Market

Today we step back and look at the last 3 days of trading as they have broken both the ascending wedge formation and the megaphone formation to the downside (both are very bearish patterns).

My guess is that we could have started a shorter-term and potentially a longer term top. I outline the channel that people should be eying and the type of trades that we should be looking at. I also look at our 2 short trades that have been working out nicely

Duration : 0:5:1

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Feb. 12 (Bloomberg) — Kurt Sanger, Tokyo-based auto analyst at Deutsche Securities Inc., talks with Bloomberg’s Susan Li and Bernard Lo about the outlook for Japan’s auto industry.¶
Toyota Motor Corp., recalling more than 8 million cars worldwide, may lose more than 1 percentage point of U.S. market share this year from a previous analyst estimate and give sales to Ford Motor Co. and Honda Motor Co. (Source: Bloomberg)

Duration : 0:6:11

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Hey guys,
I have compiled a 3 part long video that not only talks about the SPY to its full extent but also about 8 different charts and how we’re suppose to read into this type of market. In this video I concentrate on the SPY. For the SPY I look at a potential move lower in early trading only to reverse and end up a little higher. I do believe that the H&S will eventually break but this might take another 4-5 days. I look at potential targets for the SPY as we move lower and where I believe shorting would be most desirable.

Duration : 0:9:43

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Today I look only at the SPY and VIX chart, but I forecast two potential scenarios in the market, that both lead to a higher (lower volume) ending day (0.5-1%) for tuesdays trade. The first is a small gap higher due to the amateurish action that happened in the last 20 minutes of trading and then a sustained low volume increase until the end of the day, potentially forming a doji green candle. The second is a continued sell off lower to hit the 88.20 level in which we will reverse mid day and end the day potentially flat or slightly positive. I hope you take my words of advice that I put out on this video because it is extremely important in order to become a good trader!

Duration : 0:10:20

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Future of banking after the credit crunch and sub-prime crisis – impact on global economy. Meltdown of financial markets. Fire sale of banking assets after mark to market tests. Capital adequacy, bank solvency and capital injection with partial nationalisation. Global chaos in banking and economic outlook for emerging economies / developed economies. Impact on banking profits from global economic chaos, recession and collapse in bank share prices. Retail banking, corporate banking, wholesale banking and investment banking will become profitable again. Economy Video by keynote conference speaker Dr Patrick Dixon . The banking crisis will lead to further consolidation, cuts in retail outlets and staff redundancies. This will remove competition from the market and allow greater profit margins over things like commercial loans and mortgages or current account bank charges. Coupled with cost-savings, this will result in healthy profits in future. Banking share prices are in turn likely to show recovery, which could also mean that the end cost of expensive government rescue packages may be less than feared, if they involved providing banks with equity in return for shares. Taxpayers may actually make a gain from their public ownwership of slices of banks. While huge remuneration for CEOs and Chairman of banks will come under scrutiny, and while regulation will be stricter, we can expect rewards for the most skilled bankers to once again be very generous. Interest rate cuts will also help banks indirectly by stimulating the businesses they lend to and helping to take the edge off a long recession.

Duration : 0:7:36

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Friday’s trading day was a game changer, the last hour rally was not one of just a short squeeze before a weekend but one that showed that we are now trading in a triangle formation and we could potentially break to the upside. I, However, suggest people play the triangle formation before getting all that bullish. The reason i have more inclination to the bullish side is because a triangle formation after a rally is usually looked upon as consolidation and the next move is usually a breakout to the upside, once that happens the market can shoot to the 1030-1040, and that will probably be the end of Primary wave 2, before a new bear market begins.

Duration : 0:4:58

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Today I update my fellow viewers on what the last 2 days of action really mean for this market. The DOJI candle that formed today on incredible low day could be viewed as two things: The first, is that it is a consolidation pattern for the huge move up that we had on Thursday. The second is that it is an indecision reversal candle. i would believe the former only if we get another day of consolidation down on low volume. However, I believe the latter because there are a lot of resistance which points could point to a move lower. We formed a double top area at 922 on the SPX, and this could actually be the top of the right shoulder. As we form the Head and Shoulders formation, other resistances such as the 923 level, descending channel, 20 SMA Daily lie overhead and could provide a strong push lower. Monday’s action could be one of a fakeout, we might get a rally in early trading to hit those resistances and then fall down from there to at least down 1.5%. If we fall down on low volume though, I will look to position myself long. My other advice is to not get too bullish before the 923-924 is broken. And also to take profits at the 880 level if it is reached at any point next week. We could very well break 880 but i think taking some profits off there is important and essential. I look at the SPY, AAPL, GS and VIX

Have a great weekend!

Duration : 0:7:46

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Here is what I think might be happening in the near future!

Duration : 0:5:1

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Nov. 20 (Bloomberg) — Mattel Inc., the worlds biggest toymaker, is seeing competition for its Barbie doll from MGA Entertainment Inc.’s Moxie Girlz. Worldwide sales of Barbie, who celebrated her 50th anniversary this year, dropped 8 percent last quarter. Bloomberg’s Jon Erlichman reports. (Source: Bloomberg)

Duration : 0:0:59

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Hey guys,
Today I give out a daily, weekly and monthly update of what I think is to come. Today’s last 10 minute of trading was probably due money managers and institutions wanting to have some of that long exposure to show their clients and tell them that they have not totally missed the 4-5% move up for the month of may. In the past 2.5 weeks we have been trading in a descending triangle formation, and we managed to break out in the last 10 minutes of trading, just to find resistance at another descending resistance which dates back to november and the january 6th high. In the first 5 minutes of the afterhours trading both the ES and the SPY hit the 200 SMA, even though the S&P remains 1 % away from the 200 DMA, there is a chance, that it may never touch it, since it’s been touched in the after-hours. We could however, see a small push on the S&P to touch that 200 SMA at 924-926 only to back off later in the week. Note: The Dow Jones 200 SMA is still about 4-5% away though, and that a fakeout slightly higher is possible. The financials today were weak, and kept the market from breaking to new highs, although at around 3:15pm the financials finally caught a bid and helped this market break out of a symmetric triangle on the 10 minute candle scale and then we saw the massive shoot up higher. Today I also look at the VIX, XLF, and explain why i see that we could move lower for the next month or month and a half.

Duration : 0:9:36

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