to 92-93, Holding 90 keeps it very strong. Next update 15 minutes

11 Apr 2013 11:30 am
93 resistance was rejected, and buyers starting to back away. Next pop up a short opportunity

11 Apr 2013 11:43 am
91.50 is resistance on a bounce, if they pop up and turned back from that area, another ~4 point pullback

11 Apr 2013 11:54 am
ES made a tiny double bottom at 88.25, but there is pressure on unless 90.50-91 is cleared and not sold into instead. 84.50 area still key S

11 Apr 2013 12:09 pm
Normally would be a sharp move up after trading sideways, but no strong buying interest to get this even above 90

11 Apr 2013 12:21 pm
88 was broken by 1 tick and turned up. Fullback held 88.00 and turned a back up. If third trip gives break/hold of 88 changes market dynamics

11 Apr 2013 12:27 pm
Pops are not able to stick, even though 88 has been holding. This can be a move that breaks the market down. A short at/under 89-89.50

11 Apr 2013 12:38 pm
a decent move up off of 87.50 to 89.50, pullback needs to hold 88.50 if going to try another push higher

11 Apr 2013 12:55 pm
The action has thinned out, but needs to stay over 89 to have a chance to make another push higher. If broken than a bounce that follows fails

11 Apr 2013 01:00 pm
This should even see the 89 area for a while or will be getting a little bit weak. Retest of 93 possible. If 90.50 holds

11 Apr 2013 01:16 pm
Stalled out and should be sold under 91.50 area

11 Apr 2013 01:17 pm
NQ looks weaker than the ES if there is a decent pullback from up here

11 Apr 2013 01:21 pm
91.50 and is reached but must get a break of 90.50 and hold, market acting better up here than originally thought

11 Apr 2013 01:26 pm
If there no bounce from 90.50, then breaking down and a bounce that follows would be a short down to the 88 area

11 Apr 2013 01:30 pm
90.50 was touched and bid up so far, has to hold that area to have a chance to go through 92 and test high. Breaking down if not held

11 Apr 2013 01:36 pm
Turn right up from poke to 90.25 and at 92, should see 93 and may go higher the way this is acting. Just be careful for potential double top

11 Apr 2013 01:43 pm
If another push higher it will be sold into, not able to stick around 92-93 area

11 Apr 2013 01:47 pm
Bounce from 90.50 should have trouble around 91.50-91.75 if going lower

11 Apr 2013 01:53 pm
Bounces stopped at 91.25, market has a top in place the way the indicators set up just put in one day late

11 Apr 2013 01:56 pm
It should go back to the 84-82 area do not today then tomorrow. 89.50-90.50 resistance. 87.50-86.50 support

11 Apr 2013 02:06 pm
88-89 area resistance on bounce

11 Apr 2013 02:15 pm
Pressure stays on with one minute chart set up and the e-book guiding this since 1:50 PM. 88 currently needs cleared

11 Apr 2013 02:18 pm
86.50 was a small support, that should hold for a bounce back towards 88, that area needs pushed through with momentum. 84.50-84 next S area

11 Apr 2013 02:32 pm
88 broken and so far held on a dip. If not held, they bounce after that should be sold into

11 Apr 2013 02:35 pm
88.25+ bid on a pullback, now should be some selling around 89.50-90 area

11 Apr 2013 02:39 pm
89.75 ounce high so far, 88.50 needs held or could be breaking down from that resistance

11 Apr 2013 02:43 pm
The bounce stopped right in important resistance area for this afternoon at 89.50-90.00 area. Chance to test high if exceeded/held.

11 Apr 2013 02:48 pm
Not expecting a bounce to stick at higher levels. But needs to hold 88 area on pullback and bounce, or could see a drop towards 44.50 area

11 Apr 2013 02:50 pm
Market will be vulnerable rest of the afternoon unless 90 area is pushed above/held. Don't see that happening but not impossible.

11 Apr 2013 02:54 pm
That is 84.50, not 44.50. 88 holding for now, but Good sellers above if another bounce stalls again in the 89.50-90 area.

11 Apr 2013 03:03 pm
Barely poked over 90 but did not stick. 89 and then 88 support. Could go higher but not stick over 91 if reached

11 Apr 2013 03:11 pm
89.50-89 needs to get bid right back up, if that's broken then trend can change. They push over 91.50 will be sold most likely

11 Apr 2013 03:17 pm
I need to leave a little early today. This area is not liked by the market and odds are you will see these prices again after a bounce

11 Apr 2013 03:19 pm
Outside chance they run up to around 96 which is around 1600 on the cash, but doubt that given today's action, sell bounces. 88 key may be broken

11 Apr 2013 03:20 pm
Have a good rest of your day, catch you tomorrow shortly after the open

Wednesday-April 10, 2013

(time stamps are EST)

10 Apr 2013 11:49 am
Hello. I will need to be away for 20 minutes and just a bit. But notice that the pullbacks today have been 2.75, 2.25, 2.50 points. So

10 Apr 2013 11:53 am
it has been another mini melt up kind of day. Tiny pullbacks and steady buying all the way up. By end of the day/tomorrow this will be ready

10 Apr 2013 11:55 am
For a pullback, but needs to break strong upside momentum and trend, at least break the symmetry of the tiny pullbacks <3 pts

10 Apr 2013 12:01 pm
79.25-78.75 area needs to hold on pullback to keep upside intact. It is feeling a bit top heavy with sellers above on bounce

10 Apr 2013 12:11 pm
2.50 point pullback off of the 82 high so for. Shouldn't go much further than that to keep this strong uptrend going as it has

10 Apr 2013 12:15 pm
I will be away for about 20 minutes. Should trade from long side unless/until more than just a 2.25-2.75 point pullback.

10 Apr 2013 12:43 pm
After the fourth 2.25-2.75 point pullback held, they moved to a higher high at 83.25 so far. 82 area small support,

10 Apr 2013 12:44 pm
If broken, still should not drop farther than 2.25-2.75 pts and continue grinding higher

10 Apr 2013 01:09 pm
Tiny double top at 84 area, but other double tops been pushed through on the way up. 82-81 area needs to hold on pullback

10 Apr 2013 01:25 pm
There is other support aside from the 2.25-2.75 point pullback symmetry around 82-81.50. This will stay in strong trend up mode unless broken

10 Apr 2013 01:28 pm
86.50-87.50 should be a pretty strong resistance/target on outside. A turn back down from that area possible but careful top picking, need rejection

10 Apr 2013 01:32 pm
The Fed minutes were leaked early today and means there will be eight 2 PM release the way I understand it. A 53 not held, next to bounce sold

10 Apr 2013 01:46 pm
Yet another 2.25 point dip off of the high was held. 8280 support area now, a cluster of numbers around that area at the moment

10 Apr 2013 01:58 pm
Going sideways with the last two pop-ups being sold into. However, unless a break under 82-81.50 the trend up intact. 79-78 S if broken

10 Apr 2013 02:25 pm
Third rejection of 84 telling, should be in for bigger pullback, especially on breakup 82

10 Apr 2013 02:29 pm
Another 2.50 point pullback bought at 81.75, but bounced should not be able to stick. Resistance around 83-83.25 if going to break

10 Apr 2013 02:47 pm
The drop to 81 is the deepest pullback all day, 81.50 should hold to test high or higher.

10 Apr 2013 02:51 pm
It looks like 82 would need to be bid right back up if tested to avoid potential rollover, or at least have trouble holding gains begin

10 Apr 2013 02:59 pm
A close up here with internals like this will put almost all internal gauges at overbought extremes, odds of pullback have gone up

10 Apr 2013 03:11 pm
Could get a bounce, but 82 would need to be pushed through with some gusto or going lower after that move stalls

10 Apr 2013 03:17 pm
If there is a late day bounce, it will need to get back above 82-82.50 and not turn right back down. High should be in. 79-78 area support

10 Apr 2013 03:20 pm
79-78 Should be key support end of the day. If not held, bigger trends begin turning down.

10 Apr 2013 03:27 pm
End of day bounce started n, 82-82.50 needs to be cleared/held not rejected. 81 minor support a strong, 80 should hold

10 Apr 2013 03:31 pm
82-82.50 was pushed through by one tick then reversed, some pressure on unless 52.50 exceeded/held down to 81-80.50

10 Apr 2013 03:38 pm
It looks like a pullback should hold around 81.50-81 at the worst and turn back up if today is going to end on a strong note

10 Apr 2013 03:45 pm
86.50-87.50 is the resistance on the upside, would expect selling into that area if reached. Have a good rest of your day,

10 Apr 2013 03:45 pm
I will catch you tomorrow around the open. Should be a good trading day given the way things have been going

Tuesday-April 9, 2013

(time stamps are EST)

09 Apr 2013 09:22 am
Not able to stay over 62.50. 62-63 strong resistance to clear/hold. 60.50 and then the 59 area minor

09 Apr 2013 09:24 am
Per last night's update look for the early strength to be sold, and then a decent pullback a buying opportunity most likely

09 Apr 2013 09:35 am
Pop up to resistance and turn down, 58 area support

09 Apr 2013 09:44 am
Use 57.75-57.25 support as target area to cover any shorts and potential for a bounce. If no sign of that, down to 54

09 Apr 2013 09:49 am
The 62.00-62.50 zone was sold in the 1st minute and 6th minute. 58.00 low 1 tick over 57.75-57.25 support. Need a push over 60.50

09 Apr 2013 09:53 am
Stair stepping down with 59.25 a key resistance now. This bounce should fail around 58 is going lower towards 54 support area

09 Apr 2013 10:02 am
58-58.50 area pivotal resistance on this bounce

09 Apr 2013 10:13 am
58-58.50 area barely poked over, 58 needs to hold that worst from here to avoid another push lower

09 Apr 2013 10:17 am
58.25 held on the dip and turned up, if 60 is pulled over look for a turned back down

09 Apr 2013 10:26 am
Support now around 59, needs to hold over that area to keep up trend. Look for sellers on retest of 62-62.50

09 Apr 2013 10:31 am
Just missed resistance and sold again. 59.50 key support now, 57 area under that

09 Apr 2013 10:37 am
59 pullback low, 2 pullbacks and this uptrend of 2.25 points. 59 a key support for now

09 Apr 2013 10:41 am
Sell against 61.25-62.00 double top, needs deeper pullback then very strong rally to get through that zone

09 Apr 2013 10:51 am
Pullback held 57.75 and bounce back to 59.25, bounces not sticking and now 57.75 needs held or a bounce that follows will be sold also

09 Apr 2013 10:56 am
So for we have 2 sided action, bounce from 57 area could go to 58.50 and turned back down if on our way to the low or lower

09 Apr 2013 11:03 am
58.50 sold right down, that is pivotal up here and market still under pressure unless exceeded/held

09 Apr 2013 11:06 am
Pop up to 58.75 was quick. 57 area better support. Another push higher may not stick, but avoids trouble as long as 57 held

09 Apr 2013 11:19 am
57 held for a bounce but they are not sticking, another bounce should fail and a lower low made

09 Apr 2013 11:26 am
So far this pullback low held 55.50 lo of the day, but another push lower if hold under 58 and 2779 on NQ

09 Apr 2013 11:32 am
A double top and double bottom and side of the first 30 minute range. Two-sided action, should sell off from 59, if not then a poke to 60.50

09 Apr 2013 11:45 am
A hold over 59 needed if there is going to be a push over 60. If there is a push over 60, expect it to be sold into

09 Apr 2013 11:50 am
60 was touched/sold down to 59. 58 area pivotal on pullback and should get a test

09 Apr 2013 11:59 am
61.75 area possible on this move, only if 59.50 is held in pushed up quickly. Next update in about 10 minutes.

09 Apr 2013 12:14 pm
59.50 holding so uptrend still intact and can try for 62 area again. Just need a good push through 61, not reverse again

09 Apr 2013 12:24 pm
61.25 was reached, if this doesn't hold 60.50 then 59 area could be back same again. If 60.50 holds, chance to test/break 62-62.50

09 Apr 2013 12:31 pm
ES went to 60.25 then pop up. About to test 62-62.50 and maybe go a bit above, sign of reversal so far. But pullback when stalls out likely

09 Apr 2013 12:32 pm
61 area is support now on a pullback. Should see buyers back off up here pretty soon, and buy pullback but careful up here

09 Apr 2013 12:40 pm
62.50-62 area should hold as support if this is going to stay strong, otherwise 61 area would be next support. A pop-up to new high sold

09 Apr 2013 12:49 pm
So far 62 held on a dip, still bullish unless broken. A token higher high likely sold into, also watched 2788 on NQ for breakdown potential

09 Apr 2013 01:02 pm
62 was only broken by one tick, keeping this in an uptrend and not rolling over. This can push towards 66 next if continues

09 Apr 2013 01:10 pm
62.50 area is support, if that is broken then 61.75 could be a key area to hold to avoid potential reversal. 64 then 66 R

09 Apr 2013 01:19 pm
Still good buying similar to yesterday, as long as 62.50 holds at worst, stays in strong uptrend. 66 next

09 Apr 2013 01:25 pm
66 was just messed, pullback should not go under 64.50-64 at the worst to keep this pushing higher. Careful not to go against this unless turns

09 Apr 2013 01:30 pm
Now the 65.50 area needs to hold to keep this really strong uptrend intact. If broken then 68 may not get tested, yearly high and should be important

09 Apr 2013 01:39 pm
A bounce back to 67 that shows rejection would set up at least a scalp on the short side. Otherwise, if no bounce, 64.50 key is next

09 Apr 2013 01:46 pm
high and just under the 68 previous high, should see buyers back off some up in this area. Its been a good rally, the key S is 65.50 still

09 Apr 2013 01:58 pm
The ES missed the 1568.00 High for the year by 1 tick and pulled back to 66.25 so far. This is about as far as pullback should go

09 Apr 2013 01:59 pm
if going to attempt getting back to test the high and not starting toppy action

09 Apr 2013 02:08 pm
66 held button of follow-thru on bounce, stopping at 67.25 and getting a little toppy. Appears must stay over 66 or potential reversal if not

09 Apr 2013 02:12 pm
it has been strong up day but backing away from prior high. A bit top heavy, still, appears no damage done unless break/hold under 66.

09 Apr 2013 02:17 pm
I think it is a short on another pop-up if there is one, market has gone a long way and lost momentum

09 Apr 2013 02:20 pm
64-63.50 area could get a test if a decent pullback, should hold there or the 61.50 trend transition possible

09 Apr 2013 02:30 pm
65.50 just 2-point pullback and back up again.As long as dips are just ~2 points this can grind higher. Anything more could change dynamics

09 Apr 2013 02:44 pm
68 area should be support now if this is going to stay strong and try to get the S&P cash to 1576 area. Another 2.50 points

09 Apr 2013 02:47 pm
68 held so far and shouldn't go much further or could continue and take out 67. If that happens, it would be two points and key

09 Apr 2013 03:03 pm
As long as 67.75 continues to hold this has potential to test 71.50-72.50. Doubt that can happen today, it has been strong/trend up but not

09 Apr 2013 03:03 pm
If 68 broken and held under

09 Apr 2013 03:09 pm
Too much of a pullback, 67.50-68 good resistance on a bounce and should be hard to break/hold

09 Apr 2013 03:12 pm
The way the market acted for the 15 it was up there, should be decent sellers around the high. Two good days in a row. Should be a high made

09 Apr 2013 03:14 pm
Either today or tomorrow. If this rallies and to tomorrow with good internals, internal gauges finally get to extremes they 1st in months

09 Apr 2013 03:16 pm
Needs to close above 65.50 to stay in bullish position on my charts.

09 Apr 2013 03:20 pm
67.50-68 area tested and sold. That is key and a day

09 Apr 2013 03:28 pm
Bounce to 67.75 was sold into. Again, significant area and a sad day and 64 area then 62.50-62 support below

09 Apr 2013 03:32 pm
Could be a small bounce attempt but unless 67.50 area cleared/held late day the market still a bit vulnerable. Have a great day!

09 Apr 2013 03:33 pm
I have to be away in the morning for Dr. appointment, will hopefully be home around noon. Will update ASAP.

Monday-April 8, 2013

(time stamps are EST)

08 Apr 2013 09:22 am
51 area key early, good resistance around 51-52 if that's reached this morning. A pullback should come before bounce attempt

08 Apr 2013 09:34 am
1548.50 area sold and is key resistance this morning, if post above then 50.50. 45 area next support

08 Apr 2013 09:44 am
First try at 48.50 sold into, 47 needs to give quick bounce back if going higher

08 Apr 2013 09:45 am
45 and then 43.50

08 Apr 2013 09:47 am
45.25 was reached so far, 47 area bounce resistance should not be taken out

08 Apr 2013 09:50 am
46.50-47 area should be sold if there is going to be another push for lower to break 45 and go for 44.25 fixed support

08 Apr 2013 09:59 am
44.25 support/target was reached and a bounce. Pullback and rally from 44.50 needed if a chance to go a bit higher.

