…a few days head start in beginning its rally attempts off of recent lows. Buxl (Eurex GBX Sep14) continues to show signs of topping after a strong extended rally. The oversold bounce expected on NG (CME Natural Gas) has taken longer than expected, and I’d caution against any aggressive long positioning here until NG falls back to 61.8% retrace of rally from 2012 low, which is still a fair bit below current levels. Any oversold bounce on today’s i…
…e the change in contract month to the Oct given the rollover taking place. BUXL (Eurex GBX Sep14) Weekly/Daily/4hr/Hourly/30min/5min The GBX continues sitting off my radar until it hits its all-time April 2012 high. I will then watch for its weekly MACD to stop rising and begin falling, and for its weekly RSI and Stochastics to begin rolling over. Note the daily reshuffling of the charts. As mentioned, they’re ordered by how favourable the risk:re…
…art. The 4hr and hourly RSI, Stochastics and MACD are mostly rolling over. BUXL (Eurex GBX Sep14) Weekly/Daily/4hr/Hourly/30min/5min The GBX is almost at its all-time April 2012 high. Wait in the next few sessions for its weekly MACD histogram to stop rising and begin falling, and for its weekly RSI and Stochastics to begin rolling over. Note the daily reshuffling of the charts. As mentioned, they’re ordered by how favourable the risk:reward of th…
…rom KC until it becomes clear the uptrend is resuming. I was wrong to cite BUXL (Eurex GBX Sep14) as a short candidate so early, as the longer term chart (now posted below) clearly shows that it’s going to want to target its all time high made in April 2012. I am now flat GBX. Silver (CME SI Sep14) is getting close to forming an intramonth bottom, given the psychologically important $20 level as well as the lag it often exhibits in following GC’s…
…4) Weekly/Daily/4hr/Hourly Euro Philadelphia Index Weekly EURUSD Weekly/Daily/4hr/Hourly EURCHF Weekly/Daily/4hr/Hourly I’ll profile USDX, USDJPY, GBPUSD, Buxl, Silver and Gold again when a trade setup nears. Newsletter Guide Trading Rules…
…aily/4hr/Hourly USDX Weekly USDJPY Weekly/Daily/4hr/Hourly EURCHF, GBPUSD, Buxl, Silver and Gold are all looking increasingly interesting but I won’t have time to cover them as I’m trying to limit the number of markets covered to the symbols I can cram into my daily tweet (on Stocktwits.com/Twitter.com). Once one of these markets provides a better risk:reward trade setup, I’ll bump off one of the markets profiled above. Newsletter Guide Trading Ru…
…oided until it appears a temporary tradable bottom is in place. I’ll leave BUXL (Eurex GBX Sep14) in the background for now as the longer term chart (now posted below) clearly shows that it’s going to want to target its all time high made in April 2012. I am now flat GBX. Netflix (NFLX) had a slight selloff Friday after a week of rallying from its oversold levels. NFLX will likely becoming an interesting short in the next day or so when it becomes…
…ly/Daily/4hr/Hourly Natural Gas (CME NG Nov14) Weekly/Daily/4hr/Hourly Raw Sugar (ICE SB Mar15) Weekly/Daily/4hr/Hourly I’ll profile USDX, EURCHF, GBPUSD, Buxl, Silver and Gold again when a trade setup nears. Newsletter Guide Trading Rules…
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…ec14) Weekly/Daily/4hr/Hourly Although I feel Tesla (TSLA), USDJPY and the Buxl (Eurex GBX Dec14) continue forming major tops, and Soybean (CME ZS Nov14), Wheat (CME ZW Dec14) and Corn (CME ZC Dec14) major bottoms, I haven’t profiled their charts in today’s list as their daily and 4hr charts currently suggest less favourable risk:reward today versus my trade ideas presented above. As usual, I try listing as many tradable setups (which I consider t…
