Watch list for 01/30/2009

Watch list for 01/30/2009

Watch ideas:

Long:

Short:

_______________________________________________________


If you have any questions, please feel free to contact me.
Good luck trading today!!!!

Ivica Juracic
mailto:ivica@ivicacharts.com

Market commentary for 01/30/2009

Market commentary for 01/30/2009

Good day!

After bad economic news (unemployment claims reached a record high and new home sales hit a record low) indices back all Wednesday gains and back when started after the Tuesday. With other words Wednesday gap is filled what is not good action for market recovery. We got another prove that safest places for trading are intraday setups and that every overnight trades are higher risk right now. Market just doesn’t support long swing trading and market again reminds us that we are in the bear market. When we look at the 60 min chart we can see that gap is filled. Selling pace was not that strong as buying pace day before, but it was enough strong to see that will be hard to back soon on the Wednesday high. Also on the daily chart we have another prove about the QQQQ strength and the DIA weakness. The DOA closed right at 10sma support area, while the QQQQ barely close under 20sma. The SPY was again in the middle and still have room for morning weakness continuation for completely filling gap. Since indices closed at lows charts again suggest for morning continuation, same as yesterday, but different direction. I don’t have strong bias, but I’m sure that trading risk is high and it will best to stick with smaller time frame setups and that will be my focus for now.

Wish you all good trading!!!

Kind regards.
Ivica
Danded2005@inet.hr

FOREX Corner

FOREX Corner
Date: 01/29/2009

Time: 07:00 ET
Time: 12:00 GMT
­­
Good day all,

If you have any questions, please contact me.
Good luck trading today!!!!
Ivica
Danded2005@inet.hr

Watch list for 01/29/2009

Watch list for 01/29/2009

LONG:

Day trade possibilities (DT-ST)

_____________________________________________________

SHORT:

Swing possibilities (ST-PT)

_____________________________________________________

Watch ideas:

Long:

_______________________________________________________


DT - day trade
ST – swing trade
PT – position trade
DT-ST – starting with day trade and can turn to swing trade
ST-PT – staring with swing trade and can turn to position trade
­­­­­­­­­­­­­­­­­­­­­_______________________________________________________

If you have any questions, please feel free to contact me.
Good luck trading today!!!!

Ivica Juracic
mailto:ivica@ivicacharts.com

Market commentary for 01/29/2009

Market commentary for 01/29/2009

Good day!

FED keeps rated exceptionally low and Obama administration plan for banks brought market up at Wednesday. Day started with good new for banks what pushed market higher at the open. Gap up was strong and Indices opened above daily resistances. After NR7 bar and strong gap it was expectable to expect trend day, what we got in the morning. Problem was with FED announcement at 20:15 pm ET what increased risk, but after FED keep unchanged rates stocks had enough reasons to stay strong. We saw correction after 21:00 reversal period and right now we can see that was just false break down. Before the end indices back that intraday reversal and closed near highs. If we look at the 60 min charts we can see that the QQQQ was strongest and reached equal move resistance area, while the SPY and the DIA still have room for it what suggest for continuation in the morning. The DIA was again weakest and still have room for equal move and 200sma resistance area, while the SPY closed above 200sma, but still have some room to reach equal move. Daily chart show same strength/weakness confirmation. The DIA still have room for 20/50sma, while the QQQQ closed strong above all moving averages. The SPY was again in the middle, reached 12/05/2008 high and gap area and also closed barely above 20/50sma.
For Thursday morning I will look for buying continuation and charts suggest that action, unless we will get some bad news, what is always high possibility in the earning session. Financial sector got new injection but we must still know that on the bigger time frames we are still in the bear market. So caution on long side is still open. If indices will hold this levels next days, odds for back on previous daily high will increase. But that depend on correction what we can expect after the morning action. You all know that after trend day we can expect consolidation day and from that action we will know better what to expect. Right now, new swing trades will be higher risk and safest place will be with intraday setups, but still good to compare individual charts with market action for possible new swing setups.

Wish you all good trading!!!

Kind regards.
Ivica
Danded2005@inet.hr

FOREX Corner

FOREX Corner
Date: 01/28/2009

Time: 05:55 ET
Time: 10:55 GMT
­­
Good day all,

If you have any questions, please contact me.
Good luck trading today!!!!
Ivica
Danded2005@inet.hr

Watch list for 01/28/2009

Watch list for 01/28/2009

LONG:

Swing possibilities (ST-PT)

____________________________________________________

Day trade possibilities (DT-ST)


_____________________________________________________

SHORT:

Swing possibilities (ST-PT)

_____________________________________________________

Day trade possibilities (DT-ST)

_____________________________________________________

Watch ideas:

Long:



Short:


_______________________________________________


DT - day trade
ST – swing trade
PT – position trade
DT-ST – starting with day trade and can turn to swing trade
ST-PT – staring with swing trade and can turn to position trade
­­­­­­­­­­­­­­­­­­­­­_______________________________________________

If you have any questions, please feel free to contact me.
Good luck trading today!!!!

Ivica Juracic
mailto:ivica@ivicacharts.com

Market commentary for 01/28/2009

Market commentary for 01/28/2009

Good day!

Tuesday gave us very narrow range day. Actually it was NR7 day) narrowest day in last seven days. I believe that most of you know that NR7 bar is always opportunity for trend day and that is what we could follow tomorrow. Unfortunately trading risk won’t be good to us because of FED meeting at Wednesday and that always increase trading risk. Technically we can see on the 60 min charts that triangle is narrower and soon we can expect to see direction. I don’t have strong bias for direction. I think that it is 50/50 right now, but important is to follow pace and volume. That will give us direction. Without that risk will be very highs. Since charts don’t suggest which way we will see it will be smart to leave initial breakout and then take direction with smaller time frame continuation. Example: breakout on the 60 min charts and then follows 5 min continuations (base triangle or flag). Another option is to take trade without market confirmation, but only half size and then add after market confirmation. When I look daily chart my main worry is volume. It is lower on rally and higher on selling and for now it confirm down trend, but if indices will break up from 60 min charts with strong pace and volume then the SPY/DIA will have room for move to 20sma what will be next resistance area. Note that is always higher risk to stay in day trade in to FED announcement, also it is always high risk to take new trade right after announcement, because market reaction can be very whippy.

Wish you all good trading!!!

Kind regards.
Ivica
Danded2005@inet.hr

FOREX Corner

FOREX Corner
Date: 01/27/2009

Time: 06.50 ET
Time: 11:50 GMT
­­
Good day all,

If you have any questions, please contact me.
Good luck trading today!!!!
Ivica
Danded2005@inet.hr

Watch list for 01/27/2009

Watch list for 01/27/2009

LONG:

Swing possibilities (ST-PT)

____________________________________________________


SHORT:

Swing possibilities (ST-PT)

_____________________________________________________

Day trade possibilities (DT-ST)


_____________________________________________________

Watch ideas:

Long:



Short:

________________________________________________________________


DT - day trade
ST – swing trade
PT – position trade
DT-ST – starting with day trade and can turn to swing trade
ST-PT – staring with swing trade and can turn to position trade
­­­­­­­­­­­­­­­­­­­­­___________________________________________________________________

If you have any questions, please feel free to contact me.
Good luck trading today!!!!

Ivica Juracic
mailto:ivica@ivicacharts.com