08 Apr 2013 10:02 am
Bounces going to fail or have hard time holding, 46.50-47 strong resistance to break/hold above

08 Apr 2013 10:07 am
44 support is keeping ES from going to 42 area. Another pullback should hold that area, 46.50 resistance, needs cleared to get squeezed higher

08 Apr 2013 10:10 am
There was a little double top at 48.75-48.50 resistance, double bottom just under 44.25 support. 45.75 pivotal here

08 Apr 2013 10:14 am
If there is another pop-up it will be sold into. If this breaks 45 and doesn't get turned right back up a new low possible

08 Apr 2013 10:20 am
Wedge pattern broken, a bounce should be sold around 45 area if reached. 42 area key just below

08 Apr 2013 10:25 am
44.75 sold on the bounce, it's possible for one more pop up to 45-45.50, but bearish unless cleared/held still

08 Apr 2013 10:30 am
Tiny double bottom at 43, a bounce could go to 46 if this is going range bound

08 Apr 2013 10:38 am
The bounce made it to 46, has two stay over 45 at worst, or will retest 44-43.50.

08 Apr 2013 10:41 am
Needs to push above 46.50-47 and hold soon, or drop-just started must hold 45 or down to 44 area or lower

08 Apr 2013 10:42 am
If a bounce from 45 it will need to have gusto and pushed through 46.50-47 and be able to stay up there. Should not be able to or strong

08 Apr 2013 10:48 am
45 a key support now that it has been defended. 48.50 tests and then some pullback, 46.50 support

08 Apr 2013 10:50 am
Should hold on a pullback to the 47-46.50 area if going to stay in a good strong up trend. If broken back into trading range

08 Apr 2013 10:53 am
47 held on the dip and that is trended support, 45 is pivotal in this range if no push over 48.50.

08 Apr 2013 11:01 am
Pullback from 48.25 so far holding 47-46.50, but staying under 48 area. Could it get hit if 45 not held. IF 48.50 exceeded 50.50

08 Apr 2013 11:06 am
Buyers backing away at 48. On ES and around 2765 on the NQ. Key areas, if 45 broken may not see that area for a while, 43.50 area possible

08 Apr 2013 11:13 am
45 was able to hold, and 46.50 able to hold also, market stays in uptrend towards 50.50 as long as 46.50 not broken

08 Apr 2013 11:19 am
Well, 48-48.50 area along with 2765-2766 area on NQ are turning into strong resistance, 46-45.50 bought on dip. That is needed broken sound

08 Apr 2013 11:29 am
5 or 6 tests of 48 area, but a good bid on a pullback in holding 46 mostly. A break above 48.50, that holds, needed. Break of 46 could start fast drop

08 Apr 2013 11:36 am
Everything moving sideways currently, a very long stall at a resistance. Need a break/hold over 48-48.50 to avoid potential drop

08 Apr 2013 11:42 am
If 48-48.50 broken/held, then 50.50-51.25 would be next. 46.50 area needs held to have chance. Next update in about 15 minutes.

08 Apr 2013 12:01 pm
One hour of trading between 48.25 on top and 45.50 on the bottom, last pullback low at 45.75 bid back up. Can pop up again but fail under 48

08 Apr 2013 12:17 pm
A hold under 46 would put pressure on, and could give a 42 area

08 Apr 2013 12:25 pm
The bottom of the range broken by 2 ticks so far to 45.00, which was pivotal on the way up. Could bounce but staying under 46.50 bearish

08 Apr 2013 12:30 pm
Bounced stopped at 46.25 so far, but as long as it turns right back up from 45.50 there could be another move back up

08 Apr 2013 12:39 pm
Pullback held at 45.75 and turned up and reached 47.50 so far, stays in an uptrend unless 47 broken right now

08 Apr 2013 12:47 pm
47 has been holding if that is broken then another top could be in place but holding keeps door open to poke over 48 area

08 Apr 2013 01:02 pm
Still has decent buying on dips, but still stuck under 48 area. To keep upside knowing 47 area needs to hold and give quick bounce

08 Apr 2013 01:14 pm
46.50 was held on the pullback, 48 touched on a pop up. If 48 area broken above, then 50.50-51.25 possibly fast on squeeze

08 Apr 2013 01:25 pm
48.50 sold again. 46.50 area key support. Buyers backing away, but forced in on move over 48.50

08 Apr 2013 01:39 pm
Token higher high was sold, 47.50 area needs to give a quick pop back up, or the thin upside action can reverse.

08 Apr 2013 01:44 pm
47.75 pullback low and more buying coming in, 50.50-51.25 could still be seen especially a hold over 48.50 on a dip

08 Apr 2013 01:54 pm
50.50-51.25 zone was reached,still just a small pullback.A hold over 50 needed to make another decent push higher.Could be topping otherwise

08 Apr 2013 02:00 pm
There is some resistance around 52, stronger at 54 but 52 should be tough to get through. A pullback should be 2-3 points, maybe more depending

08 Apr 2013 02:01 pm
Depending on momentum. 50.50

08 Apr 2013 02:13 pm
54-54.50 should offer some resistance, but stays trend up as long as 51.50 is broken

08 Apr 2013 02:17 pm
52.50-52 should hold if going to get to 54-54.50. Strong trend up unless 52 broken, and then 50.50 would be key.

08 Apr 2013 02:24 pm
A reversal bar from 1 tick under resistance, It has been trend up but can start drop if 52 broken

08 Apr 2013 02:28 pm
If 52 is broken, then 51.25 would be just below and also key area. Back towards 48.50-48 if not able to hold

08 Apr 2013 02:36 pm
52 able to hold so far, but struggling to hold as good resistance at 54. A move into the 54-54.50 area possible as long as 52 is held.

08 Apr 2013 02:38 pm
If that 52 area is broken, and not turned right back up, then a high could be in and 54-54.50 may not be tested

08 Apr 2013 02:46 pm
The move is stalling out a bit, but as long as 52.50-52 not broken through, up trend still intact

08 Apr 2013 02:52 pm
Probably not going to see piling in and drive this strongly over 54. Should be pulled back before such a move could be sustainable

08 Apr 2013 02:58 pm
The NQ is having trouble up here, the ES will have a hard time taking out 54-54.50 if it doesn't get turned up pretty soon

08 Apr 2013 02:59 pm
Could drag the market lower along with the Dow possibly rolling over. Keep an eye on both. A break/hold under 52 not good

08 Apr 2013 03:11 pm
So for pullback held just above 52, if broken end of day could be unexpected drop in instead of somewhat typical run up

08 Apr 2013 03:17 pm
54-54.50 still a good resistance, it has been a strong day but has to punch through 54-54.52 and that way. 52.50-52 key support must hold

08 Apr 2013 03:28 pm
The market has had good buying all afternoon, there could be selling around 50 for-54.50 area but no damage to trend unless/until 52 broken

08 Apr 2013 03:30 pm
Have a good rest of your day, I will catch you tomorrow shortly after stocks open

Wednesday-April 3, 2013

(time stamps are EST)

03 Apr 2013 09:24 am
I'm in no rush to be a buyer up here. On a decent pullback if things set up. Should be sellers into strength as soon as upside stalls.

03 Apr 2013 09:27 am
a couple of economic releases at 10 AM. I'm going to update less at what should be tradable area Today.

03 Apr 2013 09:32 am
64 needs to hold for a bounce that follows should be sold into. That is key support this morning

03 Apr 2013 09:35 am
66 minor resistance needs broken/held, that should be hard to get over and hold. If it's broken through than 68 area possible

03 Apr 2013 09:42 am
It turned out from 66 wrote 64 support, 62.50-62 needs to get a bounce or market in trouble. 64.50 bounce resistance area

03 Apr 2013 09:47 am
the NQ acting different than ES, that needs to get above 2818 and hold to help the ES. Otherwise 58.50 area coming

03 Apr 2013 09:50 am
Short covering pop-up should not get above 62.50, if it does then 64-64.50 good resistance

03 Apr 2013 10:03 am
58 area reached, 60 minor resistance Pressure stays on unless they break/hold above 62.

03 Apr 2013 10:07 am
could bounce from 56-55.50 area but acting poorly so far and should have a hard time holding on a bounce. 60 area resistance

03 Apr 2013 10:16 am
Trying to base out at 57 and could get back to 60 and possibly test 61.50-62.50 area resistance

03 Apr 2013 10:18 am
If 57 is broken then 55.50 area is next and then possibly done to the 52 area before a turn back up

03 Apr 2013 10:25 am
Finally able to get above 58.50, now needs to stay above 58 on pullback or could break down. 61.50 area still resistance

03 Apr 2013 10:36 am
Holding 57 so far but bounces haven't had much gusto, unless 59.50 area Taken out they can still go lower

03 Apr 2013 10:53 am
Trading between 57 and 59.50 for quite a while, could get a move to 61.50 on breakout but pulled back when

03 Apr 2013 10:57 am
55.50 area should be in the cards now that bottom of the range poked through. Bounces a short under 59.50 area

03 Apr 2013 11:03 am
55.50 reached and a tiny bounce but still can go lower court's 52 as long as it stays under 57.50-58 bounce resistance

03 Apr 2013 11:17 am
52.50 missed by a few ticks, but needs to get above 55.50 and then hold around 50 if going to try to bounce, more trouble otherwise

03 Apr 2013 11:20 am
Need to get above 55.50 and then hold 55 on a pullback to get a bounce, but probably not going to stick.

03 Apr 2013 11:30 am
55.75 sold three times, shouldn't go much higher before another pullback.

03 Apr 2013 11:38 am
55.75 would need to be pushed above and not come right back down for anything to get going on the upside. Still a short under

03 Apr 2013 11:47 am
Double bottom was pretty decent buying, could try for 57-58 if no trouble at 55.75 again

03 Apr 2013 12:00 pm
55.50 needs to hold now to get to 57 which missed by 2 ticks so far

03 Apr 2013 12:07 pm
Getting another bounce not likely but if so it should not be able to hold, just look for shorting opportunities on bounces. Top in place it appears

03 Apr 2013 12:16 pm
Some short covering from 54.50, these bounces not going to stick, 57 should be maximum if a decent bounce

03 Apr 2013 12:25 pm
A lower low that the 52.50-52 area should be in the cards to break the double bottom, trend down day

03 Apr 2013 12:34 pm
52.75 gave the bounce. If 52.50 doesn't hold, can go for the 48 area. 54.50 area resistance now. Also keep an eye on NQ, has led and weaker

03 Apr 2013 12:43 pm
54.50 was sold and a retest of the 52.50 area needs to turn back up with gusto and take out 54.50-55 and be able to hold.Shouldn't. Trend day

03 Apr 2013 12:50 pm
Pressure stays on as long as a bounce is just 2-3 points on ES. Could be seeing 48 or lower if no decent bounce. 15 minute break

03 Apr 2013 01:18 pm
Diaz had a 2.25 point bounce off of the low and back down again. Probably short covering, but came right back this time. 54.50 needs cleared

03 Apr 2013 01:25 pm
Can interrupt trend day if 54.50 is exceeded and then holds 53.50 area on a dip. Stay trend down otherwise. NQ could be different, 2898 R

03 Apr 2013 01:41 pm
The 48 of 48 level was reached, that is fairly important area. Could bounce, but now 50-51 strong resistance on bounce

03 Apr 2013 01:52 pm
Retest of 47.50 will need to turn right back up, a move above 50.25-51 area needed to take some pressure off

03 Apr 2013 02:03 pm
Still haven't had a bounce more than 2.50-3.25 points on the ES. That would be 1549.75 currently. Unless broken/held it stays trend down

03 Apr 2013 02:10 pm
A very quick snap back off of the low. If this cannot push lower soon we get some short covering, starting as I write. 47.50 support

03 Apr 2013 02:16 pm
Best bounce all day by 1 tick so far, has Too stay over 48 area or could test the low area before bounce attempt

03 Apr 2013 02:18 pm
Don't expect this to go to far, 51.50 area should be strong and hard to break/hold. 53.50-54 area possible if 51.50 reached and not rejected

03 Apr 2013 02:27 pm
48 held so far, but still bearish under 50 for now, retest the low must hold

03 Apr 2013 02:35 pm
48 broken by 1 tick, 47.50 key and must hold to avoid new low. If 50 broken, 51.50 area, then pull back likely

03 Apr 2013 02:46 pm
50-49.50 should hold if there is going to be another push to the upside

03 Apr 2013 02:51 pm
A quick bounce after pulling back to test 50, the key resistance for this move should be around 53.25-54 area

03 Apr 2013 02:56 pm
If this doesn't push through 52 and 50.50 is broken then the trend can turn back down again

03 Apr 2013 03:00 pm
Need to be away for about 10 minutes. I'll be surprised if there is a strong end of day rally. 50.50 needs to hold

03 Apr 2013 03:13 pm
This will stay in a downtrend unless 50.50 is broken above, but a bounce back to 52-53 should be sold

03 Apr 2013 03:27 pm
A bounce will need to get back above 49.50-50 area and not turn right back down to get some sort of bounce back towards 52 or lower.

03 Apr 2013 03:29 pm
Hope you had a good day. I must be away tomorrow, so read tonight's update. I will catch you here on Friday morning. Take care
 

Tuesday-April 2, 2013

(time stamps are EST)

02 Apr 2013 09:31 am
A pullback should hold 58 area to stay in good uptrend

02 Apr 2013 09:39 am
62.50 key support but a push above 65 not likely

02 Apr 2013 09:45 am
62.50 held twice if broken a high could be in

02 Apr 2013 09:51 am
The first move above 65 should be sold into buttons long as 64 area held the buyer still in charge

02 Apr 2013 09:53 am
65.50 sold and can be a top if no good bounce from 64 area

02 Apr 2013 09:56 am
64 trying to hold, if high not in likely going to be sold on a retest. Factory orders at 10 AM

02 Apr 2013 10:00 am
62.50 held and the token higher high sold and then 64 held on dip and that is key level

02 Apr 2013 10:03 am
Buyers should back off at the new highs, but only A reversal if 64.50-64 broken.

02 Apr 2013 10:12 am
One more pop up is a short, 67 should be a high for a while

02 Apr 2013 10:16 am
The new high are being sold and making easy scalp trades at worst, 65.50 needs cleared to get another pop-up or 64 or lower

02 Apr 2013 10:18 am
If another pop-up from 64 should be sold possibly hard if turned down at 65.50

02 Apr 2013 10:29 am
This move 64 held pretty well, but pop up to 66.25 unable to stick, 65 needs held or test 64, if broken then back to 62.50 area.

02 Apr 2013 10:35 am
Back down to 64 area, another bounce should fail under 66 if we are topping out up here,

02 Apr 2013 10:43 am
The pop up reached 66, but needs to stay over 65 two attempt one more push higher

02 Apr 2013 10:48 am
68 is possible if a push over 67 is not immediately sold, 65.50 needs held or breaking down

02 Apr 2013 10:55 am
Stalling out just under 68 resistance, It would take a break of 66 to turn this back down for a bit

02 Apr 2013 11:09 am
68 was sold and 66.50 tested on pullback, a break under 66 would put some pressure on but 68 area good resistance

02 Apr 2013 11:15 am
66 held but the pop-up stopped at 67.25 and buyers backing off, better odds on a short with 68 being rejected

02 Apr 2013 11:29 am
66 held and 68-68.50 tested/sold. high will be in place if 66 area not held. 1576.09 on the SPX next resistance if 68 exceeded, not easy

02 Apr 2013 11:40 am
Even if they bounce from 66 it's not going to be able to stick, 64.25 would be next if 66 broken/held

02 Apr 2013 11:51 am
Should have a high end place with a double top at 1568 resistance. Another bounce will be sold. The NQ easier short at the moment

02 Apr 2013 11:58 am
66 was broken by just 1 tick so far, a bounce from here not likely going to make new high and hold. 68 still the key resistance, 67 minor

02 Apr 2013 12:11 pm
67 minor resistance sold in a very slow market, needs a break/hold under 66 to roll over a bit from up here

02 Apr 2013 12:11 pm
Just a heads up: I will be gone from 12:45 PM until around 1:30 PM this afternoon. I will update as soon as I return.

02 Apr 2013 12:32 pm
If 56.75 continues to hold there is a chance to poke back to/above 67.50-68.50 but not likely to stay up there.

02 Apr 2013 12:36 pm
Would just look for shorting opportunity on pop-ups as not likely going to stay up there if there is another one, 65.75 area key below

02 Apr 2013 12:41 pm
Market has found a tiny range to frustrate traders in, should break to the downside. I will be back in about 45 minutes

02 Apr 2013 01:38 pm
They dropped down to 65 getting bid back up, but should fail to clear 67.50 and hold so look for shorting opportunity

02 Apr 2013 01:51 pm
67 was reached on the bounce and sold, pullback needs to hold 65 which is turning to key support up here.

