MakisSwingTrader

Monday, July 25, 2011

SPX-DAILY, SPX-30MIN, FXE (EURO), UUP (DOLLAR), FDX

I don't have the chart of UKX (ftse) because today's data is not showing up on the chart. I don't know if the symbol was changed or technical issues. I'll have to look into it at TdAmeritrade (my broker). The chart will be posted as soon as today's data becomes available.

FOR TUESDAY:
The SPX-30min chart is in a Bull Flag pattern. Also, there is an Inverted Head and Shoulder forming (still early at this time as it still needs to complete the right arm of the right shoulder). A move above 1345 will break out of the Bull Flag and the neckline of the Inverted HS thereby result to a push higher. So look for a trade above 1345 as the breakout point.

SPX-DAILY

SPX-30MIN

FXE(EURO)

UUP(DOLLAR)

FDX(FEDEX)

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