Tricky Trading

Are you seeing flashing RED and GREEN lights in your sleep?  You are not alone.  The markets have been volatile and even short term traders may be finding that if you dont lock in immediate gains or at least take partial profits, then next day the trade can flip against you.  lets look at some charts and see where we are currently...

As I write this report, this is where the futures are. A lot of GREEN so far  ( Gold is actually up $4 from the close of 1157.40, I dont know why they show up here as down at 1162.00)


I sent out a cautionary update in the afternoon yesterday,  lets discuss that first ...

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Update July 8

Just a quick note

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Overnight Futures are down - "China is panic crashing" is the word today.  Half of the stocks trading in China were halted to prevent a landslide crash. So far I just see March prices ahead. 3 months ago the SSEC was here.  See the chart of Greed & Fear below.


July 6 chart :  Yesterday I was pointing out several reasons why I would expect to see a reversal higher in the markets.  It appeared that we also found support at the 200sma Monday, but Notice what I wrote on this clip from yesterdays report  (underlined in Red).   It just seemed likely that we would get a stop run below the 200sma and then a reversal higher. LOOK at that CPCE matching OCTOBERS market lows!  (Click to enlarge)


We got the shake out below the 200sma and a reversal. Our futures are down again, will we get another reversal higher today? If so, it could be a buying opportunity, let me explain...

SPX 7-7

Here is the NASDAQ -

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