Wall Street Weekday Update for 05.15.2012 we look at UNG

the Daily and weekly charts are Bullish UNG

On the daily chart April 23, April 30 and May 8th were strong moves up.

Consider Selling UNG JUNE 16 PUT; Last Trade @ $43

EXHIBIT 1.1 Daily Chart UNG

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Wall Street Weekday Update for 05.15.2012 we look at the Gold & Oil

We have Oil and Gold futures nearing a key support level and may build a base here or bounce. We need to watch the US Dollar and Bonds as well for signals.

Energy Light Sweet Crude Oil $CL_F $USO $OIL $DBO $XLE

Metals $GC_F $GLD $GDX $GDXJ $IAU

Wall Street Weekday Update for 05.15.2012

I am expecting we will have a reversely in the markets this day or later in the week. Some traders may had pre position them self yesterday afternoon session. Do to the Economic Calendar for this mornings new to be released in the 8:30 am period

My thought is this market may get goosed up in prices this week and then a further self off. So you can play this several ways You can buy deep in the money call options of the SPY and then sell them fast when the bounce occurs. Then look for the bounce to end and sell naked calls or buy puts.

Economic Calendar Event PENDING TUE May 15

Economic Calendar Event PENDING TUE May 15

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Wall Street Weekday Update 1 from WED APR 11 BIG WINNER!

First chart is before and Second Chart is after.

EXHIBIT 1.2 Daily Chart SPX S&P 500 INDEX

As mentioned yesterday in EXHIBIT 1.2 the pattern showed in the up right chart with the gray box looking likely to become a Reversal Period.

EXHIBIT 2.2 Daily Chart SPX S&P 500 INDEX

The trade was a big WINNER! …>>> Take profits if you have not.

We are expecting a further upside that may last Friday during morning session or ext till next week. Yes next week is Options Exp more whip saw during that week.

Wall Street Weekday Update for 04.11.2012

The S&P 500 Index has formed a pattern alert today. The Candlestick today was a inside bar (Blue Candle). This means the trading range  today never traded beyond those price levels of the prior candle.

The chart below shows this pattern high lighted in gray fives times since last NOV 2011

EXHIBIT 1.1 Daily Chart SPX S&P 500 INDEX

Ask your self Bullish, Bearish or Neutral the S&P 500 the next day?

PS

EVENT: THURSDAY 8:30 am ET Economics “Unemployment Claims”

Options Exp next Friday

APRIL 30 is Sell in May and go away

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Wall Street Weekday Update, well look at the Big Picture.

This post includes chart of the following products; US Dollar Index, S&P 500 vs VIX, Gold and Oil.

Do to the time period to discuss these products, I can not make this happen now. But I put enough information in the charts for a wise chart reader to locate Support and Resistance levels. Then apply proper Money Management and Trading Methodology.

EXHIBIT 1.1: Daily Chart (UUP ETF vs. US Dollar Index)

EXHIBIT 1.2: Daily Chart (SPX vs. VIX)

EXHIBIT 1.3: Daily Chart (SPY ETF vs. SPX)

EXHIBIT 1.4: Daily Chart (GLD ETF vs. Gold Futures)

EXHIBIT 1.5: Daily Chart (GLD ETF vs. Gold Futures)

EXHIBIT 1.6: Daily Chart (USO ETF vs Light Sweet Crude Oil Futures)

Wall Street Weekday Update, we look at Silver!

EXHIBIT 1.1: Daily Chart (Silver Futures & ETF stock)

Silver is coming it to a key resistance level as shown in the charts with the purple horizontal line.  If your in the silver trade as a long position, always have a stop loss in place to protect any gains you have made.

From the look of the chart, it appears silver is in a range bound between $38.993 on the top and $32.30 on the bottom.

If Silver gives it up near the Fib of 38.2% level and shows a trigger to go short. We will look to explote the trade.

We will short the Futures contract, Buy the silver ETF “ZSL” and sell the PUT option with a strike price either OTM or highest Extrinsic Value.

Wall Street Weekday Update, we look at S&P 500 Index vs. VIX!

EXHIBIT 1.1: Daily Chart (S&P 500 Index vs. VIX)

In exhibit 1.1:  We see the S&P 500 Index yesterday had a wide trading range. We came down to attempt to fill the gap and close above the lows of the day.  The VIX also had a wide trading range.

We can expect some attempt for further down side in the S&P500 for the late arrival of any further sellers. We will look for a opportunity to either go long from trigger off a support level or go short off a weak bounce that fails near a resistance levels. We feel the price action of the US Dollar Index will  cause the S&P 500 Index  to act the reverse direction.

Since next Monday in the United States is the holiday of Memorial Day , The U.S. Finance Markets  are closed. We expect some bullish bias to occur this week and likely to follow through some parts of next week.

EXHIBIT 1.2: Daily & 60min Chart (S&P 500 Index)

In exhibit 1.2:  We will watch the S&P 500 Index intraday for the trigger to entry in a trade.

If  we trade bullish will use the ETF (SPY) and for the short will use (SH). Well also look for trades with the Currencies ETF’s of;  UUP, FXE, UDN and EUO

Wall Street Weekday Intraday Update for 05.5.2011 S&P 500, VIX and the US Dollar

EXHIBIT 1.1: Daily Chart (S&P 500 Index vs. VIX)

Above we see a intraday chart of the S&P 500 vs. VIX

EXHIBIT 1.2: Daily Chart (S&P 500 Index vs. US Dollar Index Futures)

Above we see a intraday chart of the S&P 500 vs. US Dollar Index

The S&P 500 vs the VIX; The S&P 500 has touched and bounce off near a major support level. If the S&P closes above yesterdays close of 1347.32 we should expect some follow through on the upside Friday. If we break the blue over head resistance line we will look for a test to higher prices.

The US Dollar will give better signals if the S&P goes higher Friday. So if the USD pulls back later today or before the markets open Friday We can expect some sort of pop in the S&P. The USD is coming in to over head resistance prices near 74.458.

With all this Bullish Bias in the Markets and the killing of another monster in human form aka Osama bin Laden. Plus summer season rolling here next month. Why would the public be bearish unless you understand Economics. Most of the public is watching ESPN, American Idol or some sort of Passive receptive to outside impressions or influences.