Commentary:
Stocks ended mostly down on Monday, but barely. The S&P 500 was the day's only winner, as it closed higher by a meager 0.1%. For the second time in as many days, the S&P MidCap 400 closed flat. Both the Nasdaq and the Dow Jones Industrial Average slid 0.1%, while the small-cap Russell 2000 was the weakest performer on Monday, as it shed 0.2%. The market was listless yesterday.
Internals were mixed yesterday. Volume slid on the Nasdaq by 14% and on the NYSE by 19.8%. On the NYSE plus volume outpaced minus volume by a ratio of 1.3 to 1, while on the Nasdaq declining volume topped advancing volume by 1.2 to 1. For a second straight day, market internals have provided no...
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the shooting star formula is:
O>C1 AND ((C+O)/2)-L<(H-L)*0.4 AND H=MAXH10
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"There is only one side to the stock market; and it is not the bull side or the bear side, but the right side." - Jesse Livermore
Authors: Administrator
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 Currency Outlook: USDJPY
USDJPY: The pair has rallied through its resistance levels at the 77.29/32 level during Tuesday training session and set the stage for further strength possibly toward its Dec 23’2011 high at the 78.20 level.This new technical development is coming on the back of a consolidation initiated following its declines from the 78.20-76.60 levels. On a continued recovery, further upside momentum will shape up towards the 79.49 level, its Oct 2011 high. This will be followed by the 81.47 level, its July 08’2011 high and subsequently the 82.21 level, its May 24’2011 high. Its daily RSI is b...
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Completed Correction in Oil?
Nearby NYMEX oil experienced a deep retracement of yesterday's upmove from 97.40 to 100.24. This morning's low at 98.25 followed by an upside pivot and rally to 99.20-plus preserved yesterday's low as well as its up-leg, which itself exhibited bullish form.
If my work proves accurate, then today's deep retest satisfies a completed correction of yesterday's up-leg, and as well initiates a new up-leg in oil and the U.S. Oil Fund ETF (USO). The up-leg should hurdle near-term resistance at 101.20/25 on the NYMEX chart on the way towards testing the January high at 103.74.

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- The MKT is in neutral but open to a positive "corrective" trade against an underlying negative bias. Opportunity exists on both sides of the MKT today, however, the return of the underlying negative momentum must be respected.
- On the SELL side accept BREAKOUT, FADE and REVERSAL strategies off major inflection points with the expectation that any trade has the potential to be the start of a negative shift. Use aggressive position management to reduce profit giveback as the neutral posture can produce some false signals. If the market is going to sour, it will hold negative structure and deteriorate. If not, a choppy trend-less trading environment should be expected.
- On the BUY...
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GBPJPY: Strengthens, Bullish Offensive Set For The 122.75 Level (Daily Technical Stra
GBPJPY: The cross rallied strongly on Tuesday building on its recovery and opening the door for a move further higher.With continued bullish offensive seen, the risk is for GBPJPY to head higher towards the 122.75 level, its Dec 22’2011 low. A cut through there will convince the market of further corrective gains towards the 123.14 level, its Nov 15’2011 high with loss of there aiming at the 127.30/21 levels. A breather is expected to occur here. Its daily RSI is bullish and pointing higher suggesting further strength. On...
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eSignal Software Questions and Discussion
Welcome to the eSignal forum, post your questions and discussions here!
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