7/6/16

DIA SPY QQQ Big Picture - 7/6/16


With all the market jitters, it can be hard to see through the fog.

Taking a step back, DIA and SPY technicals indicate bullish sentiment, QQQ appear to be trending sideways.


7/5/16

DIA Technicals, Entering Dog Days of Summer - 7/5/16

DIA Resistance 180, support 170. 

Hard to make a bullish case for $DIA.

I expect a lot of chop within 180/170 range through the summer.

If your a retail trader who has been profitable so far this year, don't give it all back in the dog days of summer.


AAPL July 5th 2016


Support looks to be 90, the market likes nice round numbers. I have to admit I own nothing Appel, but I have acknowledge Apple may be at a good buying point. Trading is not as easy as just buying low, regardless of what the pundits say. To buy Apple now most likely will put a buyer to the test. Apple can easily test 90 before finding support before it goes higher.

If you're basing your analysis just on the chart, this looks like a sell, but Apple is unlike any other stock, lots of "invested interest" in Apple, big money will look for an opportunity or excuse to get long.  Less than six months to test previous highs of $120, I have a feeling the bulls will start putting their money to work in the near future.

Cnet:
Will Apple ditch its 16GB entry-level model with the iPhone 7?


6/29/16

YM 6/29/16


R1 18000
S1  17200
S2  16961

It was last Thursday's Brexit vote, that triggered a 976 pt nose dive, the market has recovered 690 pts. Surprise surprise, we are 286 pts from previous highs.

I try to avoid giving predictions to where price will go next, the mind can fall in love with our own opinions, clouding judgment on what is actually happening.

6/27/16

YM 6/27/16

Market will go higher and lower than what most expect.

R1 18000
S1 17201 bearish territory
S2 16950 look out below!

As retail traders are licking their chops at the idea of selling the Brexit aftermath, I would trade with caution. Big money will look for an opportunity to buy at the low end, crushing the shorts in the way.
I try not to get to wrapped up in the news or my own predictions, but it would not surprise me to see the markets rebound with the headlines reading that the Brexit fears are contained.

6/25/16

CME Trading Simulator...a joke.

If you're reading this, you are probably killing time, I got you covered. See if you can beat my high score of $2,133 $3,584. CME group website offers a very unrealistic trading simulator that gives you the option to "hedge" or "speculate", I played as a speculator.


Post your high score in the comments lol.

Click here for simulator.

6/24/16

Brexit...what's next?

R1 and R2 hold after Britain votes to leave

Traders have a lot to think about over the weekend, buy sell or stay on the sidelines. I for one would not want to be holding on to any weekend positions; too much risk and for a lottery ticket.

UK Exports:
http://www.tradingeconomics.com/united-kingdom/exports

6/23/16

YM Chart Daily 6/22/16


As a  part of my trading preparation, I have maintained a routine of reviewing charts and manually backtesting my method. Part of my routine is looking at a daily chart to get more perspective of where support and resistance levels are at. With that said, less talk more charts.

Analysis... Pros buy support and sell resistance regardless of time frame.

Trade well!