02 Apr 2013 02:02 pm
Another pop up sold but still holding 66 if that is broken and not turned right back up then pressure finally on, could pop up otherwise

02 Apr 2013 02:31 pm
Finally breaking down and now 65-65.50 is a good resistance

02 Apr 2013 02:33 pm
The 62-61.50 area should be important on further weakness, and if no sign of a bounce from there then 58.50 area possible

02 Apr 2013 02:35 pm
Keep an eye on the NQ as it has led the way down. 65-65.50 on the ES and 2815-16 on the NQ on the NQ bounce resistance

02 Apr 2013 02:41 pm
Look for a bounce attempt from 62.50-61.50 area. 58.50 if that doesn't happen. Another bounce to 65-66 should be sold

02 Apr 2013 02:48 pm
The ES reached 62.25 and turned up but this bounce should stick 65 strong resistance

02 Apr 2013 02:58 pm
Only two feeble bounces from 62.50 area 58.50-58 area would be next if a break/hold under 62. If a pop to 65-66 should be sold

02 Apr 2013 03:06 pm
62.75-62.25 zone tested 5 times and most hold or 58.50-58. A bounce should have trouble breaking/holding 65.50 area

02 Apr 2013 03:22 pm
In danger of further breakdown unless 64 area taken out on a bounce to relieve some selling pressure for a bit

02 Apr 2013 03:32 pm
Bounce from 62-61.50 zone but going to 58 area if this stays under 63 on another bounce attempt

02 Apr 2013 03:39 pm
Still need a push above 64 that sticks, then 55.25-56 area could be seen. a move under 62 not quickly reversed should mean 58 area

02 Apr 2013 03:41 pm
Buyers are backing away and suggest doing the same until trends turn up or a bounce from 58. A short on bounces otherwise

02 Apr 2013 03:42 pm
There should be good selling into a bounce as soon as upside stalls out for a minute or two

Monday-April 1, 2013

(time stamps are EST)

01 Apr 2013 09:27 am
Support and resistance were in play last night, 59-58 should hold at about the lowest to keep being strong. 64 meets broken/held on top

01 Apr 2013 09:37 am
Unless 62.50-62 broken trend stays up but can have trouble around 64

01 Apr 2013 09:45 am
Pullback off of 64.50 just a small one, new highs sold, has to stay above 63. ISM top of the hour

01 Apr 2013 09:49 am
This is a potential early high if cannot hold above 63.50-63 on a dip or get above 64.50 and hold above that level on second break

01 Apr 2013 09:54 am
Couldn't hold 64.50 but not aggressively sold in pullback holding 63 so far, ISM should shake this up

01 Apr 2013 09:58 am
Early high should be in place, if not a higher high will be sold most likely. 59-58 next support is a break of low

01 Apr 2013 09:59 am
Both the ES and NQ were unable to hold initial resistance and a short under that

01 Apr 2013 10:02 am
Plunged to the 58 support and 55 next. A bounce to 61.50 area would be sold into

01 Apr 2013 10:08 am
Unable to hold under 58 on the downside so far also, opposite of at the top. 61.50-62 bounce resistance

01 Apr 2013 10:18 am
61.25 bounce high so far, can go back to 58 or lower if 61.50 not exceeded and able to hold up there.

01 Apr 2013 10:24 am
As long as 59.50 is held there could be another push up towards 62 but should have some trouble staying there

01 Apr 2013 10:33 am
A short under 60.50-61, should go back to the 58-57 area or lower

01 Apr 2013 10:37 am
Staying under 59.50 should keep pressure on for new lows towards 56-55

01 Apr 2013 10:43 am
55.50 reached so far, A bounce from 56-55 area should stay under 58.50 to keep a good downtrend intact.

01 Apr 2013 10:49 am
Down to the 54.25-53.75 area minor, the 51.25-50.50 major area today

01 Apr 2013 10:56 am
54.25 just missed and could pop up from here a bit, minor/trend resistance at 55.50 then 57 area

01 Apr 2013 11:04 am
Unless the ES can break and hold back over 55-55.50, it stays trend down to 51.25-50.50 next.

01 Apr 2013 11:16 am
55.50 touched twice. Look for resistance at 57 if this does get through 55.50, and then hold 55 on a dip. Must get through or lower low

01 Apr 2013 11:26 am
Should make a lower low following the Dow cash, but a double bottom possible. No gusto on bounces so far and 55.50 key

01 Apr 2013 11:29 am
Okay, and outside day with higher high and lower low than last Friday. This happened last week, and had good rally back. Its possible, 55.50

01 Apr 2013 11:31 am
Needs to be cleared and then held on a small dip. 57 area minor resistance and 58.50 stronger area for pullback/selloff if 55.50 pushed above

01 Apr 2013 11:41 am
Needs to have a good bounce from 55 and take out 56.50-57. If not good bounce but just wimpy, should be sold into. 55 must hold still weak

01 Apr 2013 11:48 am
Two-sided action, 54.50 is as far as pullback should go. If there is one more pop up that takes out 56.50 the 58-58.50 area could be next

01 Apr 2013 12:00 pm
We had a reversal from just about resistance 15 minutes in, a drop to 57.50 support area, bounce attempt failed at 61.25 just under 62.50 R

01 Apr 2013 12:02 pm
then down to double bottom at 53.25. Bounce back so far just missed 57. That could be a bounce high for a breakdown. If not and 57 cleared

01 Apr 2013 12:03 pm
it will be sold into. 58-58.50 would be key on bounce/retracement of downtrend. Right now 55.50-56 resistance

01 Apr 2013 12:05 pm
Likely to be a "sell the bouncers, cover on dip" kind of day or potential trend day with a low and the last 30 minutes

01 Apr 2013 12:15 pm
The NQ is weaker off of it bounce high that needs it back above 2800 and ES over 56.50-57 or going back towards 54.50

01 Apr 2013 12:22 pm
Taking a 15-20 minute break. Sell bounces down to the low or possibly 51.50-50.50 at the NQ gets hammered further

01 Apr 2013 12:34 pm
Just some short covering after retests, bounces not going to stick, still a short unless 56 cleared/held down to 51.50-52.50

01 Apr 2013 12:39 pm
53.75-53.25 tested 4 times. If broken they can slide to 51.50-50.50. The NQ still weak under 2796, ES 55.50-56

01 Apr 2013 12:52 pm
If there's going to be a decent bounce back this afternoon it has already started, 55 should hold to not just a feeble bounce and drop down

01 Apr 2013 01:03 pm
56-55.50 must hold or back into choppy downtrend from a potential double top. Otherwise could get to 58-58.50

01 Apr 2013 01:16 pm
Running out of steam and must stay above 56 area to keep uptrend from breaking here. Currently at 60 EMA resistance, 57.50 10 AM low also

01 Apr 2013 01:26 pm
46.50 should hold to keep uptrend knowing and get to 58-58.50, could go higher towards 60-61

01 Apr 2013 01:27 pm
Broke out as soon as I hit send, 58.50 reached, no damage done as long as 57.50-57 not broken. If 58.50 exceeded 60.50

01 Apr 2013 01:34 pm
A direct hit on 58.50 giving a pullback, to keep strong uptrend going there needs to be a good bounce from 57 at the lowest appears

01 Apr 2013 01:39 pm
57.50 was bought and has to stay over that area to continue uptrend, 57.25 should be pivotal.

01 Apr 2013 01:42 pm
This needs to make its move higher over 58.50 in the next 5 minutes if going higher and not back to 57

01 Apr 2013 01:45 pm
57.50 area now resistance, a break under 56.50 needs to turn right back or could go back to 54 area again

01 Apr 2013 02:00 pm
The bounce back to the bounce back to 57.50 sold back to 56.25 so far, ES needs to get back above that area to have a chance for 60.50

01 Apr 2013 02:15 pm
56.75-56.25 holding on the pullbacks, getting sold at 57.50-58 area, unless things have changed the buyer should win out. But 58.50 still key

01 Apr 2013 02:20 pm
Not acting normal holding under 58, the 55 area next and the low if not held

01 Apr 2013 02:33 pm
55 reached and now 58 area resistance on a bounce

01 Apr 2013 02:34 pm
That should have said the 56 area resistance, 56.50-57 should not be exceeded/held on a bounce

01 Apr 2013 02:44 pm
little bounce to 55.75 was turned back down, the ES reached 54.50 while the NQ a new low, turned up. 56.50-57 need cleared to take press off

01 Apr 2013 03:02 pm
A bounce to 56.25 and couldn't get above 56.50-57 resistance and back down to 55. Name move over that resistance to take pressure off

01 Apr 2013 03:11 pm
56.25 sold again, but not dropping to four. They push above 56.50 that is not turned right back down needed or stays vulnerable lower low

01 Apr 2013 03:11 pm
Would be possible folding under 56 area

01 Apr 2013 03:19 pm
55 minor resistance than 56.25 is the key area late in the day. This can go for 51.50-50.50 easily if they break 54-53.50,

01 Apr 2013 03:27 pm
54.50-55 Resistance, should have a low and place if those are cleared. Have a nice rest of your day

Thursday-March 28, 2013

(time stamps are EST)

28 Mar 2013 09:24 am
Don't expect a bounce to stick over 58-59 area this morning if reached. If 55 broken/held trends can change and test 51-50 area

28 Mar 2013 09:26 am
A bounce can set up from that area if it's reached and stalls out. Should be a slow dull day but we will see

28 Mar 2013 09:29 am
bounced off of 55 pre open and has to stay over that too have a chance to reach the 58-59 area

28 Mar 2013 09:35 am
Could go to 60.50 if a breakout then turned back down from that area, right now needs to stay above 57.50

28 Mar 2013 09:37 am
A break back down through 58-57.50 would need a quick bounce to avoid failure up here

28 Mar 2013 09:40 am
shouldn't take out 58.50 and go for 55 area

28 Mar 2013 09:45 am
If 56 not rejected there would be a chance to get to 57.50 area

28 Mar 2013 09:51 am
not yet a hold under 55, buyers there. Need a pullback from 57.50 58 area if going to break that

28 Mar 2013 09:58 am
Drop from just over 59 resistance stalled after barely poking under 55, trend up move since. 57.50 area needs to hold. New high sold

28 Mar 2013 10:07 am
57.50 broken but no acceleration, a hold of 57 and move over 58.50 needed to get more upside and not reverse

28 Mar 2013 10:16 am
The first push above 58.50 came right back down, spent very little time above that level and failed on the first bounce, must be cleared/held

28 Mar 2013 10:22 am
Unable to get back above 58 so far, but also strong bounce from 56, holding that keeps upside in gear to test high

28 Mar 2013 10:25 am
If just a small pullback from resistance holds 57.50 area, still a chance for another push higher before selling comes in

28 Mar 2013 10:27 am
55 support held early and then to lows at 56.50, there will be selling come in maybe at a token higher high, 56.50 key support under 57.75

28 Mar 2013 10:32 am
58 is a potential transition area, if broken then back into the 58-56.50 range

28 Mar 2013 10:34 am
Token higher high was sold and now 58.50-58 needs to hold or bounces will be sold into

28 Mar 2013 10:35 am
As could be breaking down and take out 56.50 after another pop-up possibly

28 Mar 2013 10:41 am
Pullback held 58.50, retest of high at 59.50 was sold but no damage done unless 58.50-50 broken. A high likely in if 58.50 broken, sellers under 60

28 Mar 2013 10:47 am
Just missed 60.50 Resistance and backed off and 58.50 must hold or a high end place for now

28 Mar 2013 10:55 am
So far pullback held at 58.75, with trend up action again today. A bit different at new highs, buyers should back off and selling come in a bit higher

28 Mar 2013 10:57 am
Dynamic support is holding on the way up to be bought, unless a reversal or sign of a top. 60 area support now

28 Mar 2013 11:02 am
Can pull back to 60.50 area but not much lower, could be a high in place for a bit if 60.58 area broken

28 Mar 2013 11:14 am
Pullback barely broke 60.50, needs to hold above that to avoid test of 59-58 area again. A retest of 62 area should be sold

28 Mar 2013 11:18 am
If unable to clear/hold 62 on this bounce by either stalling out or being rejected again can set up a pullback. But still bullish above 60.25 right now

28 Mar 2013 11:22 am
The NQ is lagging on this move up barely poking through the Globex high and turning down from 2810.50 Resistance, it needs to stay over 2805

28 Mar 2013 11:36 am
This is the type of action scene around highs, the token higher high kits sold into on every attempt, then 1.50-2.00 dip must hold

28 Mar 2013 11:37 am
To get another pop-up, needs to stay above 60.25 at the lowest. The NQ has been going sideways, the Dow uptrend near breaking

28 Mar 2013 11:44 am
The Dow looks to have topped out or will be sold if there is one more pop higher. Could go for 58.50 area if no bounce from 60.50

28 Mar 2013 11:48 am
So far on the other 2.25 point pullback to 60.50, key area. 58.50 area if broken. A test of 62-63 should be sold into.

28 Mar 2013 11:58 am
Pop up to 62 quickly sold into, 61.25 uptrend support, 60.50 could go if not hold. Just careful on short side for now, 60.50 key still

28 Mar 2013 12:03 pm
From here it will be shorting the bounces, buyers backing off and especially 62-63 area, if that's as far as it goes, 58.50 easy target than

28 Mar 2013 12:04 pm
Next update in about 15 minutes

28 Mar 2013 12:23 pm
58.75 reached so far, could bounce but now resistance at 60.50 area should be sold into, 2805.50 on NQ

28 Mar 2013 12:27 pm
58.50 is an important area, prior high and then transition this morning, along with 60 EMA on 5-minute chart.

28 Mar 2013 12:28 pm
56.50 area could be tested if that 58.50 area not defended. 60.50 area Resistance

28 Mar 2013 12:33 pm
A bounce from 58.25, and should get back to 60-60.50 area before pulling back.

28 Mar 2013 12:44 pm
59.75 bounce highs so far, if 59 holds they can get to 60.58 area. If that isn't sold into, then retest of high possible

28 Mar 2013 12:50 pm
59.50 area is pullback support, needs held at worst if going to test 62-63. Need to be away about 10-15 minutes, be right back

28 Mar 2013 01:07 pm
The stall at 60.50 should keep some pressure on, if that is cleared there could be a squeeze towards 62-63, but first needs over 60.50

28 Mar 2013 01:26 pm
Looking on bigger intraday timeframe, the 58 resistance area popped over for just a few seconds on the open, dropped to 55 support area

28 Mar 2013 01:26 pm
then after reversing up, stalled at 58 area, then broke/held making transition to upside then 62-63 sold back down to 58.25. So as long

28 Mar 2013 01:26 pm
As that 58.50-58 zone breaks, no damage done. Just expect decent bounce to be sold into near high or a bit higher

28 Mar 2013 01:31 pm
That should say "unless 58.50-58 zone breaks, no damage done." Currently 61.50 is resistance on this bounce, up to 63 area if broken

28 Mar 2013 02:00 pm
It's probably going to stay slow and thinly traded and try to keep the S&P 500 cash above 1565.15 all-time high close this afternoon

28 Mar 2013 02:10 pm
Stalling here must hold 60.50-60.25 to avoid breakdown and get another attempt to push higher towards 63

28 Mar 2013 02:30 pm
Almost reached 62, staying over 61-60.50 area needed to keep solid uptrend intact

28 Mar 2013 02:49 pm
The ES spent little time trading above 62 this morning, was quickly rejected. This move more likely to stick

28 Mar 2013 02:51 pm
As long as 61.50-61 is held on a pullback that will stay in a strong position, things may change if that is broken

28 Mar 2013 03:00 pm
Potential for a double top, but 61 would need to be broken to dent the upside momentum. If a new high, then 64 area

28 Mar 2013 03:08 pm
Double top at 3 o'clock and eight quick 2 point drop, 61.50 should be resistance if going to make one more push lower

28 Mar 2013 03:19 pm
Only a pause at 61.50 as some market back near the high again. They push above 62.50 that is not turned down quickly needed to squeeze up to 64

28 Mar 2013 03:20 pm
A break under 61.25 that then holds on a bounce attempt would mean some late pressure, but downside should stick

28 Mar 2013 03:23 pm
end of the week month and quarter, careful trying to fade this, one more day and at long last internal gauges could give sell signals

28 Mar 2013 03:24 pm
A break under 61.50 that doesn't turn right back up would be needed to try turning this lower.

28 Mar 2013 03:26 pm
Have a great holiday and a long weekend, I will be looking forward to Monday's trading, catch you on Monday morning

Wednesday-March 27, 2013

(time stamps are EST)

27 Mar 2013 09:22 am
If the ES opens under 50.25, and then can't get back above 51.25-52.25, the potential for an island reversal pattern. Shooting Star pattern

27 Mar 2013 09:29 am
I will be away today from around 12:15 PM until 1:15 PM, just a heads up I will send a reminder. Also, less updates today.

27 Mar 2013 09:39 am
Bows from 45.50 area and should be resistance at 48.50-49

27 Mar 2013 09:44 am
A pullback from 49 will need to hold above 48-47.50

27 Mar 2013 09:50 am
Fullback bounced from 48 but no power so must get above 49 and hold to avoid retest the below

27 Mar 2013 09:57 am
This can go to 50-50.50 or a bit higher as long as 48 is held. 48.50-48 should be good support, or else deeper pullback

27 Mar 2013 09:59 am
Pending home sales in one minute

27 Mar 2013 10:00 am
The market will stay under pressure unless a break and hold above 50

27 Mar 2013 10:07 am
49.75 sold, A saw tooth pattern higher and pull back needs to hold 47.50 area or breaking down

27 Mar 2013 10:16 am
The stall out just under 50 sold, 45.50 would need to be turned up fast if reached, otherwise they could continue down to 42.50 area

27 Mar 2013 10:18 am
pressure stays on unless 48-48.50 is taken out instead of being sold into

27 Mar 2013 10:22 am
Still have cleared 50 but has a chance as long as 48 holds, that is pivotal

27 Mar 2013 10:28 am
Can pull back to 49.50-49 at the worst to keep up trend

27 Mar 2013 10:33 am
49.75 held so far, 51.50-52.25 was a breakdown area on Globex and should be some "last trapped" at that area.

