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Nasdaq 100 Trading for Tuesday, February 5

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March Nasdaq 100 contract has fired 2 Day ROC Sell, 90-10 Low Continuation & Reversal, and Momentum Pinball Buy signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. The Momentum Pinball Buy signal suggests that IF the first hour's high happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a long position. Cycle Indicators (chart at right) are mixed, but the larger trend is to higher prices. Odds favor continued downside in today's early trading. Look for an opportunity to sell the break of yesterday's 2709.00 low or even earlier if price demonstrates weakness below the 2726.50 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 2686.50 or the Extended Low Range Projection level of 2667.25 would be likely areas for such a reversal to take place, as would a test and failure of yesterday's low. The Momentum Pinball Buy signal tells us to assume an upside bias if the first hour high happens to be taken out.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

2642 Hits

British Pound Trading for Monday, February 4

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March British Pound contract has fired 2 Day ROC Sell, Wide Range Downside Reversal, Low Range Close, and Momentum Pinball Buy signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. The Wide Range Downside Reversal signal tells us that Friday's trading likely marked a significant short term turning point with more downside to follow. The Low Range Close signal tells us that the late day weakness should carry on through to this morning's trading. The Momentum Pinball Buy signal suggests that IF the first hour's high happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a long position. Cycle Indicators (chart at right) appear as if a short term cyclical top has just been marked, and the larger trend is to lower prices. Odds favor continued downside in today's early trading. Sell the break of Friday's 1.5685 low with a stop just above the 1.5757 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

1718 Hits

Russell 2000 Trading for Thursday, January 31

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March Mini Russell 2000 contract has fired 90-10 Low Continuation & Reversal and Momentum Pinball Buy signals for today's trading. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. The Momentum Pinball Buy signal suggests that we'd want to consider longs if price is strong enough to break the first hour high. Cycle Indicators (chart at right) appear as if a short term cyclical high has just been marked, but the larger trend is to higher prices. Odds favor continued downside in today's early trading. Look for an opportunity to sell the break of yesterday's 891.70 low, or even earlier if price demonstrates weakness below the 897.20 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 884.90 or the Extended Low Range Projection level of 878.90 would be likely areas for such a reversal to take place, as would a test and failure of yesterday's low. The Momentum Pinball Buy signal tells us we can consider the long side even sooner if the first hour's high happens to be broken to the upside.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

1577 Hits

Heating Oil Trading for Wednesday, January 30

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March Heating Oil contract has fired 2 Day ROC Buy, 90-10 High Continuation, and Momentum Pinball Sell signals for today's trading. The 2 Day ROC Buy signal implies that today's principal trade direction should be to the upside. The 90-10 High Continuation signal is fired when the day closes within the top 10% of the day's range. It tells us that yesterday's late day move higher is likely to continue on into today. The Momentum Pinball Sell signal suggests that IF the first hour's low happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a short position. Cycle Indicators (chart at right) are moving into a region where short term cyclical tops often form, but both the larger and more immediate trends are to higher prices. Odds favor continued upside in today's early trading. Look for an opportunity to get long on a break of yesterday's 3.1003 high with a stop just below the 3.0818 level of the Daily Pivot. Price strength above the DP may provide clues for earlier entry. The Momentum Pinball Sell signal, on the other hand, suggests we consider the short side if the first hour's low happens to be broken to the downside.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

1738 Hits

Follow-up to January 28 Recommendation in US T-Bonds

Monday's trading in T-Bonds developed as forecast in Sunday evening's post, resulting in some very profitable opportunities.  Register to get these forecasts delivered directly to your in-box at www.PatternTrapper.com.
To best use these free reports be sure to check out the On-Line Course.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

1655 Hits

US T-Bond Trading for Monday, January 28

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The March US T-Bond contract has fired 90-10 Low Continuation & Reversal, High Breakout Continuation Setup, and Momentum Pinball Buy signals for today's trading. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. The High Breakout Continuation Setup signal implies significant upside IF Friday's 145-25 high happens to be taken out. The Momentum Pinball Buy signal suggests that we'd want to consider longs if price is strong enough to break the first hour high. Cycle Indicators (chart at right) appear as if a short term cyclical top has recently been marked, and the larger trend is to lower prices. Odds favor continued downside in today's early trading. Look for an opportunity to sell on a break of Friday's 143-30 low, or even earlier if price demonstrates weakness below the 144-19 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level 143-05 or the Extended Low Range Projection level of 142-14 would be likely areas for such a reversal to take place, as would a test and failure of either Friday's 143-30 low or the 143-17 swing pivot low set on January 4th. The Momentum Pinball Buy signal, on the other hand, suggests we consider the long side if the first hour's high happens to be broken to the upside.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

2571 Hits

Natural Gas Trading for Friday, January 25

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

 

The February Natural Gas contract has fired 90-10 Low Continuation and Momentum Pinball Buy signals for today's trading. The 90-10 Low Continuation signal is fired when the day's trading closes within the bottom 10% of the day's range. It tells us that yesterday's late day move lower is likely to continue on into today. The Momentum Pinball Buy signal suggests that IF the first hour's high happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a long position. Cycle Indicators (chart at right) appear as if a short term cyclical top has recently been marked, and the larger trend is to lower prices. Odds favor further downside in early morning trade. Look for an opportunity to sell the break of yesterday's 3.441 low with a stop just above the 3.493 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry. The Momentum Pinball Buy signal, however, tells us to change our bias to the upside if the day's first hour high happens to be taken out.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

1702 Hits

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