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Russell Mini Trading for Thursday, August 2

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 September Russell Mini contract has fired 90-10 Low Continuation, High Breakout Continuation Setup, 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 High Breakout Continuation Setup signal implies significant upside IF yesterday's high happens to be taken out. 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. Odds favor further downside in early morning trade. Sell the break of yesterday's 768.90 low with a stop just above the 776.20 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry. The Momentum Pinball Buy signal tells us to change our bias to the upside on a break of the first hour high.

 

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

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S&P E-Mini Trading for Monday, July 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 September S&P 500 E-Mini contract has fired 90-10 High Continuation & Reversal and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation & Reversal signal is telling us to look for morning follow through on the strong close, but to expect a likely reversal once the initial move has topped. 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) appear as if a short term cyclical low has recently been marked. Odds favor continued upside in today's early trading. Buy the break of Friday's 1385.00 high, or even earlier if price can demonstrate strength above 1373.50 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 resistance levels. Our Normal High Range Projection level of 1398.75 or the Extended High Range Projection level of 1411.00 would be likely areas for such a reversal to take place, as would be a test and failure of Friday's high. NOTE: September Nasdaq 100 and Russell 2000 e-mini contracts have fired similar signals as the ES. This means that they can be traded in like fashion.

 

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

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Gold trading for Thursday, July 26

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 August Gold contract has fired 2 Day ROC Buy, 90-10 High Continuation & Reversal, 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 & Reversal signal is telling us to look for morning follow through on the strong close, but to expect a likely reversal once the initial move has topped. 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) appear as if a short term cyclical low has recently been marked. Odds favor continued upside in today's early trading. Buy the break of yesterday's 1610.0 high, or even earlier if price can demonstrate strength above 1598.7 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 resistance levels. Our Normal High Range Projection level of 1624.1 or the Extended High Range Projection level of 1636.4 would be likely areas for such a reversal to take place, as would be a test and failure of yesterday's high.

 

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

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Follow-Up To The July 20 Recommendation In The S&P 500

Monday's trading in the S&P 500 developed exactly as forecast in Friday evening's post, resulting in some very profitable opportunities. Register to get these forecasts delivered directly to your in-box at www.PatternTrapper.com.


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S&P E-Mini Trading for Monday, July 23

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 September S&P E-Mini 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 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 high has just been marked, but the more immediate trend is to higher prices. Odds favor continued downside in today's early trading. Sell the break of Friday's 1357.00 low, or even earlier if price demonstrates weakness below the 1362.50 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 1350.75 or the Extended Low Range Projection level of 1345.00 would be likely areas for such a reversal to take place, as would a test and failure of Friday's low. 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.

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