Buy ES at 1861.25

 

Gold's Two 'h' Pattern

From this one-hour chart, I guess two 'h' pattern  is enough, a third one is too much? What do you think Gold 'diggers'? I guess for today's session, a sideways or third drop is the battle, but by Wednesday and Thursday, a consolidation for the hard bounce is expected. Let's see.

Tip Alert: Crude's Possible Upside

Shown is the one-hour chart of the Crude prior to Calendar event(s) housing report by 10 am ET. I guess based from this chart, a possible upside for the Crude is possible. Two consecutive 'Darvas' box? is the basis for my observation.

Bear Flag Trade Setup

This time the market tumble some more with that bear flag pattern, surrendering further to selling pressure.

http://traderfeed.blogspot.com/2014/03/facing-execution-gap-running-your.html

Weekly's Market Random Thoughts

The market bullish sentiment is on idle situation with that bearish red bar with a long wick tail. Though it recovers heavily within a week, but I guess there is this tendency/sentiment from participants that there is a possible consolidation in the offing. It might drop a little bit but nobody knows, but that bar is a big concern. But from this humble market observer's point of view, the market is still on the way up with that (deep) cup with a handle pattern.

As for the Gold, that's the hardest part to make a view from the technical side, it's way too low from the ema's/ma's. I guess it might take a long time to get back from the three consecutive days of 'hard' setback. Three days of hard drop is going to take a while to recover, no idea what Gold will do from this scenario. Will take it day by day, let's just wait and watch how the HFT's miraculous ('maneuveristic') approach might/will do.

As for the Crude, it will be a long zag and zig days to come, a consolidation of hard bounce and a hard drop. It will be a day to day battle between participants, with the advantage going to those participants who has the guts to stay patient and watch the move like a hawk to their advantage.

 

 

Selling Spree

The market went on to a selling spree today, Friday, a profit taking day. Nasdaq was the leading sellers in today's market. Learned that biotech was the culprit that led traders/investors sold their position(s). Chart below was from the Nasdaq (NQ), it formed an 'h' pattern, a sell short signal.