27 Mar 2013 10:44 am
Pullback should hold around 51, look for sellers at 53.50 for a dip but trend in momentum up unless 50 area broken

27 Mar 2013 10:51 am
53 sold, good resistance up there 51.50 area needs held or uptrend breaking

27 Mar 2013 10:54 am
NQ almost back to 2800, it has been touching that or going just a bit above but really having trouble there.

27 Mar 2013 11:01 am
51.25 pullback low so far, must hold, this should have a hard time around the 54.25-55 area if 53 broken

27 Mar 2013 11:05 am
There is good selling around 22 1/2

27 Mar 2013 11:08 am
The move lost its momentum and could go down to the 50.25-49.75 area or lower before bouncing

27 Mar 2013 11:18 am
We had a gap down open, and as I've stated before they oftentimes are trended days. This can be the case as long as 50.75-50 holds on dip

27 Mar 2013 11:19 am
Minor support 53-52.50 area. 54.25-55 should be tough to push through/hold on first attempt

27 Mar 2013 11:35 am
52.50 was broken by 1 tick and turned back up, that keeps trend up move intact with 56 area resistance if 54.25 exceeded and small dip hold

27 Mar 2013 11:44 am
Stairstep higher and a pullback should be small, 53-52.50 area, if this is to continue its trend up action to 56 area.

27 Mar 2013 11:47 am
Look for a pullback of 1.50-2.25 points to be bought. That is about as far as a pullback should go to continue trend up action

27 Mar 2013 11:55 am
If they pop up from here it will be a shorting opportunity, especially the NQ under 2800 which has been a spot where a swing trade can begin

27 Mar 2013 12:02 pm
A trend up move into noon Eastern time usually gives a bit bigger counter trend move than what's been normal. 2 point pullback so far, must

27 Mar 2013 12:05 pm
Must hold 53.50 area to keep upside symmetry intact. Or a pullback >2 point IF a higher high and not make a 1-2-3 top

27 Mar 2013 12:07 pm
I need to be away in just a few minutes, and back around 1:15-1:20 PM. This has topped for now and 52.50 key area

27 Mar 2013 12:16 pm
Symmetry is still not broken, but important for the ES to get above 55 and the NQ to get over 2800 and hold. Market vulnerable under those

27 Mar 2013 12:18 pm
If 53.50 holds and 55 is taken out, they run up to 58-59 is possible. Back in about an hour

27 Mar 2013 01:09 pm
Double top/1-2-3 type of top in place at 55.50-55.25 and staying under 54.50-area on bounce should keep pressure on for 52 and maybe 50.50 pivotal area

27 Mar 2013 01:36 pm
53 should hold if this is going to get back to the 55 area which is still an important resistance. 52 double bottom must hold

27 Mar 2013 01:44 pm
ES held at 53.50 and reached 55, 54 level needs to hold to keep up side from potential reversal again. 56.50 would be next

27 Mar 2013 01:54 pm
I need to be away from 2 PM until 2:30 PM this afternoon. Busy day with weekly radio appointment and home appointment in 10 min

27 Mar 2013 01:54 pm
Apologies, I will update as soon as I get back. Look for another test of 55.50-56.25 for reversal. If 54 not held, high maybe in

27 Mar 2013 02:16 pm
I will be in and out over the next 30-40 minutes instead, so can update if necessary. This is still trend up but almost to the 58 R

27 Mar 2013 02:17 pm
Need to hold over 55 or the downside could get a bit of momentum

27 Mar 2013 02:31 pm
55 held in a test of 58-59 possible, the stays trend up unless 55 broken for now

27 Mar 2013 02:48 pm
Trend up only was interrupted by a noon time top and pullback of just under 4 pts on the ES. 57.25 highs so far, 58-59 area next.

27 Mar 2013 02:49 pm
55 still key/pivotal area although 58-59 should be hard to break/hold if reached. Double top at 57 could be it for a while

27 Mar 2013 03:07 pm
Last hour selloff underway unless 56 area cleared/held on a dip, even then will be tough making higher highs and holding

27 Mar 2013 03:11 pm
That pullback bounced off of 55.25, and that is the key area end of the day. If broken, but need to bounce right back or dynamics changing

27 Mar 2013 03:30 pm
58-59 area reached. Should stay over 56.50 area if going to breakthrough. But 55 Key support end of the day. Have a great day. See you in the morning

Tuesday-March 26, 2013

(time stamps are EST)

26 Mar 2013 09:23 am
Could be a high at 52.25 but need to take out 50 and hold down there

26 Mar 2013 09:40 am
Needs to clear 53.50-54 resistance, a break of 51.50 should mean early high in

26 Mar 2013 09:46 am
53 area needs to hold or a breakdown could be starting

26 Mar 2013 09:48 am
Another pop up should be sold into, and Econ data top of the hour

26 Mar 2013 09:51 am
Pullback held at 53.50 so the door still open to pop up one more time, but likely sold into. In any case 53 area pivotal

26 Mar 2013 09:56 am
Easy pullback to 53.25, 55.50 possible. This must stay over 53 form now or breaking back down again

26 Mar 2013 10:00 am
55.25 rejected, should make a breakdown after the number

26 Mar 2013 10:02 am
53.50-54 area should be sold on a pop up if week in breaking down

26 Mar 2013 10:08 am
Reached 54 and stopped, 52.50 needs a broken/held if this is going to roll over again. Better bid off of the low than expected

26 Mar 2013 10:13 am
As long as 53-52.50 is held on a pullback no damage done, but should see pullback when upside stalls

26 Mar 2013 10:14 am
54 needs to hold on this pullback to have a chance of popping to another higher high around 57

26 Mar 2013 10:17 am
That should be a top and a short on another pop up towards 54.50-55

26 Mar 2013 10:24 am
53 has been pivotal, only broken for a minute on the 10 AM releases. A break back under that should mean top in, likely is anyhow

26 Mar 2013 10:31 am
Watch 57 for a reversal

26 Mar 2013 10:33 am
The new highs being sold which is bearish, 54.50 needs to hold or we may not get another decent push higher

26 Mar 2013 10:36 am
Looked to be short something up here for a decent pullback

26 Mar 2013 10:37 am
Especially a test of 57-58 area that stalls out. They break under 53 would need to turn right back up or some damage done

26 Mar 2013 10:44 am
A bounce from just under 53, should not make a higher high on this move, next support at 51 and then the 49.25.

26 Mar 2013 10:50 am
52.50-53.25 area resistance on this bounce. 54 at the Max

26 Mar 2013 10:54 am
The 54 maximum level reached in now in an uptrend possibly to test the high is 52.50 holds and 54 is broken

26 Mar 2013 10:56 am
As to bounce off of 52.50 area with enough gusto to take out 54 if going to test highs and avoid another drop towards 49

26 Mar 2013 11:00 am
Not able to stay above 54 for a very long, so far looks to be good sellers above, and pretty good buying/short covering not far below

26 Mar 2013 11:13 am
Stuck here unable to break/hold 54 so should try the other side is 52.50 taken out especially

26 Mar 2013 11:21 am
A bounce should back away from 35.25 area to continue lower

26 Mar 2013 11:29 am
Decent buying at 51.75, it has been choppy and back and forth in a tiny range so far and consider it under pressure unless 54 exceeded

26 Mar 2013 11:35 am
Just backed off from 53.75, but could be just a dip in a tiny uptrend unless 52.50 broken

26 Mar 2013 11:37 am
Next update in about 10-15 minutes unless something changes

26 Mar 2013 11:52 am
54.25-54.75 zone should be sold into it a pop

26 Mar 2013 12:04 pm
54.25 was sold and a quick drop down to 53.00 was bought. The NQ softening up, the Dow needs through 14,550 on this push-up or back to 53-52

26 Mar 2013 12:19 pm
Finally cutting through 53 and that could give a little pop-up, but looks like a short under 55 or a by gone around 51 if reached in stalls/reverses

26 Mar 2013 12:26 pm
If 51 doesn't hold than 50.25 low and then the 49-48 area. 53 should be pivotal resistance on a bounce

26 Mar 2013 12:34 pm
A bounce from 51.25 (60 EMA on 5-minute chart also) back to the 53 level and if this is going to go back down, this is the spot

26 Mar 2013 12:42 pm
51 area is a key support, unless 43 is broken/held this remains vulnerable. If held 55 still key on top

26 Mar 2013 12:45 pm
Watch 52 on a pullback, a break could pick up a bit of steam and then turned back up. Next update after 10-15 minute break

26 Mar 2013 01:02 pm
Still it is vulnerable unless 53 is exceeded/held. It has only been one tick above, needs to push through with gusto pretty soon.

26 Mar 2013 01:15 pm
At the moment 53 is holding that could go for 54 area but not stick up there. 53-52.50 area needs to hold to have an bounce and avoid rolling over

26 Mar 2013 01:28 pm
54 area should hold on a dip

26 Mar 2013 01:31 pm
55 level turned the market back 2 previous attempts and needs to stay above 54 and punch back up is going to get a move back towards 57

26 Mar 2013 01:38 pm
The NQ a bit weaker and has lots of trouble with 2800, that area along with 55 on the ES need pushed through soon as going to 57, 54 trend S

26 Mar 2013 01:50 pm
This can make a run for 56.50-57 zone if 55 is broken through. And not instantly sold back down

26 Mar 2013 02:02 pm
54.75 area needs held above to keep upside going towards 56.50-57. If broken then rolling over is possible,

26 Mar 2013 02:12 pm
If another pop up stops around 55 and turns back, that could start a pullback. Otherwise okay unless 54 broken

26 Mar 2013 02:21 pm
Pullback held at 54.50 and should keep grinding higher to 56.50-57 on this leg up,

26 Mar 2013 02:25 pm
If there is going to be a reversal of this grinding higher movement we have had since around 12:25 PM, it should come from near 57 55.50 now support

26 Mar 2013 02:30 pm
The NQ rejected 2800 resistance, keep an eye on that for a pullback from that area, and 56.50-57 likely top if 55 broken

26 Mar 2013 02:46 pm
There could be a bounce but it should not stick as the high should be in or sold on a retest especially the NQ

26 Mar 2013 02:52 pm
Barely holding 54 support opens the door to go back to test the high or likely a lower high but 55.50-56 possible

26 Mar 2013 03:09 pm
56.50-57 will need to be pushed through to avoid double top and try for the 58-58.50 area from yesterday

26 Mar 2013 03:13 pm
56.25 sold on first test, but 55.25 should not be broken if strong, and the 54 area key support end of the day. No damage done unless broken

26 Mar 2013 03:14 pm
Just watch 57 for rejection, could start pullback if that occurs, 2800 area: NQ key resistance there

26 Mar 2013 03:19 pm
Pullback from 56.75 In gear. However trend is up and no dent in the upside unless 55.50 broken

26 Mar 2013 03:29 pm
The ES held just above 55.50 and reached 57.50, soundly rejected 56 area needs held for another try or reverse

26 Mar 2013 03:31 pm
It will take a strong market with no fear of selloff to get above 58 on the ES and 2800 on the NQ. That's possible if 56 area not broken

26 Mar 2013 03:35 pm
If they get through 58.50 look for a squeeze to 60.50 area and then decent pullback.

26 Mar 2013 03:35 pm
If 56-55.50 happens to break in the last 30 minutes, then could have a high in place and a pop-up after would fail.

26 Mar 2013 03:36 pm
Have a good rest of the day, I will catch you in the morning

Monday-March 25, 2013

(time stamps are EST)

25 Mar 2013 09:25 am
60.50 was reached and there that is reached again and turned down it could be a high for today. 52.50-51.75 a key support

25 Mar 2013 09:29 am
The 56.50-57.25 initial resistance needs to be cleared/held up here to have a chance for 60.50

25 Mar 2013 09:34 am
Big Resistance sold, if 54 not held them down towards 52.50-51.73 before a bounce comes in

25 Mar 2013 09:41 am
A bounce from 54, that needs held to avoid deeper drop. If 56.50-57.25 pushed through, then 60.50 possible before turn. 55.50 minor support

25 Mar 2013 09:46 am
56.50-56 should not be broken for this to continue strong and avoid getting top-heavy up here

25 Mar 2013 09:51 am
Should be sellers between 58-59, 56.58 key/pivotal support area now

25 Mar 2013 09:58 am
58 sold - needs to take out 56.50 area and not turn right back up for this to reverse

25 Mar 2013 10:01 am
Gap days are oftentimes trend days but doubt that happens at new highs. As long as 57-56.50 not broken/held 60.50 possible top area

25 Mar 2013 10:12 am
Bounce from 57.25 but losing upside momentum and needs to push through 58.50 and stick. If not able 57-56.50 must hold to avoid drop

25 Mar 2013 10:13 am
It's a short against 58.50, that should not be broken/held

25 Mar 2013 10:17 am
57 holding at the moment but unless bounce takes out 58.50 and does not turn right back down, toppy action with lower to go

25 Mar 2013 10:25 am
56.50-57 resistance on a bounce now should be sold

25 Mar 2013 10:28 am
52.50-51.75 will need to get a bounce or it goes for 50 or lower

25 Mar 2013 10:35 am
Bounces should fail, 55-55.50 minor resistance and then around the 57 level should be strong resistance if 55.50 exceeded

25 Mar 2013 10:38 am
Still could go for 52.50-51.75 or lower if unable to clear 55

25 Mar 2013 10:42 am
51.75 reached so far, needs more than just a feeble 1.50-2.00 point bounce or we could end up with a trend down a day from 10 AM high

25 Mar 2013 10:45 am
53.50 resistance now, minor support around 50 then down to 48, then 46 major area today

25 Mar 2013 10:54 am
So far just a feeble bounce with resistance at 52, 53.25 at the highest

25 Mar 2013 10:55 am
Just a 1.75 point bounce so far keep steady downtrend

25 Mar 2013 10:58 am
Small double bottom attempt, but 48.50 low on Globex will be next if this stays under 51

25 Mar 2013 11:03 am
46 key area has been reached and could go to 42 if no bounce from here. 49.50-50 if more than just 1.75 point bounce

25 Mar 2013 11:17 am
A bounce stopped at 50, retest of key zone or lower if not broken. If that is cleared than 52-52.50 should be sold into

25 Mar 2013 11:21 am
If 43-42.50 broke and not turned right back up market and some bigger trouble, 46.50-47 resistance

25 Mar 2013 11:32 am
Bounce from 43.75 support up to 46.50 was sold, needs to clear that area to take some pressure off. Must hold 43 to avoid outside day on ES

25 Mar 2013 11:37 am
Should be a low 43-42.50 support area for a while if 45.50 can hold. 50 area key on a stronger bounce. Next update in about 10 minutes

25 Mar 2013 11:49 am
Good selling around 48 on the last pop up. Has to stay above 46.50 or back down to test low. 50 still important above in case a push higher

25 Mar 2013 11:55 am
If another pop-up it will be sold into especially around 49 area again, 46.50 still must hold

25 Mar 2013 12:05 pm
Little pop-up reverse that 48.50 and if that's not cleared this is vulnerable and could breakdown fast again

25 Mar 2013 12:08 pm
46.50 is the key area just below, A break of that can start downside. Back in about 15 minutes.

25 Mar 2013 12:33 pm
stayed under 48.50 and 46.50 was broken and down to the low. That 46.50 now resistance, these lows may break if not cleared

25 Mar 2013 12:40 pm
Should be a short covering pop on testing the low but not happening at least so far, needs to turn up soon and take out 46-46.50

25 Mar 2013 12:47 pm
A very tepid bid back up so far, should fail and test/break below

25 Mar 2013 12:52 pm
If failed to clear 46 There will be a chance for a token lower low at 43 and that must hold or 38 area

25 Mar 2013 12:56 pm
43 reached but as long as hold under 45.50-46 area, the gap Day is a trend day on the downside into last hour

25 Mar 2013 01:08 pm
Every little pop of about two points is being sold and should see 38. It starts to get dicey if that is broken

25 Mar 2013 01:13 pm
Finally a decent upturn with a quick bid off of 39, needs to take out 42

25 Mar 2013 01:18 pm
The ES obeyed the dynamic resistance all of the way down, and the support zones at 46 area, 43 area and just

25 Mar 2013 01:20 pm
Just now the 38.50 level and a bounce needs to break/hold above 41.25-42 area showing some strength for a switch needed for better bounce

25 Mar 2013 01:26 pm
Bounce with some gusto at last, but may not stick on first bounce. 41 now a key support on a pullback. 43.50-44.25 resistance and likely sold if one more small push stalls

25 Mar 2013 01:33 pm
44 dynamic resistance sold, this pullback needs to stay above 42 to have a chance to move a bit higher. If broken 41 key

25 Mar 2013 01:36 pm
For those of you just got e-book, At 44 there is the 20 EMA and also symmetry equal to last bounce at same level. Tick extreme. Good scalp

25 Mar 2013 01:46 pm
Market trying to make transition at 41.50, need to push above 44.25 on this move and then have just a small pullback

25 Mar 2013 01:49 pm
They move up to the 46-46.50

25 Mar 2013 01:51 pm
Not fast enough, 43.50 should hold on a pullback from up here. Should stay over that at the lowest look for sellers 48 area

