March 31, 2011
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 🙂
March 30, 2011
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.
March 28, 2011
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.
March 26, 2011
Extremely bearish pattern THREE BLACK CROWS has formed on GBPUSD currency pair. It is time to switch to core short position!!!
March 25, 2011
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 !!!
March 24, 2011
My favorite bullish formation diagonal triangle is forming on CHIMIMPORT stock (6C4/CHIM). Let’s see the resolution in days ahead.
March 24, 2011
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!!!!!!