This is Interesting. Thanks Tim Knight.

All of the talking heads are talking and talking about the FOMC. This is an important meeting for the market. Bernanke in February was pretty accurate in his assessment http://www.federalreserve.gov/newsevents/testimony/bernanke20120229a.htm . I am thinking the FOMC announcement is going to be pretty neutral. No QE3 with a TWIST. The market I believe has QE3 built in which is a mistake. It will be interesting to see the impact today. Stay tuned.

This upward channel is holding up well. I just wish it would get going. I am short the TLT which is an ETF for Bonds. This trade is not going in the direction I would like yet. We are hitting 90% + wins for the month of June in our day trades. May was 68% success and a very high expectancy. On our swing trades we are making money over the last two months. I just wish the win percentage was higher. I will soon be going live with a better trading plan. I expect to have this ready after the 4th of July. Happy Trading!

Today was one ugly day. I am not panicked yet due to the upward channel holding. It will be interesting to see if the higher lows continue. Watch and see tomorrow. It is going to be fun. Great trading for my day trades however I did take some heat in the long term.

Now this is a nice trade. I have my friend Dutch Masterswingtraders.com to thanks for this one. Earnings play and they tanked. I think I am going to Men’s Warehouse to buy some jeans.

Well we have found a turn. I am out of most of my puts and starting to enter some long positions. It does not look like the Bear Flag is going to manifest. The news is making the market do things contrary to the charts. Charts are held hostage often by the news. Let’s see how far up we go.

Jobs report BAD! This market is headed south. I was expecting this last consolidation to head north. We are at some real critical numbers with equities at this point. If the BEAR FLAG Pattern breakout continues as they do the majority of the time. This pattern developed Friday. We are heading much lower in the next couple of weeks. Stay tuned it is going to be an interesting June.

Looks like we have a bounce. Bonds are moving down and we have quite a few signals to the upside. The SPY has gone the full distance of the Head and Shoulders breakout. I am expecting the market to go up for a week or so and from there I am not sure. We will have to look for new patterns.

The music of Johnny Cash is ringing in my ears as I trade this market. I am LOVING IT. If you are in the S&P long in anyway you are singing the blues. As I said in my last post we were going into consolidation and believed the market was heading south. We will have to see how long this downtrend will last.

We are in a downtrend (lower lows and lower highs). It looks like we are going to test the top of the trend today. We shall see.