S&P 500 Visual Trading Update
General Notes:
How do you explain that the Greek CDS improved dramatically? Is it because
Angela Merkel accepted to give German tax payer money for paying Greek past
excesses? Or maybe it's closing time for the big boys positions, after their
maneuvers were a little bit compromised in the US and European political
corridors.
As always we leave this question open for your consideration. The situation
is a bit bizarre: Rising GOLD and Stocks but no real move in currencies. The
EUR is still in its very large trading range, but the Australian and
Canadian currencies are showing us that the China suppliers are not getting
more momentum.
We enter another end of week of Us Jobs data. This is starting to get ugly,
after all the money poured on this issue, and the small results achieved.
Larry Simmons told us yesterday that the weather did have an effect on these
numbers, but we don't know toward which direction.
If it will be on the downside, it will tell us that the momentum for cutting
costs is still in force, even when people cannot get to work. The general
structure of the markets looks like topping but it can take a long while for
seeing dramatic changes.
Current Trading Plan:
Position: LONG
Last (26-02-2010) Closed position @ 1104 (-$4)
Long: Since 02-03-2010 at 1115
Short: Below 1084
Exit by Stop Loss: at 1115 (Breakeven)
Technical Indicators Notes:
Last time we said: "No range here. The index is showing strength: following
the upper Bollinger band, RSI and STOC in a very positive combination, MACD
in Daily and H4 charts, moving upward, and over their signal line. But the
most important point, for today, is that the index has moved beyond the
61.8% Fibonacci retracement (Daily chart) after rebounding at the 38.2%
level. Such action is always bullish. The obvious target is 1125. We are now
long with the SL at the breaking level of the small internal up trend line."
Theoretically, the index has arrived at the level we mentioned. It is now or
never. If it will go further, in big volume (look volumes stats in the
different financial outlets), we will know that it wants to take out the
January highs, and that the start of the next bear market have been
postponed. We move our LONG SL to breakeven, because it is the best thing to
do (money management wise).
RSI-STOC Combination: Reversing from an overbought situation.
ATR: At a level where volatility starts to increase.
MACD: Daily and H4 in a positive setup and momentum, but H4 looks curling
down.
Charts Legend:
In Price Window:
Simple Moving Average (20): Green
Bollinger Bands (20,2): Violet
Support & Resistance price areas: Pink and Light Green areas
Trend lines and Channel Boundaries: Blue
Elliott Waves Counts: Black and Blue numbers
In Indicators Part:
RSI (10): Blue, STOC(5,3,3): Green, ATR(5): Blue
MACD (12,26,9): Blue, Signal: Red, Histogram: Green
Indicator trend lines and effects: Magenta
Signals:
Long: Above the Green line
Short: Below the Red line
Exit position: On crossing the Cyan line
SL in case of triggered level: Dashed Cyan Line
---
CFDs trading analysis written by Moshe Shalom for CFDsPros.com
---
Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves
substantial risk of loss and may not be suitable for all investors. You
should carefully consider whether trading is suitable for you in light of
your circumstances, knowledge, and financial resources. You may lose all or
more of your initial investment. Opinions, market data, and recommendations
are subject to change at any time.
General Notes:
How do you explain that the Greek CDS improved dramatically? Is it because
Angela Merkel accepted to give German tax payer money for paying Greek past
excesses? Or maybe it's closing time for the big boys positions, after their
maneuvers were a little bit compromised in the US and European political
corridors.
As always we leave this question open for your consideration. The situation
is a bit bizarre: Rising GOLD and Stocks but no real move in currencies. The
EUR is still in its very large trading range, but the Australian and
Canadian currencies are showing us that the China suppliers are not getting
more momentum.
We enter another end of week of Us Jobs data. This is starting to get ugly,
after all the money poured on this issue, and the small results achieved.
Larry Simmons told us yesterday that the weather did have an effect on these
numbers, but we don't know toward which direction.
If it will be on the downside, it will tell us that the momentum for cutting
costs is still in force, even when people cannot get to work. The general
structure of the markets looks like topping but it can take a long while for
seeing dramatic changes.
Current Trading Plan:
Position: LONG
Last (26-02-2010) Closed position @ 1104 (-$4)
Long: Since 02-03-2010 at 1115
Short: Below 1084
Exit by Stop Loss: at 1115 (Breakeven)
Technical Indicators Notes:
Last time we said: "No range here. The index is showing strength: following
the upper Bollinger band, RSI and STOC in a very positive combination, MACD
in Daily and H4 charts, moving upward, and over their signal line. But the
most important point, for today, is that the index has moved beyond the
61.8% Fibonacci retracement (Daily chart) after rebounding at the 38.2%
level. Such action is always bullish. The obvious target is 1125. We are now
long with the SL at the breaking level of the small internal up trend line."
Theoretically, the index has arrived at the level we mentioned. It is now or
never. If it will go further, in big volume (look volumes stats in the
different financial outlets), we will know that it wants to take out the
January highs, and that the start of the next bear market have been
postponed. We move our LONG SL to breakeven, because it is the best thing to
do (money management wise).
RSI-STOC Combination: Reversing from an overbought situation.
ATR: At a level where volatility starts to increase.
MACD: Daily and H4 in a positive setup and momentum, but H4 looks curling
down.
Charts Legend:
In Price Window:
Simple Moving Average (20): Green
Bollinger Bands (20,2): Violet
Support & Resistance price areas: Pink and Light Green areas
Trend lines and Channel Boundaries: Blue
Elliott Waves Counts: Black and Blue numbers
In Indicators Part:
RSI (10): Blue, STOC(5,3,3): Green, ATR(5): Blue
MACD (12,26,9): Blue, Signal: Red, Histogram: Green
Indicator trend lines and effects: Magenta
Signals:
Long: Above the Green line
Short: Below the Red line
Exit position: On crossing the Cyan line
SL in case of triggered level: Dashed Cyan Line
---
CFDs trading analysis written by Moshe Shalom for CFDsPros.com
---
Disclaimer
Trading Futures and Options on Futures and Cash Forex transactions involves
substantial risk of loss and may not be suitable for all investors. You
should carefully consider whether trading is suitable for you in light of
your circumstances, knowledge, and financial resources. You may lose all or
more of your initial investment. Opinions, market data, and recommendations
are subject to change at any time.