Market Data - 09/06/08

Since May 27, the ESU08 contract has had a (Yesterday's Close - Today's Close) difference greater than -20 ten times, and 9 times of those 10, the next day's close was higher than the previous day.

Charles

Charles

Market Structure and Divergence

Using a market structure technique helps to make sence of a turbulent intraday market. The higher highs or lower lows help to determine market bias. Good place to enter is when market corrects just past the 38 EMA on the above 620 tick chart.

Within 10 minutes of the European markets close, the market jumped following a Price / $TICK divergence.

Charles

Ill Wind May Blow in August Employment Report

MarketWatch report on the August Employment Report.

One of the advantages of being a trader of markets is that as long as you have money and markets to trade, you are always employed.

Charles

AfterMarket Data - 09/04/08

Charles

Morning Action - Well Bearish 09/04/08

Thought that there may be a chance for a reversal after 1000 ET, but the market is just too bearish. $TICK momentum on the 5 minute chart turned red at 0945 ET and stayed red. The long term moving average on the 1 minute chart also dipped below zero at 0945 ET and stayed below zero. I did make a profit on a long position, but got out quickly since the action to the upside felt weak. My bigger gain was a short position, of course.

Charles

S&P 500 Review - 09/04/08

Typically, the monthly open is a decent indicator as to whether we have a bullish or bearish month. So far, September is living up to its historical tendency to be a bearish month.

On the 60 minute chart, the 1260 - 1263 area is still holding as support. If the market closes below 1260, look for continued weakness.

Charles

AfterMarket Data - 09/03/08

Charles