25 Mar 2013 02:00 pm
The ES popped up to 49.50 which just above a late morning high at 49 need to hold above 46.54 can come down a bit further towards 45

25 Mar 2013 02:02 pm
A break under 47 would need to turn right back up or 45.75 gets tested

25 Mar 2013 02:15 pm
45.75-45.25 needs to hold on this move lower or could see 43 again

25 Mar 2013 02:23 pm
Pullback held at 46 and turned back up but needs to get back above 49.50-50 and not reverse or 46 gets tested again maybe lower

25 Mar 2013 02:30 pm
Good bounce but strong resistance at 49-49.50 that needs to be taken out to get something going on the upside

25 Mar 2013 02:36 pm
Should be breaking down if no bounced back above at least 57 to take some pressure off. 44-43.75 was a pivotal area from morning/early afternoon, must hold

25 Mar 2013 02:49 pm
A bounce from just above 44 not able to stick, double top at 49.50-49.25 knees broken on a bounce to get anything going on outside,otherwise

25 Mar 2013 02:51 pm
Bounces being sold as soon as the pop-up loses momentum and that should continue. Last hour rally not impossible, but market tone negative

25 Mar 2013 03:09 pm
Under 45-45.50 keeps pressure on down to 41.50 next

25 Mar 2013 03:14 pm
43.50 is transition level and they will need to break/hold under that to pressure down, if 45 not exceeded that could happen

25 Mar 2013 03:18 pm
Watch 45.50 for a turn back down, shouldn't be exceeded if this is still weak that should be sold

25 Mar 2013 03:19 pm
Possible to make a new low around 3:30 PM

25 Mar 2013 03:24 pm
We just sell bounces the rest of the day as long as bounces stay feeble and fail to clear 44-45 area. Look for short covering off of 40 or new low

25 Mar 2013 03:27 pm
Needs to get back above 44 at the least and not turn right back down to dent down side momentum. Have a great afternoon, "see" you tomorrow

25 Mar 2013 03:41 pm
A move above 45-45.50 that holds needed to end with a spurt to the upside, and avoid dropped back towards 42-41

Friday-March 15, 2013

(time stamps are EST)

15 Mar 2013 09:25 am
I will be very surprised if there is another good up day today. If there is an internals are strong and numerous sell signals likely

15 Mar 2013 09:29 am
They couldn't wait to sell, a bounce will have a hard time holding

15 Mar 2013 09:35 am
So far held 51.50-51 but can be broken to this holds under 54-54.50

15 Mar 2013 09:37 am
54-54.50 on the ES and around 2802 on the NQ key resistance on bounce, must be cleared to avoid another drop

15 Mar 2013 09:45 am
54 Resistance was sold down to 52 again, they break 51.50-51 would put pressure on and a top would be in.

15 Mar 2013 09:51 am
We get Michigan sentiment in about five minutes,

15 Mar 2013 09:55 am
Unable to get through 54.50 still a negative and a break of 53 would need to snap right back in break/hold that on release or quick drop

15 Mar 2013 09:57 am
51 broken, could get a pop-up but sold into around 52.50

15 Mar 2013 10:03 am
51 support was cut through and the 58.25-47.50 was almost reached. Market not acting well,

15 Mar 2013 10:05 am
51 is resistance, the 48.25- 47.50 major zone broken and held under, then the market would be in more trouble

15 Mar 2013 10:13 am
A little double bottom made just above a strong support, so if the "sell early than rally" pattern to continue first must break 51/hold

15 Mar 2013 10:15 am
If 51 not broken, a third trip down to 48.50 will probably pushed through

15 Mar 2013 10:19 am
Trying to hold, 52-52.50 area would be good resistance if 51 is cleared.

15 Mar 2013 10:24 am
Not a strong bounce yet, stopped at 52.25, needs to hold 51 to push higher

15 Mar 2013 10:28 am
So far barely pushed above 52.50, they hold over 51.50 needed to keep up trend and avoid another decent pullback/drop

15 Mar 2013 10:40 am
Stairstep higher again, this will be sold a bit higher up but no reversal unless 52 broken

15 Mar 2013 10:45 am
Good selling came in around 54 this morning, resistance up there. This could be a bounce high area if 52.50-52 area broken

15 Mar 2013 10:57 am
So far 52 held but another pop-up should be sold into the especially the NQ if the current action continues. 53.50-54.50 resistance

15 Mar 2013 11:07 am
Bounce off of 52 back to 53.75, should be some pullback from 54.50, but still uptrend unless 53-52 broken,

15 Mar 2013 11:15 am
We had a double bottom of sorts after the low made 30 minutes in, and now a potential double top on the bounce, a short under 54, 52 key S

15 Mar 2013 11:18 am
At the moment would wait for a pullback to the 52 area to see if market still strong

15 Mar 2013 11:21 am
54 cleared by 1 tick so far but Another pullback from this area should hold around 53.25 at the lowest to keep upside going

15 Mar 2013 11:23 am
53.75 area should hold on a dip to continue granting higher

15 Mar 2013 11:34 am
This has been stair stepping higher and now needs to stay above 54.50-54, or else topping out

15 Mar 2013 11:41 am
The 55.50-56 is a small resistance before the 57.25 hi from yesterday, 54.50 key, a pullback starts if broken

15 Mar 2013 11:49 am
It has been pretty thin and slowly traded since bouncing off 52.50-52 support earlier, and token higher high was sold, if 54.50-54 broken

15 Mar 2013 11:52 am
Then the slow trading could pick up pace as selling begins to take over. Drops are quick, the moves up are the slow grind stairstep patterns

15 Mar 2013 12:01 pm
I will be in and out this afternoon,also need to leave early today.Market has fear of sellers just above,54.50-54 held but need higher high

15 Mar 2013 12:22 pm
still strong holding 54.75, 54 the stair step higher support. 55.75 minor resistance, then the 57-58 area and that shouldn't be exceeded

15 Mar 2013 12:25 pm
And hold up there, should be some pullback from there if reached and not aggressively pushed above, but stalls instead

15 Mar 2013 12:30 pm
55.75 was touched and sold, might be a higher for a bit, 54 area more key

15 Mar 2013 12:42 pm
They held 54 and bounced right back, a move above 55.50 and hold up there needed to get a squeeze higher or 54 area tested again

15 Mar 2013 12:42 pm
Next update in about 20 minutes

15 Mar 2013 12:51 pm
Push above 55.50 brought in more buying, being sold. This can get to the 57-57.50 area IF 55.50 holds and gives pounce on a dip

15 Mar 2013 12:53 pm
Another bounce should fail now that 55.50 broken. 54.50-54 could be in the cards and that is key area or topping out

15 Mar 2013 01:04 pm
ES is still holding above 54.50, even so another pop up should be sold into especially a retests of 55.50

15 Mar 2013 01:16 pm
Small bounce from 54 but not go back to a higher high, 52.75-52 would be next support if broken

15 Mar 2013 01:23 pm
55 was sold on a small little move-up, that needs pushed above and held sooner or 54 is going to be broken

15 Mar 2013 01:36 pm
54 is holding and this very thin market. Most are watching basketball, no joke. That pop stopped at 55, unless that is exceeded/held

15 Mar 2013 01:37 pm
The 54 level likely to be broken. 52.75-52 zone would be next support if they break under 54. Next update in about 20 minutes

15 Mar 2013 02:14 pm
54 area should be Resistance on a bounce and 52.50 next support to hold before going to test the low

15 Mar 2013 02:27 pm
Breakdown led to easy move to the 52.50-52 target/support, should be key area to hold for going to the low following NQ

15 Mar 2013 02:48 pm
Could be a short covering move with 52.50 prior support is pushed above and does not come right back down. 48.25-47.50 major area next S

15 Mar 2013 03:00 pm
52-52.50 resistance, Could have a low in if the 52.50 area is pushed through and then 52 can hold on a dip.

15 Mar 2013 03:04 pm
Would not expect a move back to take out 54-54.50, but couldn't get there if 52 can hold. I am just about to call it a day, first quick note

15 Mar 2013 03:05 pm
Next week we are adding a look at my primary charts and mostly audio updates. You will need to bare with me trying this out, but hopefully

15 Mar 2013 03:05 pm
will provide more clarity and more timely updates. will basically be the same as now but with charts and audio. Look for an email

15 Mar 2013 03:05 pm
with all of the info this weekend. Have a nice weekend and I will catch you on Monday.

Thursday-March 14, 2013

(time stamps are EST)

14 Mar 2013 09:27 am
Good morning. An open above 51 so could get a move up if they turn up from there, but shouldn't go far from here before pullback

14 Mar 2013 09:30 am
As far as resistance numbers go, its a tough chore and only have one last method to use. Support members should be valid though. Look for 51

14 Mar 2013 09:39 am
If this is going to turn it should begin in the first 15-30 minutes. Possibly 55-56 area. But for now 54.50-54. Support

14 Mar 2013 09:47 am
Good selling and possible high At 55-55.25, tough to get through. No damage done unless 53.50 broken/held

14 Mar 2013 09:53 am
Buyers more bold than expected, a pullback should be down to 53.50 at the lowest to avoid potential top, 54.52 continued uptrend

14 Mar 2013 09:59 am
54.50 the key level to avoid breaking trend and potential top. Pop up

14 Mar 2013 10:01 am
55-54.50 needs to hold as this is stalling a bit, if broken and not turn right back up a high should be in.

14 Mar 2013 10:08 am
The high was made 30 minutes in and 54.50 broken, another bounce should be sold into, and a countertrend short under 56, to the 53 area

14 Mar 2013 10:09 am
And maybe lower. Should stay under 55 if going to get there or lower

14 Mar 2013 10:14 am
53.50 was reached that is a support area, only breaks down if that is taken out and then held, 51.50-51 is broken/held. NQ better short

14 Mar 2013 10:15 am
Now a hold under 54.50 needed to keep pressure on to test 51.50-51. NQ resistance at 2801

14 Mar 2013 10:20 am
Matched the early low and opening range, that is a key support and then probably under 51 if holds under 53.50

14 Mar 2013 10:28 am
51.75 low just missed 51.50-51, 53.50-54 resistance on this bounce needs cleared to get another push higher,

14 Mar 2013 10:37 am
53.50-54 area reached, should begin to pull back and break 53 if going back towards 51
14 Mar 2013 10:42 am

The ES currently stuck between 53.50 and 54.00, unless 53 broken this can still push higher but needs to go soon

14 Mar 2013 10:44 am
Just took out 54 and 53.50 should hold on a dip, at the lowest, or we will begin to see bounces sold into on the way down

14 Mar 2013 10:49 am
That should be a bounce high at 54.50 but if not then watch 55.50-56 for turn. A lot of double tops the past few weeks/months

14 Mar 2013 10:58 am
The ES still hasn't push above 54.50 and if 53.50 broken and no turn right back up then back towards 51.50-50

14 Mar 2013 11:01 am
A quick turn up from 53.25, so there are still buyers below on dips, but should be hard to drive it higher and still hold gains

14 Mar 2013 11:02 am
Would need to see ES break/hold 54.50, NQ do same at 2802, and to get out cash

14 Mar 2013 11:03 am
And get Dow cash above 14,520 to get everything going on the up side

14 Mar 2013 11:12 am
For now a short under 54.50 on the ES and 2802 on the NQ

14 Mar 2013 11:13 am
A top and unless those levels along with 14,520 on the Dow cash are broken on a move up and able to hold up there

14 Mar 2013 11:20 am
To try getting upside going needs to bounce with some gusto from 53.25 or a bit lower, with gusto through 54.50

14 Mar 2013 11:29 am
Its a standoff between tepid buyers not wanting to buy a high and shorts leery of getting run over on another runup. vulnerable under 54

14 Mar 2013 11:41 am
Another dip should be bought around 53.75-53.50 if going to try getting through 54.50

14 Mar 2013 11:45 am
That 53.50 area looks to be pivotal and if held they can have a chance to move back towards the high, if not then could roll over a bit

14 Mar 2013 11:51 am
This could turn into another double top if 54 area doesn't give a bounce and then pushed through the high. That is as far as a dip should go

14 Mar 2013 11:57 am
54.25 held on the dip and its back up to 55. 54 still the trend support to hold above to see 56.50, or another double top possible

14 Mar 2013 12:07 pm
54.25 has been holding and if the market is going to keep this melt up going that level should hold. If broken things change

14 Mar 2013 12:11 pm
Needs to continue and get through 55.75 early high and run-up to 56.50 area to keep this flying, 55-54.50 then pivotal trend support

14 Mar 2013 12:16 pm
Double top at the moment, some confirmation if 55 broken but 54.50-54 the key/pivotal support. 56.50 would be next resistance/target

14 Mar 2013 12:17 pm
10-15 minute break, will update if necessary

14 Mar 2013 12:30 pm
55 held on a pullback from double top and must hold or trend can reverse, another transition level until broken

14 Mar 2013 12:32 pm
Look for a reversal from 56.50 area even if just a small 1.00-1.50 point pullback. More than that it is a reversal

14 Mar 2013 12:40 pm
The pop-up reached 56.50, and buying should begin to dry up a bit, 55.50-55 area looks to be key to avoid possible sharper drop

14 Mar 2013 12:42 pm
It has been a mini melt up once again but this move getting long in the tooth and another pop up should be sold into

14 Mar 2013 12:44 pm
The NQ has yet to break out and just pulled back from a pretty good resistance area that has seen the past few days watch 2805 there for R

14 Mar 2013 12:48 pm
Pressure is on under 56 for now especially if 55 broken

14 Mar 2013 12:54 pm
Only 1 of 4 methods of finding resistance up here and 56.50-57.00 was target/resistance rejected. Less than 2 points off the high, lower

14 Mar 2013 12:55 pm
Lower prices and potential breakdown is 54.50 broken and not turn right back up

14 Mar 2013 12:58 pm
Sell a bounce from up here, a test of high or a bit higher would be a gift on the short side but not getting there, breakdown more likely

14 Mar 2013 01:08 pm
If were going to have a top in for a while and break 1554.50-1554.00 pivotal support then should stay under 56 on this move

14 Mar 2013 01:19 pm
54.50 area is pivotal, a drop down to 54 would need to turn right back up or else things are changing up here

14 Mar 2013 01:23 pm
The last time the ES was just over pivotal 54.50 yes and a pop up would be a gift short and 56 and 2803 on NQ reached. If in look for 52.50

14 Mar 2013 01:25 pm
If the 54 level is cut through. If bounce from here 56-57 good resistance so far

14 Mar 2013 01:34 pm
A wimpy bounce from 54 so far, need a move above 55 and stick to take pressure off and allow another pop-up or 52.50 in the cards

14 Mar 2013 01:39 pm
If short consider locking in some profit around 54 and 2798 on NQ, could get pop up from here

14 Mar 2013 01:41 pm
This could bounce but doesn't act like it wants to go up from these levels, NQ not far from its low and very weak versus ES

14 Mar 2013 01:52 pm
Needs to get over 55 on bounce and stick above that level, a shorting area for a scalp at least if reached

14 Mar 2013 02:00 pm
I have to be away for about 20 minutes, a short on a bounce attempt has 52.50 still in the cards, maybe even 51 to fill gap

14 Mar 2013 02:17 pm
bounce to 54.50 pivotal level was sold. That is resistance to clear/hold, and 52.50 still support/target below

14 Mar 2013 02:30 pm
buyers came in 2 times at the 60 EMA on 5 minute chart, 53.75 currently. Bounces not sticking, downside either, 53.75 needs held

14 Mar 2013 02:35 pm
Kind of trap between a resistance and a support, see which way this breaks but doubts bounce can stick

14 Mar 2013 02:40 pm
53.75 giving bounce but Standing aside until either a run-up stalls out or a drop reaches lower levels and turns up.

14 Mar 2013 03:05 pm
The bounce reached the 55 level and 54.75 should hold to keep the move up with going

14 Mar 2013 03:13 pm
Stairstep higher pattern will break if 54.75 not held and could drop another point or so before bouncing/failing

14 Mar 2013 03:24 pm
15.75 was touched and gave a 1-point bounce to 55.75, the 56 level was only traded above for about 20 seconds earlier, that needs taken out

14 Mar 2013 03:25 pm
To get a mini melt up into very late or around close. Should be hard to break/hold

14 Mar 2013 03:25 pm
Have a good rest of your day. Catch you tomorrow morning

14 Mar 2013 03:36 pm
54.75 held once again and 55.75 was touched once again. Nothing bad happens end a day unless that's taken out. Take care
 

Wednesday-March 13, 2013

(time stamps are EST)

13 Mar 2013 09:32 am
need to get above 48 and hold to get a rally. Staying under and breaking 45 probably not good

13 Mar 2013 09:40 am
48 sold, key resistance and should be top especially if 45 broken/held

13 Mar 2013 09:42 am
Bounce off of Globex low pre-open, should be pressure on under 45-45.50

13 Mar 2013 09:53 am
44.75 bounce high and then 42.25 held. 41.75 just missed, 3 lows there now so should be important. 45-45.50 needs cleared/held still

13 Mar 2013 10:02 am
45.50 the bounce high a break under 44 to turn back down possibly fast

13 Mar 2013 10:06 am
So far sold at 48 resistance and also 45-45.50 for shorts, stay with short side unless 45.50 broken or we reach lower levels

13 Mar 2013 10:14 am
42.75-42.25 double bottom for now but still need a move above 45.50 and stick or that can break, 4 lows there now

13 Mar 2013 10:26 am
55.75 reached and turned right back down, that might be a bounce high especially if 44 area not held

13 Mar 2013 10:32 am
45.50 was taken out by 1 tick but did not stay above, a break of 44 could be quick move lower

13 Mar 2013 10:38 am
44.00 was held in bid back up, unless that is broken this can keep punching higher towards 47.50-48 area

13 Mar 2013 10:42 am
Upside stalling should pullback, 45.50-45 needs to hold as support on a pullback from up here, no further

13 Mar 2013 10:51 am
Upside momentum slowing just under 48 at the moment. 45.75-45.25 area needs hold on a dip if going to avoid another top up here

13 Mar 2013 11:06 am
This is in a stair step up pattern back to 47-48 resistance and running out of steam, must stay over 46 or starts to unravel.

