CRUDE OIL to target 115-116 area

Ascending triangle is forming on Crude oil futures. The target of this formation is 115-116 area. I am gonna buy the breakout with UCO. This is one of mine favorite bullish formations anyway no guaranties only probabilities. this formation goes for 80% probability for upside breakout. let’s see the resolution

XLY vs XLP – Time for caution!

Consumer Discretionary vs Consumer Staples is very good indicator of overall sentiment of consumers. As you may note 20&50 EMA is about to cross bearish, that is make me think that we are entering a range trading mode in overall market.

Copper in focus – bearish case

Copper broke its bull trend and current bounce is not more than dead cat bounce. We have heard a rumor  that on friday Goldman Sachs advised their private clients to jump out the copper trade.

GBPUSD – It is time load shorts

Extremely bearish pattern THREE BLACK CROWS has formed on GBPUSD currency pair. It is time to switch to core short position!!!

RIMM – Warning signal and then a BANG

RIMM is down >10% after market due to low guidance. RIMM was showing relative weakness lately and bearish cross of 21&34 EMA should guide you that there is something wrong with this stock. Bearish cross is mostly followed by a sell-off for one reason or another !!!

Bulgarian Equities – CHIMIMPORT (6C4 / CHIM)

My favorite bullish formation diagonal triangle  is forming on CHIMIMPORT stock (6C4/CHIM). Let’s see the resolution in days ahead.

S&P500 trading against 1300 resistance

Chart below shows that sell off from Feb-Mar 2011 was bought by Large traders as COT report shows. Today S&P500 is trading against very important resistance and any close above 1300 will make Small Traders to run to the hills massive short covering is expected!!!!!!

Managed accounts

I am starting offering managed accounts service if you are interested here is more info http://trendroom.wordpress.com/managed-accounts/ or contact me via email

fast and furious markets

I am really surprised to see my target (link) of Japanese yen filled in just 2 days wow that was fast !!!

DO NOT IGNORE WARNINGS OF PRESENT AND ANTICIPATE THE NON EXISTENT FUTURE

THOSE WHO FOLLOW MY BLOG WERE WARNED THAT S&p500 IS HEADING FOR A FALL (MY POST) LONG BEFORE JAPAN STORY HITS THE WIRE. THERE WERE SERIES ( LINK AND NEXT ONE LINK ) OF WARNINGS AND IF YOU IGNORED THEM YOU PROBABLY NOT DOING GOOD.