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Morning all, just posted my morning report http://www.facebook.com/CTCATrading Twitter @chirag1082. Thanks Chirag
Key comments I posted during yesterday's trading (you will find all these comments at http://www.facebook.com/CTCATrading or twitter @chirag1082 and some posted on this forum) and explanation to help you understand their importance: "SPY key level to recapture is 155.27" - once it did this it was free to run. "if this SPY candle closes abv 155.42 it is bullish but then needs to confirm above it straight away and close above 155.54" This kept it above key levels providing key support areas that it could not get below easily. "My expectations for the US markets today were for early weakness, with 2 key signals suggesting that - and then for a float later in the day which is what seems to be playing out" - that continued to play out for the rest of the day, with the SPY leading the charge which is bullish for the markets. Notice how the DOW lagged, which is what I have been expecting. I'd posted 2 scalp levels which had a short validity for timing, "SPY 155.89 and DIA 144.98" - These were key resistance levels and notice how price came into these levels and stalled out for some time before getting above them. "AMZN rocketing, 264.50-265 is a good level but the better area is 266 for a scalp short. and then my 2nd target which i posted in my report which is 268.50" and "AMZN rocketing, 264.50-265 is a good level but the better area is 266 for a scalp short. and then my 2nd target which i posted in my report which is 268.50" and "but I think it will stall out at $266" - AMZN high was 265.90 and had a 250pt pull back from there.
With reference to the two below messages I posted this morning just before and the second just after the markets opened, notice how the markets have recovered and recaptured (on a confirmation basis) key technical levels. The SPY key levels were 155.42 and 155.54, but still need a confirmation above on the 60 min to cement it. "Avoid the hype of falling markets this morning, just watch the charts. Some early weakness in the US markets, but nothing too terrible. Let's follow the technicals and see what they tells us" "Some key gaps below key levels today which could suggest river theories, however, unless they show follow through, it means nothing. So far there is no follow through. Markets are showing resilience so far but markets now starting to struggle. JPM has bounced off very good supp so could see more of a bounce, but again, gapped below my key 48.33 level so let's see what happens."
Euro is still v weak - i said yday or 2 days ago that i can see it geting to 1.26 soon. Near-term upside is to 12790, it has a small bottoming tail on the 60 min so could see a bigger move, but I'm not expecting too much for now. Need to see how it reacts at 12790
JPM gapped below the 50 DMA but my key level was 47.95 as I've mentioned a number of times before. As long as it holds above that day today on a closing daily basis, it has upside potential.
AMZN rocketing, 264.50-265 is a good level but the better area is 266 for a scalp short. and then my 2nd target which i posted in my report which is 268.50
Some key gaps below key levels today which could suggest river theories, however, unless they show follow through, it means nothing. So far there is no follow through. Markets are showing resilience so far but markets now starting to struggle. JPM has bounced off very good supp so could see more of a bounce, but again, gapped below my key 48.33 level so let's see what happens.
Morning everyone! I've just posted my ,morning pre-market report for the US markets: http://www.facebook.com/CTCATrading Twitter - @chirag1082
SPY is starting to take the lead which is a good sign for the mkts ad so is the QQQ. If JPM can get above the 49 level and then 49.32 then we have a potentially strong rally on our hands for a few days!
AAPL is getting ready to reverse IMO as I was expecting it would do later in the day
AAPL playing out weak so far just as I'd mentioned in my pre-market report. JPM so far paying out beautifully as per my report this morning. I'd said to look for early strength and weakness later, and "A key level for JPM to continue to hold is 48.33" and that's exactly where it bounced! CAT showing early strength and now weak as expected. CVX also strong early but now showing relative weakness as was my prognosis. GOOG sold off from the open as I had said it would and is now holding up whilst markets remain strong just as expectations. IBM was strong early and now showing relative weakness, like I was expecting, but it is holding the key $212 level for now which I had said to watch for. It is struggling to hold it so can easily fall unless markets show major strength.
Ye, it is very true! That's why I started to do it for myself but I used to just write it on my charts and read it everyday. It really helped and my trading improved a lot. But I learnt a lot on this forum, so nice to be able to give something back! Where are the old guys like Plays, Spaced...? I've forgotten some of the other names! But assume Tie and Mella are no longer on here?
Well I've been doing it for a while on my own, but thought I may as well share it with others it will help other people! ;) I've found I've been very accurate in the past, so no reason why it would change now.
Sounds like you've got a nice life with your golf Farmer! ;)
Morning all, just posted my US pre-market report for those interested. http://www.facebook.com/CTCATrading Twitter: @chirag1082
Hey Farmer, doing ok thanks mate. How have you been mate? Did you manage to get out of all your Euro trades, I remember you had a lot!!
Hey guys, haven't posted here in a while, hope you're all doing well, see some old names Farmer, F430 - hope you're all well! There's a nice trend line on the dax you might want to watch if you trade it, I've posted it on my blog if you want to check it out http://chiragschartanalysis.weebly.com/
Yep, CHILDISH! A lack of respect for other people to close the topic - I don't get why people think they own a forum just because they created the topic? If the rest of you want it back, perhaps we can all message the admin as there is no reason why they should not allow it to be brought back? Can't imagine there are any privacy issues etc....