Sunday, September 25, 2011

Silver YR4 to YPP?

This chart shows the high for the year was at the Yearly R4 Pivot back in May. Price always has a way of coming back to the Pivot Point(P), since that's where pricing is the most efficient. Since YR4 was the high this year, I'm looking for suuport on Silver at the Yearly P(YPP) at $27.42 ish.
update: Silver futures got down to $27.15 the other night :)

Friday, September 16, 2011

crude oil YR4 to YS2

Oil traders must be using yearly pivot points. The high this year on CL futes was at the Yearly R4 Pivot and the low this year is on the Yearly S2 Pivot. Knowing where support and resistance is, has it's advantages.

Wednesday, September 7, 2011

ES futures YR3 to YS3

With roll over happening this week, I decided to look at the new December ES chart. Wow. The Yearly R3(YR3) pivot nailed the high last spring and the Yearly S3(YS3) pivot caught the fall we had last month. Then we bounced up to the Yearly Pivot Point at 1219 before falling again late last week. If YS3 fails look for YS4 @1038. We may just trade between Ys3(1095) and YPP(1219) the rest of this year. Open gaps above at 1325 and 1250, and below at 1090 and 1049.

10 Year US Bond at YR4

The December 10 year bond futures chart is testing Yearly R4 pivot past few days. Will it be resistance?
update 9-13-11: ZN kissed the yr4 pivot yesterday and has started to pullback. It may make a head and shoulders top up here. I hope it does. More confirmation of a reversal.

Tuesday, September 6, 2011

Bear Flag Pattern

September is starting off just like August did. Ugly! The charts are showing a bear flag pattern. Which the name implies, look for more down side or more sideways consolidation from 10,750 to 11,750 range. Thats a big range! We have open gaps at 10725 and at 11900. If we do break down below 10,400 then look for next support at 9700, which is the 50% Fibbonanci Retracement from the 3/2009 low. The monthly s1 pivot is at 10,700 and monthly s2 is at 9800. Monthly r1 is at 12,400 for you perma bulls. I still believe we have started a new bear market, and that it will be ugly for a few years.