Category Archives: Uncategorized
Gold Down…. Market Up
Finding Resistance
/ES S&P 500
This area may give it up eventually. I am seeing this as an area for a pull back. I am still out of this for the long term. My daily charts said to go long which I would still be if I had stayed with the chart. Still long the XLU. Looks like it is running out of gas for the up move. I hope it has a small pull back and then goes again. We shall see.
USD/CAD
Pretty typical move below the resistance. Look for a retest.
/CL Oil
This is not a happy chart. It hit resistance and Iran snubs the big dogs. See what happens when it hits the 34 area. I say it is going to get real tight.
/GC Gold
Gold is looking to find resistance. Let’s see if the last high will be the swing high. Watch as it pulls back into one of the fib levels.
/ES is Making a Change
/ES S&P
Support tested and held. Notice my resistance area which I think will hold. We definately have a trend change setting up. My daily charts set up for the longs. I broke my rules and only got long the XLU which can trade against trend.
USD/CAD
The 1.37 area has given up the fight. Still staying close to the previous support 1.33-1.34. 1.27-1.28 is the next level. See if it can make there.
/CL Oil
27.00 area held up. looks like it is setting a trading range from 27-38.00. I did get a good signal to go long last week. I thought about the manipulation and decided to wait. Broke the rules. The trade would have gone great just like the /ES long.
/GC Gold
Happy happy happy. Looking for where it can find resistance. Watch 1280.
No Surprises
ES S&P 500
No real change from last weeks look. I think the Fed and Oil is trying to make moves to save this level. Personally I feel they will fail just not sire how long it will take. I am out of everything at present.
USD/CAD
Same as before, The are 1.37 is holding. I keep hoping for it to come below. When I say hope there is no technical reason for it to hold. Pretty simple. If the 1.37 does not hold then see how long it trades at the 1.34 area.
CL Oil
Interesting thing this week as Saudi Arabia, Iran and Russia talked about holding this record level of production. Let’s see who blinks. I say this area holds unless they turn down the spickets. You can see the levels that are in play now. See if it can form a bottom. Another note I received a signal to short today. I chose not to take it because I think they will manipulate. I also would like to see more room to move. These are excuses. We shall see if my feelings are warranted. It sure makes a trading system hard to measure when I do this kind of thing.
GC Gold
No changes really from last week. It did move above the level I discussed however came right back to hold 1240. I should be long this but missed it the day I received the signal. I missed the GDX also. Man I hate it when that happens.
Getting Caught Up
/ES S&P 500
Trying to find support at the 1800 area. I am pretty confident they are going to test this area again. It will then go to 1940 if it holds. I was short the DIA the first of December and made a really nice trade to the area it is trading now. I also shorted the DIA on 2/02/2016 which I am out of the second half now. Still short half on the IWM. I sure hope this area does not hold.
USD/CAD
If you are Canadian you hope this 1.37 area breaks down. We shall see. I think it will give to the next level of 1.35.
/CL Oil
Next level is 23.22. I am pretty sure it will hold and go into a range 32.50 to 23.22. It is making a nice structured move down.
/GC Gold
Pretty nice move. Should see a stall at 1235ish. See if it goes to 1235 and pulls back to 1190 area. Like to see it do that then make a strong run at the 1235 area. I received signals on the GLD and GDX but work got in the way. Missed it. Ugh!!
Been Awhile…..Let’s Do This
I will start posting again. I have a vision for the site. Soon will see many post.
Quite a Mix
ES is trading in a pretty nice range of consolidation. anything long term I am waiting for it to make up its mind. Might be time for a few condors. I have a hard time playing the sideways channels. I would rather look for confirmation from resistance to support this week.
USD/CAD I think this is going to test the highs from March of 2009. Keep the averaging in strategy. Next short will be placed when the 1.30 is dealt with one way or another.
CL Back above 50. May make a run for the 70 mark. Sure is overdue for the correction after this last huge move. Watch the 59.30 area for a stall. before heading to the 70.00
Gold This is doing pretty much as planned. I do not like that it went below the 1239. Look for it to go into the 1225 area before turning. We shall see.
S&P Looking for Support
ES is going sideways as discussed in the last post. No changes. Watch the 1961.50 area to hold support. No entries at this time.
USD/CAD I am tracking this due to the many Canadian friends I encounter each day. I see this holding below 1.3062 for a while. Might be a good time to buy Canadian dollars. Average in anyway. By a half position with the anticipation that this will hold and pull back to the 1.18 area.
CL Oil is trying to find support. I feel that it wants to go lower. It needs to get back above 50 and stay. If not I look for it to test this spot as resistance and go lower.
GC is going to pull back to around 1239 before it try’s to make another run.
Break Out Gold, Oil finding support and the S&P trying to Hold
ES has made turns in the lower support box 2 weeks in a row. Look for it to hold this area for a little longer. for it to go down it needs to break and close below 1961.50. I think this is not likely.
TF same set up as the ES
CL created a doji (indecision) candle. Starting to look like it is going to hold. I do not trust it. Sure needs to go up for a bit to find the resistance.
GC Break out as we discussed last week. Actually it moved very well once it got above 1239. Might see 1311 next week. I think the odds are higher that it test the 1239. We shall see.
Swing4it.com 