13 Mar 2013 11:14 am
Punched through 47.25 after holding under for about 20 minutes, 47.25-46.75 shouldn't be broken by much if going to continue through 48

13 Mar 2013 11:22 am
48 sold again but need to break 46.75 and not turn right back up soon and then 46-45.50 next

13 Mar 2013 11:32 am
With 46 holding a bounce could get back to 47.50 but should stay under 48 the way this is acting.

13 Mar 2013 11:44 am
Pop to 47 was sold twice, need a push under 46 where short covering/buying came in to avoid heading towards 44,

13 Mar 2013 11:54 am
NOTE: I will be away from around 12:10 PM until around 1:15 PM this afternoon. It's a sure thing today. Its a tough call up here, for now it

13 Mar 2013 11:56 am
Looks like 45.50 should be pivotal. They break/hold under that can break this down. It's a short on bounces still

13 Mar 2013 12:05 pm
46.25 area is bounce resistance, that needs to be cleared/held on a small pullback to attempt change of trend. Then 47.50-48 R

13 Mar 2013 12:09 pm
I will be back in a little over an hour. Not expecting a move to stick over 48 but if that happens then 51 should be tested. 45 pivotal S

13 Mar 2013 12:30 pm
Quick note, if 47.50 hold on pullback keep up trend and reach an attempt 49.50-50 area then pullback a bit

13 Mar 2013 12:37 pm
Last update for a while: 49.50 reached and must stay over 48-47.50 to keep up trend and not reverse. 51 and then 53 next if this continues

13 Mar 2013 01:08 pm
A pop up to 50.25 was rejected in pullback held 48 so far, if broken then back into trading range from earlier down to 47 at least

13 Mar 2013 01:19 pm
Bounce from 48 back to 49.50 so far. Need a push over 49.50 or 48 can be tested/broken

13 Mar 2013 01:29 pm
A pop up from 48.75 should be sold into, 49.50 still needs to be cleared with gusto, even then should be sold as soon as upside stalls.

13 Mar 2013 01:48 pm
Stalled at 51, 50-49.50 should be pivotal up here, 51 yesterdays high and the way this is acting 53 possible

13 Mar 2013 02:10 pm
49.50 tool to hold on pullback from 51, is broken then 48.75-48.25 is a key support this afternoon. Dynamics change is broken

13 Mar 2013 02:19 pm
Still decent buying just over 49.50, but if this cannot get going and get above 50.50-51 over the next 5 minutes long may hit exit

13 Mar 2013 02:23 pm
Something is going to need to happen to get the ES above 50.50-51.00 or this trading range, 49.75 now resistance and 48 needs held worst

13 Mar 2013 02:26 pm
48 news to hold, unexpected visit for sleep apnea mask back in a bit ASAP

13 Mar 2013 02:44 pm
48.50 should not be broken if this is going to even try to make another bounce attempt, better short on bounces from up here

13 Mar 2013 02:55 pm
Pullbacks off of the low or 2.75 and 2.25 points, and this pullback 2.50 points at 48.50. Its Also prior resistance, and 60 EMA

13 Mar 2013 02:56 pm
Must not break that 48 area or things have changed and end of day drop

13 Mar 2013 03:03 pm
48 giving a bounce but should have trouble around 49.50-50 again unless headed up to 51 or higher somehow

13 Mar 2013 03:09 pm
Broken down in a short under 49.50, 48-48.50 resistance, 45 area next support

13 Mar 2013 03:14 pm
48 was sold on a bounce from 47, 48-48.50 is bounce resistance if the ES is going to stay in downtrend under 49.50

13 Mar 2013 03:21 pm
Holding under 48 will keep pressure on for more late day pullback. If cleared/held than a chance to run up to 49.50 area but trouble holding

13 Mar 2013 03:27 pm
Bounce stopped at 48-48.50 so far.If 48.50 is cleared, then 48 would need to hold on a dip or its just a fake out and going lower

13 Mar 2013 03:28 pm
Have a good rest of your day, I will catch you tomorrow morning shortly after stocks have opened

13 Mar 2013 03:34 pm
Run up to the 49.50 area, a minor resistance. A pullback to 48.50-48 area should hold to in the day on a good note and not be fake out

Tuesday-March 12, 2013

(time stamps are EST)

12 Mar 2013 09:28 am
Good morning. I will be in and out today. And be away between 12:15 PM and 1:15 PM. Should be an important day

12 Mar 2013 09:29 am
Look to sell strength as soon as upside stalls out. a hold under 50 should put pressure down to 47.50. If 50 broken/held that 52-53

12 Mar 2013 09:37 am
Bounce off of initial support, but vulnerable still. Especially broken/held. Need to take out 49.50-50 and hold on a dip

12 Mar 2013 09:41 am
Needs to stay over 47.50 and run up through 49.50-50 area, and stick, on this move or things are changing

12 Mar 2013 09:43 am
Support holding and need to respect uptrend until upside stalls or rejected

12 Mar 2013 09:45 am
Just watch 50 four key area, if not cleared/held the market going to get into trouble instead of test 52-53

12 Mar 2013 09:46 am
Going to be hard to get above 50 and stay up there, another pop up will be sold into

12 Mar 2013 09:56 am
The NQ having a better bounce off of its low but the ES stopped at 49.25, needs to stay over 48-47.50 if going to make another push higher

12 Mar 2013 10:05 am
ES is following the Dow as the run up on the NQ has rolled over while the ES poked over 50. Buyers should be backing

12 Mar 2013 10:10 am
49.50 area should be pivotal, this can get to the 52-53 area as long as that is not broken the way it looks at the moment.

12 Mar 2013 10:16 am
Running out of steam after touching 51, needs to say over 50-49.50 if there is going to be another push higher to 52-53

12 Mar 2013 10:17 am
If broken than a high could be in

12 Mar 2013 10:28 am
ES broke 49.50 by 1 tick and reverse up and test 50.75-51 for the fourth time in 1 hour of regular trading hours, 52-53 key just above

12 Mar 2013 10:29 am
NQ made a 1-2-3 top pattern and should not get over 2004-05. It has been easier to read and trade this morning

12 Mar 2013 10:32 am
In order to begin breaking down, another drop to 49.75-49.25 is needed on this move

12 Mar 2013 10:39 am
Could be a bounce from 48.50 area, should be sold hard on a bounce that stalls especially NQ

12 Mar 2013 10:44 am
The ES just 2 points off of the high of the day, a little bounce that stalls out sets of another push down

12 Mar 2013 10:58 am
49.50 is a transition level and the ES stays bearish under that, a break/hold above needed to get back to test high, not likely

12 Mar 2013 11:03 am
46.50 support/target on this breakdown, could bounce there but now stays vulnerable under 48.50-49

12 Mar 2013 11:09 am
44-43 a key area just below, could be bounce attempt but not stick. Short-term top in place, a bounce should fail. 47.50-48 good resistance

12 Mar 2013 11:18 am
There should be another push lower to a token lower low at least before we get a snapback bounce. Either way bounce fails

12 Mar 2013 11:26 am
44-43.25 support, 40-39.50 can be reached if 43.25 transition area from yesterday is not held, 45.75 resistance

12 Mar 2013 11:33 am
Not a bad day yet, but this can continue if the 44.25-45.25 area is not convincingly broken through. 47-48 IF cleared

12 Mar 2013 11:48 am
The bounce stopped at 45.25 new resistance area and rolled over again. Double bottom possible but if not then 40 in the cards

12 Mar 2013 12:02 pm
The bounce took out 45.25 and then held at that level on a dip and made it to 47-48 resistance. Has to stay above 45.75-45.25 on pullback,

12 Mar 2013 12:10 pm
Pullback trying to hold new support turned back up. I'm going to be gone for about an hour. Market hanging in there at the moment

12 Mar 2013 12:10 pm
Push higher only IF 47.50-48 on the ES is exceeded and able to hold, and the NQ get above 2794 and hold, a chance to rally back towards 50.

12 Mar 2013 12:11 pm
Next update around 1:15 PM or thereabouts

12 Mar 2013 12:42 pm
Appointment cut short today, I will be able to update for a bit but then taking a 10 minute break. Right now this can break staying under 45.50

12 Mar 2013 12:46 pm
Well I misread that as it went through 45.25 easily but then failed. So should another bounce, not sticking. Would need to break 48

12 Mar 2013 12:59 pm
A bit of a squeeze coming from 45.25 last tiny pullback. 47-48 important zone to push above

12 Mar 2013 01:21 pm
This gyrating making a triangle type that pattern, the market should be waking up soon. 47 resistance, 44 support

12 Mar 2013 01:25 pm
46.25 is pretty close to 47 resistance, holding below that area on ES and 2795.50 on NQ keeps some pressure on for pullback

12 Mar 2013 01:36 pm
A pop up should stay at/under 46 if this is going to roll over again

12 Mar 2013 01:39 pm
The pop up stopped at 46.25 and came back down, headed lower as bounces cannot stick

12 Mar 2013 01:48 pm
That is bearish, has been holding 45 but go to 43 if broken and not turn right back up

12 Mar 2013 01:53 pm
The ES has been bumping up against the 60 EMA on 5 minute chart then coming back down, 4 times so far, a short under

12 Mar 2013 02:04 pm
43 Low tested, and if this goes to the 40-39 area, must reverse from there with some gusto to avoid mid 1530's

12 Mar 2013 02:05 pm
A move above 44.50 needed to take some pressure off and not though back down there

12 Mar 2013 02:19 pm
The 41.75 lo matched yesterdays to a session low and getting a bounce, 43.25-43.50 area needs to be cleared/held or 40 possible

12 Mar 2013 02:24 pm
43.50 broken but not held, leaves the door open for test of 40. Should be pivotal again

12 Mar 2013 02:42 pm
43.50 broken by 1 tick, pullback need to stay over 42.50 or could go for new low. A pushover 44.50 and not reverse like others to get bounce

12 Mar 2013 02:43 pm
Well that just happened, watch 43 for support on a dip, shouldn't really get there end up going to take up 44.50

12 Mar 2013 02:45 pm
Market currently bullish up to possibly 45.50 if 60 EMA touched again

12 Mar 2013 02:46 pm
43.75 needs to be support on a pullback to keep up trend

12 Mar 2013 02:53 pm
44 held on a dip and a test of 45.50 just missed so far, that should be resistance to stay in intraday downtrends

12 Mar 2013 02:58 pm
44-43.75 is a pivotal area end of the Day. 42.58 key area if broken. Should see those unless 45 broken

12 Mar 2013 03:06 pm
ES turned up from 43.50 and retest up 45, if cleared and get through 45.50 then could avoid late day trouble.

12 Mar 2013 03:15 pm
This can go for the 47-48 area before pulling back. If a late pullback, it would need to hold 43.75-43.50 at worst. 45 better

12 Mar 2013 03:25 pm
If there's going to be another pullback it should come from around 48 area, not much higher than that. 46-45.50 trend support

12 Mar 2013 03:32 pm
47.50 bounce high soul down to 46-45.50 zone easily, that should be important to stay above to keep from testing 44-43.50

12 Mar 2013 03:35 pm
Just a quick note, next week I will be making a few changes to the way the service is done. One plus will be adding my main screen

12 Mar 2013 03:37 pm
And some occasional audio updates. More later. Have a good rest of your day, catch you in the morning.

Monday-March 11, 2013

(time stamps are EST)

11 Mar 2013 09:26 am
Good morning. Overnight the 40.50-40 key area was tested and a bounce back to initial support area. To keep moving higher and have a chance

11 Mar 2013 09:29 am
To test the Friday high needs to be a move through 44.75 that can hold 44 area after that. If not then back down to 42 maybe 40

11 Mar 2013 09:30 am
Early strength likely sold into

11 Mar 2013 09:48 am
This bounce from 41.75 needs to take out 43.25-44 prior resistance/hold up there to turn up, and to try for 47-48

11 Mar 2013 09:55 am
43.50 area should be pivotal on a pullback, needs to bounce or next pop up should fail. a move over 45 needed to keep strong

11 Mar 2013 09:59 am
ES bounced from 43.50 and needs to get over 40 if strong upside to continue, NQ will need to get up trouble also

11 Mar 2013 10:03 am
On able to get up 45, 43.50 still is pivotal, 2791.50 on the NQ. Pullback doesn't hold then begins to turn back down again

11 Mar 2013 10:08 am
43.25 reached pressure on if broken/held. It is a short against the 45 area, market stays vulnerable unless 45 cleared and held

11 Mar 2013 10:17 am
44.50 sold on bounce, 45 still R. break/hold of 43 needed to put pressure on, early high in place if that occurs

11 Mar 2013 10:24 am
NQ just tested its low and popped up a bit, ES trying to hold 43. If these lows break DES can go back to 40, just 3 point range

11 Mar 2013 10:28 am
Saying under 43.50 should keep pressure on for now, the NQ downtrend resistance 2792 area

11 Mar 2013 10:45 am
43.50 broken above and held on the way to 44.50, 4 times that 44.50-44.75 tested and turned away. 43.50 area needs held

11 Mar 2013 10:49 am
5 tests of 44.50, a push above should go to 45-45.50 then pullback again

11 Mar 2013 10:51 am
Very slow and thin action, and while ES bounced the NQ went sideways, blue chips leading, NQ better short

11 Mar 2013 10:54 am
The ES vulnerable unless 44.50-45 cleared/held. NQ under 2792-2792.50

11 Mar 2013 10:57 am
This will be a short on bounce as long as 45 area cleared on the ES and 2792 on the NQ. 43 could give bounce but not stick

11 Mar 2013 11:07 am
As long as 43.50-43.00 holds and 44.50-45 not rejected again, opens door for test of 47-48 big resistance, but not likely stick.

11 Mar 2013 11:21 am
They are struggling and need to bounce from 45-44.50 to keep on pushing higher and not top out

11 Mar 2013 11:23 am
Would need to get over 45 and hold, bearish pattern and another bounce a gets sold into, if a lower high then break again could be sharp

11 Mar 2013 11:34 am
A lower high so far at 45.50, will need to break 44.50 and not turn right back up again. Otherwise a chance of 47-48 still. ES following Dow

11 Mar 2013 11:37 am
Upside is out of steam staying under 46, if not pushed above in the next 5 minutes or so then chances growing for break down

11 Mar 2013 11:52 am
Pushed through 46 up to 46.50 so far, but holding 45.75-45.50 area keeps this grinding higher, 47-48 should be pushed into if that S holds

11 Mar 2013 12:07 pm
45.75 was held above and we have the push into 47-48, and this can continue unless 46.50 broken and that turned right back up

11 Mar 2013 12:12 pm
48 sold but this still trend up, 47-46.50 area is pullback support, that holds or reversal possible 45

11 Mar 2013 12:15 pm
A pop up to 48.50-49 that gets turned down would set up a scalp on the short side, but only back towards 47.50-47, key on pullback

11 Mar 2013 12:23 pm
47, 46.50 at worst, needs to hold to keep upside going and avoid reversal. This begins to break down if 47 broken/held.

