Charts I’m Watching: Sep 3, 2015

Note: I’ve posted August’s results (+32.44%), available HERE.  I’ve also let the membership promotion run through today’s trading session for anyone who would still like to take advantage.  It’s a 39% savings off the regular annual price (which increases this afternoon) and a 55% savings off a monthly subscription.  Best of all, it locks in your rate for as long as you’re a member.  For more details and to sign up, CLICK HERE.

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Draghi’s comments could be summarized as “all sizzle, no steak.”  They were enough to momentarily boost ES over 20 points — now back down to a mere 9-pt gain.  Importantly, the boost gave USDJPY a chance to reset.  It dropped nearly half a percent with little effect on stocks due to the offsetting ECB effect (and, the fact that the “markets” haven’t yet opened.)2015-09-03 USDJPY 60 0620This was beneficial on two counts.  First, it gives “markets” the opportunity to experience the euphoria of topping 120.11 all over again.  Second, it allows ES to develop a nice little right shoulder in yet another IH&S.  Our decision to go long at 1904.11 on Tuesday is looking better and better.

For all you daredevils out there, here’s your opening!  Long at 1904.11.  And, if you do, good luck sleeping tonight!

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