tag:blogger.com,1999:blog-6842036031859472688.post1224608102003584683..comments2024-03-20T23:01:34.838-07:00Comments on Art Of Trading: NDX and ERX Setting UpUnknownnoreply@blogger.comBlogger11125tag:blogger.com,1999:blog-6842036031859472688.post-78106216868336681522009-06-24T14:51:13.100-07:002009-06-24T14:51:13.100-07:00ooops. my bad TALC. just caught your email/comment...ooops. my bad TALC. just caught your email/comment dude. Ya, i am hoping you guys got of ERX on today's pop! my target was 29-30. shoulda been out by now.Stewiehttps://www.blogger.com/profile/18426469322190080207noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-83225535499992436602009-06-24T14:26:23.624-07:002009-06-24T14:26:23.624-07:00Hey Stewie,
ERX was doing pretty nicely today eh (...Hey Stewie,<br />ERX was doing pretty nicely today eh (at least until noon). Do you have any thoughts on this going forward? Seemed like a pretty weak afternoon, even though the day still ended positive.<br /><br />I was looking at the hourly chart and couldn't help but notice the 3 equal pushes to the downside over the last couple weeks. Normally I'd think that after three pushes a move might be exhausted, but the market in general has seemed decidedly negative.Talcnoreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-4075031620654174842009-06-23T17:09:29.448-07:002009-06-23T17:09:29.448-07:00Hi Stewie thanks for your charts.
Nice work thanks...Hi Stewie thanks for your charts.<br />Nice work thanks.<br />My 2 cents<br /><br />Spx close below 935 = 895.10(+2.06)<br />Between range that I predict to very short term. <br />Below 908 I expect [880,893] very short term.<br />Below 935 I expect [790,820] medium term.<br />Remember two possibles scenarios:<br />Dont`t break range [880,893] and we will see pullback again target expect between [935,921].<br />Break range [880,893] and we will see soon 850.<br /><br />If spx close hourly above 908 I have to reduce some shorts.<br />Tomorrow resistance Hourly 908,900. Macd near to invert again but have to confirm with a close above 908.<br />Wednesday’s Economic Data<br />8:30 a.m. May Durable Goods Orders<br />10:00 a.m. May New Home Sales<br />2 p.m. FOMC Meeting<br /><br />Click to zoom in.<br />Enjoy<br />http://followmarketrend.blogspot.com/2009/06/spx-update-daily-and-hourly_23.html<br /><br />NDX - http://followmarketrend.blogspot.com/2009/06/ndx-update-daily-and-hourly_23.html<br /><br />and DAX - http://followmarketrend.blogspot.com/2009/06/dax-update-daily-and-hourly_23.html<br />Enjoy big trades for youFffhttps://www.blogger.com/profile/16172119771788353498noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-71053504813843420062009-06-23T11:09:04.162-07:002009-06-23T11:09:04.162-07:00I would look at XOM, XLE charts for ERX. Technical...I would look at XOM, XLE charts for ERX. Technicals on 3x ETFs sometimes convey nothing. FAZ RSI, MACD are in grave but it refuses to rise.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-90890043850860155872009-06-23T10:17:12.136-07:002009-06-23T10:17:12.136-07:00Yes, I saw multiple inverse head and shoulder patt...Yes, I saw multiple inverse head and shoulder pattern this morning. SPX is testing the neckline at 898 from below and may form the right shoulder, so does XLF.Shawnhttps://www.blogger.com/profile/08155630920582744324noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-8121394460577928102009-06-23T10:10:03.422-07:002009-06-23T10:10:03.422-07:00shawny: daily chart on ERX started to form a tail ...shawny: daily chart on ERX started to form a tail in here. 28 -ish is was my first target and if you are patient and can handle some wiggles then 29-30 is very possible this week.Stewiehttps://www.blogger.com/profile/18426469322190080207noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-91001905941719900232009-06-23T10:08:20.035-07:002009-06-23T10:08:20.035-07:00Thanks Stewie. I am in ERX at 27.4
Let us know wh...Thanks Stewie. I am in ERX at 27.4<br /><br />Let us know when you exit! Thanks!Shawnhttps://www.blogger.com/profile/08155630920582744324noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-53573898268755391322009-06-23T09:47:19.231-07:002009-06-23T09:47:19.231-07:00shawny: i think you might right with your comments...shawny: i think you might right with your comments but ERX sure is working right now.Stewiehttps://www.blogger.com/profile/18426469322190080207noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-66021862818920425912009-06-23T09:17:41.428-07:002009-06-23T09:17:41.428-07:00Stewie, good charts. But I think your NDX has a be...Stewie, good charts. But I think your NDX has a better set up than ERX. <br /><br />I am not sure if this is correct or not, but my experience tells me using "internal" analysis on these 3x ETFs are not useful. Remembered they are non-linear as they derivatives and move according to % of underlying benchmark.Shawnhttps://www.blogger.com/profile/08155630920582744324noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-90924895639609231282009-06-23T08:54:36.292-07:002009-06-23T08:54:36.292-07:00hi talc.
ERX is extremely oversold so a severe b...hi talc. <br /><br />ERX is extremely oversold so a severe bounce will trickle in. i say trickle because the bulls are very gun shy right now. But if ERX starts to manifest any sort of strength and we see many shorts run for cover than ERX should target1 at 28 and then the more powerful area of resis would be 30 where that gap from a couple of days ago.Stewiehttps://www.blogger.com/profile/18426469322190080207noreply@blogger.comtag:blogger.com,1999:blog-6842036031859472688.post-45200711055213043442009-06-23T08:51:33.330-07:002009-06-23T08:51:33.330-07:00Hey Stewie, thanks for the charts. I've got a ...Hey Stewie, thanks for the charts. I've got a little ERX myself. Where would be a logical target you think this could end up? It seems to me that the gap at 30 would be pretty hard to overcome, given the importance that region has had over the year so far.Talcnoreply@blogger.com