Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Saturday, July 23, 2011

SPX, UKX(FTSE), VIX, FXE(EURO ), UUP (DOLLAR), USO (CRUDE).

The dollar (UUP) broke key support on Wednesday and it's poised to move much lower. Euro (FXE) is currently at key resistance. A breakout higher will lead to much higher prices. So it's very likely we will see much higher prices in the SPX (and indexes), but at this time, I need to see a move of the SPX above 1360 to be sure of much higher prices to come.
Fill your gas tank if USO (crude) trades above 39.15 because we will see higher prices at the pump that will be reflected 3days later and will keep going up for the next 1-3weeks depending on how fast USO gets to 42-43 before price at the pump starts dropping ;=).

FOR MONDAY:
If SPX moves above 1348 we will see prices rise as high as 1356-1360 for the day. If this happens too fast (in the early hours), then we will most likely see a pullback in the 2nd half of the day (going into the close). But if we see a steady rise from the open, then expect the SPX to close at the highs (1356-1360 or higher).

SPX-WEEKLY

SPX-DAILY

SPX-30MIN

UKX(FTSE)-WEEKLY

UKX(FTSE)-DAILY

VIX-DAILY

FXE(EURO)-WEEKLY

FXE(EURO)-DAILY

UUP(DOLLAR)-DAILY

USO(CRUDE)-DAILY