N QQQQ 46.36 - 47.67
N GLD 63.94 - 64.34
O USO 49.49 63.34
O ECA 64.54 - 65.66
N SPX 1501.65- 1509.73
O TSX 14114.38 - 13906.11
9:57 ET Right from start UTIL/TRAN/INDU are all at important Resistances
10:05 ET Q's edge to the resistance and INDU/UTIL still not able to move up, SPX has strong resistance 1511.40 NYA at resistance 9876.04 RUT stuck
10:09 ET GLD was rejected at 64.34
10:15 ET indices must break highs of last hour if higher move is to come. Some approaching exhaustion bars.
10:22 ET indices unable to show strength, in retreat.
12:35 ET my initial reversal timing for today was 13:45 ( stated yesterday), but I do not see any harm stating that we may have hit the reversal time now , with the exhaustion bar to boot. BE CAREFUL THOUGH NOTHING SAYS THAT THERE IS NOT HIGHER EXHAUSTION BAR COMING
12:50 ET NOTE, INDU at strong resistance 13453 and ~50% retrace, SPX 50% retrace and strong level already indicated 1511.xx , QQQQ ~78% retrace , NY strong resist acne 9899.9 ... etc.
13:03 ET, got the turnaround, If short trail stops immediately
Jim Taylor, JD said...
Hi Boris, HI JD, GOOD TO HEAR FROM YOU
Major Cluster:
Dow: 13457
NAZ: 2613.5
NYSE: 9902.5
N100: 1936
R2K: 841
S&P500: 1510.5
Jim
6/28/2007 10:09 AM
14:13 ET, before FED Frankly, I think this cycle of Pressure Gages will play out fully. That is market will move higher until the Sell Pressure becomes, high. So, the game plan should be that
14:13 ET SHORTS ARE RISKY HERE.
14:33 on FED day, stay away. I do not trade on this kind of day
Jim Taylor, JD said...
Last day of 2nd quarter Friday, DOWN
11 of last 15 for the DOW
Jim
6/28/2007 12:53 PM
16 comments:
Hi Boris
Does John have any times for reversal??
thanks
danno
The total FED injections today are $23.75 billion.
Don't fight the FED...they have more money than we do
John
Dear Danno,
Today I have not yet heard from JD, but I think we just hit a exhaustion bar and the timing at 12:30 looks good to me.
Thanks Dear Danno and Good Trading
Dear John, So true, It is our money that they play with you know...
Good Trading
Thanks Boris
Hoping the FED will kick off a retrace. Not that it has anything to do with the FED if u know what I mean.
Thanks
danno
Enjoy Dear Danno.
Thanks and good trading
Hi Boris,
Major Cluster:
Dow: 13457
NAZ: 2613.5
NYSE: 9902.5
N100: 1936
R2K: 841
S&P500: 1510.5
Jim
Boris, what do you mean by the term "retrace": 50% retrace, SPX 50% retrace and strong level already indicated 1511.xx , QQQQ ~78% retrace?? Thanks
Dear Stan,
Good Questions, ther retrace means percentage of the move from last high and low moved in the other direction. So let us say DOW was at 1000 and came back to 900, So it has travled 100. Now if/when the DOW goes back to 950, it would have retaced the 50% of preceeding dtop.
These are significant numbers ( 38, 50, 62, 21 78 percent) these are called the fibonnacci retracements.
Good Trading Dear Stan.
Boris,
You are right, again. Stick with the game plan. Too much pressure on managers to buy for the end of the month.
My guess: A lot of hedges were in place for this number, and they will be lifted today and tomorrow.
John
Dear JOhn, This is a wipsaw day and I refust to play the suckers game. Let the market settle and show the hand.
Good Trading
ABSOLUTELY!!
My wife has me cleaning the family room.
That is great JOhn, it is better to trade from the clean , whatever , room...
GOod Trading (: :)
I have profits already Boris.
thanks
danno.
Dear Danno, whatever you did. Enjoy. Profits are always good.
Good Trading
Last day of 2nd quarter Friday, DOWN
11 of last 15 for the DOW
Jim
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