11 Mar 2013 12:25 pm
47.50-47.75 would be resistance if they break under 47 by much, and top up here for a bit. 15-20 minute lunch break

11 Mar 2013 12:47 pm
Quick note, 46.50 able to hold, this pop up should be sold into however, watch 47.75-48.25. Consider 46.50 as key uptrend support,

11 Mar 2013 01:00 pm
Token higher high should be sold in pullback will need to stay above 47.50

11 Mar 2013 01:03 pm
Higher high not sold aggressively, 48-47.50 good support on pullback, or things could change for a bit

11 Mar 2013 01:14 pm
48.25 held on a dip in 49.50 reached so far. The grind higher continues as long as 48.50 holds. Much more than that things change up here

11 Mar 2013 01:18 pm
Expect the next pop-up to be sold into, grind higher can be disrupted if 48.50, especially 48, not held

11 Mar 2013 01:27 pm
Still in a good uptrend since taking out 44.75 multiple highs before noon. But the way it is going, a break under 48.50-48 changes dynamics

11 Mar 2013 01:30 pm
Trend and momentum to the upside not to be fought. Would need to see change of trend. 52-53 next resistance not far off, though 50 should

11 Mar 2013 01:30 pm
Be a psychological barrier to toy with for a bit before getting there

11 Mar 2013 01:40 pm
Just a mess 50 on pop-up, it will take a pullback of more than just a gentle 1.50 point dip. If pullback goes further things would change

11 Mar 2013 01:44 pm
First test of 50 market doesn't like, 48.50 key on pullback. A bounce that follows likely will be sold into. A push above 50 needed to get

11 Mar 2013 01:45 pm
Squeeze up to the 52-53 area, may not see that today have 48.50 broken and no rebound from there

11 Mar 2013 01:51 pm
The VIX is at a new multiyear low down almost 7%. A lower low and reversal up on that tomorrow would give numerous sell signals, we will see

11 Mar 2013 02:01 pm
48.50 is holding but A push above 49 that can hold needed to make another move higher though

11 Mar 2013 02:16 pm
In very slow and then trading 58.50 able to hold and test the 50 was sold. If 49.25 not broken by much 52-53 not impossible. 50 important tho

11 Mar 2013 02:22 pm
I think that 50 level is going to be hard to get through/hold this afternoon. 48.50-48 is key support on pullback, must hold

11 Mar 2013 02:27 pm
If they do get over 50, and stay up there, this could still go for 52-53. A pullback that is gentle like others probably buying opportunity

11 Mar 2013 02:28 pm
Unless it is coming down from reaching 52-53 area. 50 is the key area to get above on top, 48.50 bottom of a range

11 Mar 2013 02:31 pm
Another pop up should be sold even if it does come from 48.50, NQ especially

11 Mar 2013 02:41 pm
49.25 reached on bounce. 48 is transition area from around noon/pullbacks held 48.50-48. 46.50 IF broken/not turn right back up

11 Mar 2013 02:50 pm
If the 50-49.50 area is not broken by much there will still be a chance for another push higher to the 52-53 area and sold there

11 Mar 2013 03:05 pm
If there is going to be one more run would need to get back above 50 and not turn right back down. It has been trend up, late day pullback

11 Mar 2013 03:09 pm
Possible if this stays under 50 and 49 broken, or especially 48 key area, is broken and the market cannot get turned back up

11 Mar 2013 03:10 pm
If they do pop up again, would need to get momentum because 52-53 resistance really stretches price on the upside

11 Mar 2013 03:23 pm
So far 48.50-48 is able to hold, and no late day pullback unless broken. However, a move to a token higher high should be sold

11 Mar 2013 03:24 pm
Have a good rest of your day. I will catch you tomorrow shortly after the open. There may be some changes this week also. Take care

Friday-March 08, 2013

(time stamps are EST)

08 Mar 2013 09:30 am
Another double top breakout to the upside, which is getting parabolic and scary. The key today is going back under 41-40, key support

08 Mar 2013 09:35 am
Top is therefore now they bounce will be sold if there is one

08 Mar 2013 09:39 am
Should stay under 45 to keep pressure on to test 43

08 Mar 2013 09:42 am
43 reached 44.50-45 area is bounced resistance, 41.75 a small support before the 40 area

08 Mar 2013 09:47 am
The S&P 500 cash reached 1551.65, testing the secondary high late October 2007. Is perfect spot for a top.

08 Mar 2013 09:50 am
The "pop and flop" on the employment numbers bearish also. A bounce from 40 should stay under 42-43

08 Mar 2013 09:56 am
42 sold, a good second entry on a short, if 40 broken 38.50 key area. 44.50 should 42 the taken out on strong bounce but don't count on that

08 Mar 2013 10:00 am
Best chance for buyers to run this up by making token lower low and turning up. But no gusto, 41 needs cleared/held to take a little pressure off

08 Mar 2013 10:06 am
38.50 giving bounce but needs to take out 41/hold

08 Mar 2013 10:07 am
If they push under 37.50 and don't snap right back up, then could turn ugly break 35.75 low from yesterday

08 Mar 2013 10:13 am
Holding under 40.50 keeps keeps go to Hannah type up my best host pressure on

08 Mar 2013 10:15 am
I don't know what happened with that post. Anyway the breakout area was 1540 and unless able to get back above 40/hold market stays bearish

08 Mar 2013 10:28 am
Small double bottom at 37.00-37.25 gave a pop up to just under 40-40.50, needs pushed over/held

08 Mar 2013 10:32 am
39.50 will be key area to bounce from or small uptrend broken and back to 37 or lower

08 Mar 2013 10:35 am
The remainder of today I will point out the important areas and not send a note every time new micro dynamic s/r changes. 39.50 key

08 Mar 2013 10:41 am
This move should fail around 43 or a bit lower for a small pullback at least

08 Mar 2013 10:44 am
NOTE: I will be away for about an hour this afternoon from around 12:15 PM until 1:15 PM. Will update ASAP when I return. Must hold 40 now

08 Mar 2013 11:01 am
Buyers backing off and selling into pop-ups, covering/buying 39.50 area. This gyrating around 40 pivotal, 41.50 needs cleared 39.50 must hold

08 Mar 2013 11:09 am
Buying came in at 39.50 again and pop up to 41.50 so far, no damage unless 39.50 broken for now, though should have 43 R if 41.50 held

08 Mar 2013 11:18 am
43 just missed in slow action, 41.50 area needs to hold or can go back down towards 39.50 again

08 Mar 2013 11:23 am
If 43 not cleared then the market vulnerable for decent pullback, 41 a transition level and bounce will be sold if broken

08 Mar 2013 11:33 am
Pokes up to 42.75 or sold 3x, that is key area to get through if the market is going to continue its move higher. 41 key if a break lower

08 Mar 2013 11:46 am
This has had difficulty at 43 for about 30 minutes and should make a move pretty soon, 41.50 needs held or can break channel line

08 Mar 2013 11:57 am
a slow grind higher Poke over 43 but not stick, but another push higher possible if 42.50-42.25 area not broken, under 41.50 is breakdown

08 Mar 2013 12:12 pm
A tepid, slow, and very thin bounce off of double bottom at 39.50 new support, the type of move to brake hard

08 Mar 2013 12:14 pm
41.50 minor support, 42.75-43.25 ideal area to sell but may not get their

08 Mar 2013 12:22 pm
42.75 was missed by 1 tick, could bounce from 41 but should not go past 43 area and be able to hold up there, if 41 broken 39.50 again

08 Mar 2013 12:26 pm
I don't have that 1 hour away this afternoon, but will be taking a 15-20 minute break. Just know a bounce should not take out 44, a short under

08 Mar 2013 12:29 pm
A drop down to 39.50 would need to be turned right back up again. That area around 40.50-39.50 is a very key area especially on close

08 Mar 2013 12:37 pm
I really think we have major top that coincided with 1552 on the S&P 500 cash this morning, if todays low is broken they drop another 10 pts

08 Mar 2013 12:40 pm
wedge pattern was broken, rebound missed break level by 1 tick and press lower since to key support 40-39.50, must hold or 37

08 Mar 2013 12:44 pm
41.50 should be decent resistance, or could go back up to 42.50-43 and then turn back down. 41.50 was just sold a retest key

08 Mar 2013 01:04 pm
If there is going to be another push lower it should come from 42.50 or lower. If thats cleared instead then a move towards 43.50 possible

08 Mar 2013 01:25 pm
42 now support that needs to hold and and 43.50 needs pushed through. If that happens and holds 45 possible. Breaking 42 starts more drop

08 Mar 2013 01:38 pm
Pullback held at 42 and turned up and now its best chance to get through 43.50 up to 45 if still in good shape

08 Mar 2013 01:42 pm
No follow through has the pop up was sold into and now 42.58 key support or bounce high in place

08 Mar 2013 01:47 pm
42.50 held so far so one more chance to push higher, and that will be sold into, 42.50 and especially 42 needs to hold

08 Mar 2013 01:53 pm
The ES had a 9.75 point moved from the open until 45 minutes into trading. Since then inside a range that is inside of the earlier range, 44

08 Mar 2013 01:55 pm
Must be cleared/held to avoid double top at the high end of this current range, could point to move to 45.50 IF a move through 44, w/ gusto

08 Mar 2013 02:02 pm
The ES is going to avoid bearish chart pattern unless there is a drop to take out 40-39.50 area.Early afternoon low and breakout area. If 44

08 Mar 2013 02:05 pm
It is not pushed above pretty soon there can be a late day pullback to that area. IF that is pushed through/held 45.50 could be seen

08 Mar 2013 02:19 pm
Another feeble bounce should not be able to get above 44 and stay up there, but a hard time breaking 42 also. Better short than long but

08 Mar 2013 02:20 pm
May wait until late day or Monday to show its hand. But certainly has the ingredients for an important top

08 Mar 2013 02:30 pm
Bounce right back up from 42.50, holding the 42 key area. As long as buyers keep coming in on these dips, defend 42, trouble avoided for now

08 Mar 2013 02:41 pm
Up at this area the move into new swing high high territory is sold into, then pullback shorts cover. a pop above 44.25 should be sold

08 Mar 2013 02:49 pm
The ES made a push over 44.25 by just 1 tick and instantly sold, probably a high

08 Mar 2013 02:57 pm
42.50 should be key support in the last hour, a break/hold of that should mean a test of 40-39.50. If a bounce, should not hold 44.50

08 Mar 2013 03:03 pm
This may stick better than other failed pop-ups as long as 43.75-43.50 is not broken through on pullback

08 Mar 2013 03:06 pm
45-45.50 resistance given earlier was sold, 43.75-43.50 area pullback support that needs held at lowest to keep good uptrend

08 Mar 2013 03:12 pm
Pullback held just over 43.75,another push up to 45-45.50 possible but should have a hard time staying over that. 47 if I'm wrong about that

08 Mar 2013 03:26 pm
This now needs to hold 45 to make it to 47, if 45 broken the 44-43.75 area key end of the day to keep the uptrend going. 42.50 if broken

08 Mar 2013 03:27 pm
Have a nice weekend. Will be ready to go on Monday shortly after the open

Thursday-March 07, 2013

(time stamps are EST)

07 Mar 2013 09:20 am
They are having a tough time with 44-44.50, double tops or trouble with a resistance all the way up, that COULD be another but treating

07 Mar 2013 09:23 am
That as a top, if broken then may need to shift the gears again for a potential test of 1552 on the cash index

07 Mar 2013 09:26 am
A break back under 41 that doesn't turn right back up is needed to put some pressure on

07 Mar 2013 09:34 am
Well probably make token higher high at least, 42 needs broken to dent downside momentum

07 Mar 2013 09:36 am
43.50-43 needs to hold or bounce after that likely sold into

07 Mar 2013 09:37 am
Just a scalp from resistance, 43 days broken it should be decent support

07 Mar 2013 09:39 am
That might be it, if not then they bounce again it should be sold into the unit if a token higher high

07 Mar 2013 09:42 am
42 needs held still or odds better that a high in place. Breaking and holding 41 key

07 Mar 2013 09:45 am
43-43.50 some resistance that should be sold if going to break down under 41 which could start breakdown

07 Mar 2013 09:52 am
Resistance sold into, you should be shorting as a rejected 44.50 resistance and 43.50 bounce resistance, key area. 40.50 support

07 Mar 2013 09:56 am
Well 41 is the breakdown area and a good bounce from there back to resistance. Both 43.50 and 41.00 key this morning

07 Mar 2013 10:02 am
43.50 was pushed above but didn't stick so still selling into strength but need brake/hold of 41 to turn things

07 Mar 2013 10:04 am
Another run-up from here will be sold into, and if cannot get over 43 and hold then 41 likely to break

07 Mar 2013 10:16 am
A move up to 44-44.50 should be sold into, 42.50 needs to hold it going to have a chance on this move

07 Mar 2013 10:22 am
43.75 rejected again, needs get over that and not turn right back down or a high being made

07 Mar 2013 10:27 am
The NQ has come down to test pre- open low while ES held with the Dow cash. NQ could break down if 2790 broken 1542 on the ES

07 Mar 2013 10:36 am
No breakdown, 42 on the ES and 2791 on the NQ are both breakdown/support areas that should not be broken. 42.75 pivotal S up here

07 Mar 2013 10:39 am
Stuck in this range unless they break out over 44.50 or under 42.00. Tiny area, but can get market going staying under 44.50

07 Mar 2013 10:54 am
44-44.50 continues to be sold, now just need a push under 42 and not pop right back up. It should or could break small wedge/channel

07 Mar 2013 11:02 am
42 was touched and now can bounce but probably not take out the high

07 Mar 2013 11:10 am
A pullback should hold 43.50 at the lowest if this doesn't plow through 44.50 area

07 Mar 2013 11:15 am
44.75 High again and then Pullback to 43.50 new support trying to hold, another push higher sold into, 42 very important now under 43.50

07 Mar 2013 11:18 am
Next update in about 10-15 minutes.

07 Mar 2013 11:43 am
Still in trading range, 44.50 still being sold. 43 is pivotal in this choppy uptrend. If broken then another bounce to 44.75 less likely

07 Mar 2013 11:51 am
Tiny range 3.75 point range with 4 failures at 44.50-44.75 so far, but refuses to break 43 and that would open the door to drop to 41 or lower

07 Mar 2013 11:53 am
Another dip should be bought above 43, just as soon as it turns buyers will jump in

07 Mar 2013 11:58 am
Reversal bar with good selling obvious above and a short on a retest if there is another pop-up,

07 Mar 2013 12:19 pm
43 support reached and basing and a pop up can come, just started 44.50 area resistance for lower low

07 Mar 2013 12:20 pm
That supposed to say for a lower high, should be sold into if reached given rejection off of 45.50 high

07 Mar 2013 12:33 pm
Still tiny ranges so I hate giving out micro support/resistance to buy or sell against but 44.75 resistance again and should be sold but

07 Mar 2013 12:33 pm
Uptrend not broken unless 44 tiny support broken and then more important 43 broken

07 Mar 2013 12:43 pm
43 held so far but likely broken after this bounce attempt fails to take out 44.75. A short still on pops

07 Mar 2013 01:03 pm
44.75 sold AGAIN, just one spike above that was rejected (very quick move back down after touching 45.50). HOWEVER,all pullbacks holding also

07 Mar 2013 01:07 pm
Back down to 43.50-43 area and another possible bounce, that is key support zone now

07 Mar 2013 01:19 pm
the ES was sold again at 44.75, the NQ having trouble just under 2802, sideways action can go back to bottom of channel

07 Mar 2013 01:22 pm
Pullback support should be at 43.75, 43 is channel support, market gets hit with some selling if that isn't held

07 Mar 2013 01:31 pm
The NQ could lead this lower as it has been weaker off of its high and meet transition breaking 2798.50, ES should break 43 if breakdown

07 Mar 2013 01:34 pm
This 43 area needs to hold and pushed them back up to 44.50 area again or this can begin to break down

07 Mar 2013 01:37 pm
This has broken down even though a small range so far, a bounce should stop around 43.50 to continue lower

07 Mar 2013 01:45 pm
More pressure on the ES then the NQ at the moment as it jumped up while ES staying under 43. They should realign the ES week

07 Mar 2013 01:54 pm
Held at just above 42 for about 10 minutes, Unless the ES gets back above 43.25-43.50 area with gusto still can go lower, that looks pivotal

07 Mar 2013 02:00 pm
If this is going to make a move that should happen at 2 PM, if not then then the 2:20 PM-2:40 PM timeframe. 43.50 pivotal, must be cleared

07 Mar 2013 02:05 pm
Jobs number in the morning but this action not looking good if a break below 42.50-42.25 and not turn right up, 41 a key area on daily chart

07 Mar 2013 02:11 pm
Bounce to 43.50 was sold in 2 o'clock selling started, should not be over, a bounce should fail at/ under 42.50

07 Mar 2013 02:23 pm
Bounce stopped at 42 so far and shouldn't go much further, if going to drop back under 41, did not stay under that very long

07 Mar 2013 02:27 pm
If 42 is broken, could try for the 43.50 level which has been pivotal. FYI, tomorrow we roll over to June contracts, ES M3

07 Mar 2013 02:30 pm
For a scalp look to sell 43.50-44 area if reached and moved stalls, or could buy a dip to 42 that stalls/turns up but not as good odds

07 Mar 2013 02:31 pm
I will update in about 10-15 minutes. A small range scalpers market, could change late but doesn't look that way

07 Mar 2013 02:41 pm
The ES missed 43.50-44 zone by 1 tick and pullback to 42.00 gave just a 1.00 point bounce before turning back down. 43 now resistance

07 Mar 2013 02:54 pm
43 new resistance has reached but to break down from here the 41.50 level will need to be broken and put pressure on

07 Mar 2013 03:05 pm
This is a stair step higher move and needs to stay above 1543 to continue, especially 41.50 if 43 does not hold. 44.75 next R

07 Mar 2013 03:12 pm
44.75 was sold 4 times before 1:30 PM breakdown and should be hard to break/hold.45.50 high would be next,47.50-48 IF somehow breakout holds

07 Mar 2013 03:14 pm
Trend up action with no damage done unless 43.75 broken

07 Mar 2013 03:16 pm
If 45.50 is touched and rejected, 45 was just turned away, but if 33.75 broken

07 Mar 2013 03:17 pm
If that is broken and not quickly turned up, trends could roll over end of day towards 42.50 or lower

07 Mar 2013 03:21 pm
43.75 not broken yet, they move up to 44.50-45.50 and don't stick a short for late pullback

07 Mar 2013 03:27 pm
If there is another move up from 43 expected to be sold into, would need to break/hold above 45 area to end on a strong note

07 Mar 2013 03:31 pm
Fifth there is a breakout that sticks above 44.50-45 resistance finally, a chance of 47.50-48. 43 last hour low so far must hold.

