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.

Thursday, July 5, 2012

SPX

Please excuse the late post.

Due to the fact that the month of June was a good one for the market, this is an indication that the Job Report released tomorrow (before the open) will be better than the previous report and better than expectation. With that, I expect market the market to push higher tomorrow. A bad report will be a big surprise and therefore going to lead to a much bigger sell-off than the rise with a good report. (But this is very unlikely to happen).

Note that this however does not mean the unemployment rate will drop. It is most likely that it will remain the same (8.2%) or even tick up. But it doesn't matter for market action tomorrow unless a significant rise or drop takes (which I don't see that happening tomorrow).

SPX-DAILY IV


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPX-30MIN LONGER TIMEFRAME


SPX-30MIN SHORTER TIMEFRAME


SPX-5MIN