Saturday, October 1, 2011

Forecast for week October 3rd 2011 ( $SPY $ES_F $NQ_F $EURUSD $6E_F) :

The charts below are made with Free Ninjatrader platform and Free end of day Kinetic Data Feed. It is easier than with my regular Data Feed not available on week-ends.Volumes are normalized (Ben©indicator), 100% is average volume.

▲ We were bearish on Indices last week. They went up and down again back to same level. We are now in the most rocky month, October. If you read my last week post, I am still bullish on equities starting maybe in November. For now, I think will still have big volatility for the next weeks. I will watch the bullish wedge below to play long and below 1100 level to be short. The green rising line is the long term bullish channel.

As you noticed I did not post on stocks recently. My long term positions are in bad shape. I keep them are they are good companies. I just added and will do again on $GMXR. For now I focus on day trading futures, ES and CL. With a small account I made 15% in September. If the volatility remains I will rebalance par portfolio on more short term trading.

▲ No change on $EURUSD, still long term bullish. We just don't know the bottom. I started a small long long term position and will add if necessary. I sold @ 1.52, bought @ 1.4, resold @ 1.48, and now it is time to buy again. This is the advantage to have 2 currency account. No stress and you can still trade with both.

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We remind you that you can watch our TV channel (left side of this page) everyday day, mainly morning US Market time, with a live real time S&P500 ES M1 chart with cumulative bid/ask volume below, plus internals (Nyse Tick and Advance/Decline). It is an exclusive template with experimental indicators ploting divergences, extreme ticks, main levels to watch,  and some of our trade in direct live, plus audio real time news. Live chat also available


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