Charts I’m Watching: Sep 25, 2012

ORIGINAL POST:  9:00 AM EURUSD running out of steam… Would love to short around 1.2971. DX finding support for continued push higher…stands a very good chance of breaking out of the channel today or tomorrow…  I’m an aggressive buyer at 79.33. e-minis hitting resistance… Fading this rally unless we break out of the triangle… currently … continue reading →

Charts I’m Watching: Sep 20, 2012

ORIGINAL POST:  10:00 The logjam finally broke.  We slightly exceeded yesterday’s 1464.50 target — topping out at 1465.15.  This morning’s action reached the downside target “A” we established on Monday [see: The Hangover.] We got a bounce at the bottom of the red channel — which should reach the 1454-1455 area — the recently broken … continue reading →

Update on Oil: Sep 20, 2012

Oil has tumbled the past few days, begging the question “what about QE3?”  It was supposed to prop up commodity prices.  There are many competing theories as to the influence of elections, Saudi assistance, etc.  But, the bottom line is CL had tagged some important channel lines and simply corrected. There are some pretty obvious … continue reading →