07 Mar 2013 03:33 pm
Have a good afternoon. I will catch you tomorrow near the open


 

Wednesday-March 06, 2013

(time stamps are EST)

06 Mar 2013 09:24 am
Good morning. I know we have a full day of trading still ahead, but another gap up open after yesterdays action is amazing. This euphoria

06 Mar 2013 09:28 am
Likely will not end well. I'm going to get a number of sell signals if this holds up and market internals strongly positive today. I will

06 Mar 2013 09:30 am
Avoid longs unless a decent pullback. First pullback should be relatively small, about 3 ES points to continue strong from up here

06 Mar 2013 09:31 am
42.75 should be seen as the least on pullback from up here

06 Mar 2013 09:35 am
42.75 gave a bounce but need a move over 43.75-44 and hold up there are going to lower

06 Mar 2013 09:39 am
Bounce back to 43.50 stalled out and should see 41 area before bounce attempt that there's going to be one

06 Mar 2013 09:43 am
41 area would be 3 point pullback off of 44 high and last our bounce high yesterday, must hold there and turn up or still in sell mode

06 Mar 2013 09:46 am
42.50 area is now bounce resistance off of 40.75 current low that must be broken/held or still vulnerable

06 Mar 2013 09:52 am
3.25 point pullback off of 44.00 early high has been "normal" on the way up, when that dynamic changes that will be a red flag. 42 S now

06 Mar 2013 09:58 am
43.50 should be pivotal, a break of that level would need to bounce back quickly or could be topping

06 Mar 2013 10:03 am
42.50 should be pivotal area, a break of that should mean bounced that follows gets sold into. 44 resistance,

06 Mar 2013 10:09 am
42.50 broken but 3.25 point pullback again, Sell bounces, 44 is a key resistance to clear/hold and 41 to break/hold to get direction

06 Mar 2013 10:11 am
Trading range until broken. Next update in about 10 minutes or so

06 Mar 2013 10:21 am
Market is a short on a bounce, 43-44 area will need to be cleared and held, not tagged and have lower. Should not really get there

06 Mar 2013 10:24 am
If a bounce up to 42.50-43 area and then stall out there, it should bring in selling again

06 Mar 2013 10:33 am
Bounce to 42.50-43 sold into, 38.50 area next, 42 good resistance should not be broken

06 Mar 2013 10:36 am
I'm not going to give all of the minor areas today as I see I am giving out a LOT of updates. Right now 41-41.75 bounce resistance

06 Mar 2013 10:49 am
Pullback from 41.25 held at 40.00, bounce just poke over 41.75 to 42.00. Pullback needs to bounce from 40.50 at lowest to avoid another push lower towards 38.50

06 Mar 2013 10:57 am
All bounces being sold today, but stay with selling on the pop-ups. Could bounce from lower levels, currently bearish under 42.50-43

06 Mar 2013 11:06 am
Only a feeble bounce from just above 38.50, if that is taken out then the 1536.50-1535.75 zone would be next

06 Mar 2013 11:13 am
38.50 holding giving the market a rest, 40.50 minor resistance needs a push above to take some pressure off, but not stick

06 Mar 2013 11:13 am
This would have a chance to be gap day = trend day as long as a bounce is < 3 pts. No burst of buyers on gentle pullbacks today so far

06 Mar 2013 11:20 am
This shouldn't get past 41.50-42 before pulling back, 39.75 area support on a dip and shouldn't be broken if going to test that zone

06 Mar 2013 11:28 am
A 2.25 point bounce from 1 tick above 38.50 target/support to 41. Need a bounce from 39.75 if going to avoid 38.50 or lower

06 Mar 2013 11:34 am
Good defense of 39-38.50 area, so far. It should be key support if retested, need a move above 41 and hold to regain uptrend-not fake out

06 Mar 2013 11:38 am
38.75-39.00 has been holding since around 10:30 AM and especially since around 11 AM. The last buy up from 39 easily sold into, 41.25 could be seen

06 Mar 2013 11:42 am
Before another decent pullback. 40.75-41.25 needs pushed above/held to take selling pressure off on bounce for a bit

06 Mar 2013 11:49 am
39.25-38.75 has been solid support on the dips, can be tested again if no push over 41 soon

06 Mar 2013 11:52 am
NOTE: I will be away today from around 12:15 PM until around 1:15 PM and will update as soon as I return. Be short into some strength, 41R

06 Mar 2013 12:00 pm
If this breaks down then the 37.50-36.50 should be tested, and then 39-39.50 would turn into resistance on a bounce -vulnerable under 40

06 Mar 2013 12:08 pm
Breakdown to 37.75 was sold at 38.75, just under 39 new resistance, 36.50 area would be next and that is key, especially if closed under

06 Mar 2013 12:09 pm
That should be a target on shorts, beige book this afternoon at 2 PM.

06 Mar 2013 12:47 pm
Quick note, in uptrend off the low with resistance at 41 that needs cleared/held to get out of trading range. 30 9K key support

06 Mar 2013 01:23 pm
41 was turned away on the last test and dropped to 38, 39 has been a bit of a transition area and needs held on pullback or 38-37.50 again

06 Mar 2013 01:30 pm
39.50 held and they turn back up, the bounce will be sold into even if 41 taken out

06 Mar 2013 01:37 pm
Things have really slowed down so need a bounce from 39.50 soon or will be headed back to 38

06 Mar 2013 01:39 pm
Bounces just started, if a move above 41, would need to stick/accelerate or will come back down to test 40

06 Mar 2013 01:44 pm
41 has been the highest since 11:20 AM and tested four other times before now, pullback needs to hold 40.50-40.25 to keep uptrend 42.50

06 Mar 2013 01:48 pm
Pop through 41 sold, and now 40.50 is the support that needs held to not come back below 40

06 Mar 2013 01:53 pm
To stay in a good uptrend this has to turn up from 40.50, not too much lower, and do that with gusto or just a bounce high

06 Mar 2013 01:58 pm
40 was reached, a bit further than it should have. We get the beige book at 2 PM. If a pop-up, 42.50 needs exceeded/held or back down

06 Mar 2013 02:02 pm
This is kind of a channel/wedge pattern, a move under 40 needed to break a bottom, 41 has not been held above very long

06 Mar 2013 02:10 pm
Unable to stay over 41.25 for very long. Thats bearish. They moved back below 40 starts the downside, if broken a bounce that follows will

06 Mar 2013 02:11 pm
Be sold into back around 40.50-41

06 Mar 2013 02:17 pm
Could be a bounce from the 39.50 prior low area but not stick above 40.50 if still week

06 Mar 2013 02:26 pm
This is where selling would come in if a weak market, but since noon the pullbacks have been bought. 40.50 should hold to push higher

06 Mar 2013 02:29 pm
On top, ES needs to push through the highs made at 41.50, sustained trading above 40.75 needed to keep from another reversal

06 Mar 2013 02:34 pm
Should hold 41-40.50 at lowest on a pullback, 42.50-43.25 resistance on this move, key area

06 Mar 2013 02:39 pm
42.50-43.25 zone giving a small reaction, 41.50 area should hold on a dip from up here.

06 Mar 2013 02:45 pm
Pullback from 43.25 new resistance trying to stay above 41.50, if that does not hold then 40.50 could be seen again. 44.50 If 43.25 cleared

06 Mar 2013 02:48 pm
41.75 pullback low, this could see 44.50 if this push higher continues, and then see some pullback

06 Mar 2013 02:52 pm
41.50 prior high area was held on pullback after coming down from 43.25 R, transition area that needs held to stay bullish. 44.25 bounce high

06 Mar 2013 02:55 pm
If they get back to 44.00-44.50 area, stall out and reverse down through 41.50, trading top could be in. Strong internals is the

06 Mar 2013 02:57 pm
Missing ingredient needed to give sell signals. Should see some pullback from re-test of 44.50, if rejection could start something

06 Mar 2013 03:03 pm
Should be it for a rally attempt if 41.50 area not held. 44-44.50 could be a top if that is taken out, especially on a close

06 Mar 2013 03:14 pm
Staying under 43 keep pressure on for pullback to take out 41.50, down to 39 if that's broken/held under 42 area

06 Mar 2013 03:22 pm
41.50 broken through, a bounce late in the day will be sold into. If another pop up occurs, short as soon as upside stalls

06 Mar 2013 03:25 pm
Especially if there is a pop up to around 42.75 area that is rejected, or just pops up and then goes sideways for several minutes

06 Mar 2013 03:30 pm
40.50 just a small support from earlier, 39.50-39.25 more important and should be tested if this is going out on a weak note

06 Mar 2013 03:32 pm
I would avoid longs, potential for this to get hit a bit harder end of the day

06 Mar 2013 03:34 pm
Have a good rest of your day, I will catch you tomorrow shortly after the open.

Tuesday-March 05, 2013

(time stamps are EST)

05 Mar 2013 09:20 am
This market is getting to you that "incredible" camp, almost on par with 1987, 2000, 2007 and I have been through them all.

05 Mar 2013 09:22 am
Also am hearing those famous words "its different this time". There never exactly the same, but trading top should be near. Right now the

05 Mar 2013 09:26 am
ES is trading 9 points above fair value, the SPX needs get to 1535 to be in line. Thats just 17 pts from all-time intraday high

05 Mar 2013 09:30 am
The Dow cash will be making record high this morning. 1530 on ES needs held

05 Mar 2013 09:34 am
That can be top if 32 broken and not turn right back up, that is first support up here

05 Mar 2013 09:39 am
34-34.50 broken through, 34 area needs to hold as support on pullback or this could get a bit toppy.

05 Mar 2013 09:50 am
Some Econ data out soon. Another pop up should be sold into, 37.75-38.50 if a new high. 32-31.50 area key support, no reversal unless broken

05 Mar 2013 09:57 am
Should see some pullback from 36.50, 34.50-34.00 prior resistance should be pivotal as support. That will need broken/held to break down

05 Mar 2013 10:04 am
Pullback held just above 34.50 and reached 37.75-38.50 resistance, was rejected but pullback should hold around 35 area or breaking down

05 Mar 2013 10:09 am
10 AM high at resistance was rejected, should be early high at least, but would need to break 35 and not turn up with gusto for some proof

05 Mar 2013 10:19 am
The pullback went just 1 tick under 35 support and turned up to test the high. 34.50 prior resistance acting as support

05 Mar 2013 10:23 am
Back to resistance but no proof of any kind of top unless 36.50 broken and not turn right back up, and then 34.50 would be broken next

05 Mar 2013 10:29 am
35.75 should hold on gentle pullback to keep uptrend grind going. Gap day could be trend day if dips just 2-3 ES points

05 Mar 2013 10:39 am
38 new support to hold to continue grinding higher. But expect some pullback if 40 is retested

05 Mar 2013 10:47 am
A pop-up to 40.50 was sold into, but pullback held just over 39, and 39-38.50 is the trend up support/transition zone, needs held

05 Mar 2013 10:54 am
If there is going to be a pullback of about 3 points that should start from the 41.25 high so far which would mean holding around 38

05 Mar 2013 10:59 am
Tiny retests of 41.25 high was sold at 41.00, should go back to 39-38

05 Mar 2013 11:08 am
So far a 3 point pullback to the 38.50-37.75 prior resistance, a high in place if not held, 40.50 minor resistance

05 Mar 2013 11:15 am
For now, as long as 38.50-38 is held, this can continue in a trend up mode. Watch 42 for a pullback from up here, 40.50 minor support

05 Mar 2013 11:23 am
A bounce off of 40 stopped at 41, if that isn't clear/held then down towards 38.50-38 again, another bounce from 40 gets sold into 42-ish

05 Mar 2013 11:32 am
41 has been rejected on the last 2 times attempts, if that is reached and reversed and we get another pullback, maybe test 38.50-38

05 Mar 2013 11:37 am
There should be pressure on the low 40-40.50 area, 38 must hold or dynamic change

05 Mar 2013 11:42 am
Another 3.00 point pullback. We had 3.25 points, 3.00 points, and 3.00 point pullback. Makes 38.50-38 a bit more important. If 40 not

05 Mar 2013 11:44 am
Pushed above and held than 38.50-38 could be broken. 41 next is a bit more follow-through, then pulled that

05 Mar 2013 11:56 am
The NQ is helping the ES on this move, the Dow cash flattening out and ES stopped at 41. 40 needs to hold, and 2800 1st minor S on NQ

05 Mar 2013 12:00 pm
NOTE: I will be away today from around 12:15 PM until around 1:15 PM. I will update ASAP when available again, or if something changes

05 Mar 2013 12:04 pm
As for a trade, so for a gap day acting as trend day as long as pullback is not > 3 points. If 38.50 not held dynamics change. Will break

05 Mar 2013 12:06 pm
Unless a push over 41 on ES and 2803.50 on the NQ, then hold on a dip. Market stays strong buying frenzy if that happens

05 Mar 2013 12:15 pm
About 30 minutes going sideways under 41 should mean breakdown back towards 38.50 area, that's key

05 Mar 2013 12:17 pm
Bounces should be sold into from here on out, though couldn't get buying at deeper levels, a 7 point pullback from 41.75 possible

05 Mar 2013 12:50 pm
The ES made it down to the 38.75 support area and bounced twice, but NQ in different shape. Another pop-up from here possible, and sold into

05 Mar 2013 01:00 pm
After breaking out above double at 1524.50 yesterday another break/hold of 1538.50 resistance turned support. Must hold, 2796 on NQ

05 Mar 2013 01:04 pm
The internals are going to be close to sell territory. The S&P 500 cash came within 10 points of its all time high, should not be seen

05 Mar 2013 01:08 pm
If Another pop up, it's a short using a tight stop, should not get back above 40.50-41 and break of 38.50 could cause good break

05 Mar 2013 01:22 pm
38.75 bottom of this range was held in held again and almost to the high, likely will push through and tried for 44. 14.50 small support

05 Mar 2013 01:23 pm
40.50, sorry for the typo

05 Mar 2013 01:26 pm
New high should be sold into as long as Take profit, then pullback they reinstate long. 38.50 must hold to keep this same action

05 Mar 2013 01:37 pm
The 40.50 minor support was held in another new high made at 42.75. 41.50 should be pullback support, or 40.50 again

05 Mar 2013 01:43 pm
40.50-39.75 should be very important on pullback from up here, that is prior support/low and 3 points off the high

05 Mar 2013 01:47 pm
So far 40.75 the pullback low and a bounce off of that is going to be sold into, 42-42.50 would be ideal but may not get there, high may be in

05 Mar 2013 01:54 pm
tested its high and ruled over, the NQ same but tested lower high. A top was snuck in. If not, a bounce gets sold 40 now resistance

05 Mar 2013 01:57 pm
If the 38.75-38.25 area is broken and cannot turn right back up then down side to get some momentum,

05 Mar 2013 02:03 pm
A bounce off of the bottom of sideways range from around 11 AM, not much gusto and breaking down could be kind of sharp

05 Mar 2013 02:23 pm
Pullback held at 38.75, but not much of a bounce. Also watch in 14,261 on Dow cash.Both key S Need to push over 40.50 to get bounce attempt

05 Mar 2013 02:29 pm
The failure just under 40.50 should be at an important high for now, pressure stays on unless cleared/held on a dip. 36.50 next support

05 Mar 2013 02:32 pm
38.75-39.50 is bounce resistance. A drop to 36-35.50 possible especially staying under 38.50

05 Mar 2013 02:42 pm
A bounce to 38.75-39.50 coming from 37.25 where 60 EMA on 5 minute chart is currently. Still 39.50 needs cleared to take some pressure off

05 Mar 2013 02:50 pm
A better than expected bounce, would still need a move above 40.50, and then hold around 40 on a dip or market still vulnerable up here

05 Mar 2013 02:52 pm
So for now still look for bounces to run out of steam and rollover because upside momentum erased unless 40.50 exceeded

05 Mar 2013 02:59 pm
Prior low and 60 EMA at 37.00, and NQ going sideways just over 2790, key to defend end of the day. 40.50 needs pushed through to finish well

05 Mar 2013 03:16 pm
Buyers have defended 37.75-37.25 low of this range, sellers stopping 4 bounces just under 40-40.50, a push over 40-40.50 needed

05 Mar 2013 03:25 pm
bounce will be sold into buyers are not comfortable out here and sellers risk is not a whole lot,

05 Mar 2013 03:31 pm
Could bounce here but not get above 40-40.50 and hold up there, 35.75 could be next support

05 Mar 2013 03:36 pm
Buyers backing off still, avoid long unless breakthrough 40.50 and tiny dip around 40 can hold. Not likely

05 Mar 2013 03:44 pm
Should hold 40-39.50 area, maybe at lowest, to keep upside going

05 Mar 2013 03:46 pm
59.75 pullback low so far and if it goes much further than uptrend will probably not go far

05 Mar 2013 03:46 pm
Have a nice afternoon, I will catch you tomorrow a little bit after the opening