Wednesday, May 30, 2012

Crude oil support

July crude oil futures is getting close to the yearly 1st support levels at $83-$84. Also, the 76.4 fib is at $83.50 from 2011 lows to 2012 highs.

Thursday, May 24, 2012

Euro yearly support pivots

I'm looking for the Eur/usd to find support on the yearly S1 pivot point at 1.2232, or at the yearly Camarilla pivot point at 1.2387

U.S. Dollar index close to resistance

U.S. Dollar index is getting close to the yearly Camarilla H3 pivot point. The yearly pivot point(P) was the low this year so we should see a test of the yearly R1 pivot point at $83.42.

S&P MS3 pivot caught the fall

The monthly S3 pivot point (3rd level of support) is holding, for now.

NDX Ms3 caught the fall

The monthly S3 pivot point caught fall on the NDX June futures. We could bounce up to the 20 day at 2600.

Wednesday, May 23, 2012

Crude oil Yr1 to YS1?

Since the yearly R1 pivot point was the high this year on July crude oil, and the price is now below the yearly Pivot(P), the next support area is the yearly S1 pivot point at $82.95.

Tuesday, May 22, 2012

DJIA 1,000 point fall

The Dow had a dead cat bounce on Monday, after falling 1,000 points, from the high of the year. My target is still the yearly Pivot Point (P) at 11836. The Yearly R1 pivot point was the high this year, so it only makes sense to come back down to test the yearly P. Before that watch for next support on the 200 day(12200) and there is an open gap at 12217 from the close on 12/30/2012.  Look for shorting opps on this bounce....imo.

Ford Monthly S2

Ford has found support on the Monthly S2 pivot point. The 1000sma(weekly 200) is below at $9.78. Ford could be a bottom here.

Groupon YDMH - YDML

Groupon(GRPN), this years high was at Demarks yearly DMH pivot point and the low this year was on Demarks yearly DML pivot point. I like GRPN as long as it holds the 20 day(yeallow line).

Thursday, May 17, 2012

Gold on yearly DML

Gold is testing the December lows and the yearly Demark Low pivot point(DML). Is this the low for the year on Gold? Probably not, but its a good place to look for a bounce.

Wednesday, May 16, 2012

U.S. Dollar index at MR3

The U.S. Dollar has had a big run this month. That's why oil and gold prices are down. Today the dollar index is testing the monthly R3 pivot point. It probably will pullback here a little before going up to the Yearly R1 pivot point at $82.87.

Tuesday, May 15, 2012

CLN2 held the YPP

Looks like crude oil found support on the Yearly pivot point(YPP). Pro oil traders must be using yearly pivots charts. Bull harami pattern today is bullish on  the YPP. I read that they are going to reverse the oil flow from Texas to Cushing, OK this week. I'm not sure what effect that will have on prices. After falling 15% from the high this year, we shoud see a short covering bounce soon.

S&P YH4 to YH3

The S&P's rally this year stopped at the Camarilla yearly H4 pivot point. That's where smart money either sold their longs or they went short there. Now the market has pulled back to the Camarilla yearly H3 pivot point. Possible short term support here. If we break down, there are open gaps below at the at 1325, 1312 and above at 1350 and 1390. Also the Monthly S2 pivot point is 1327.

Monday, May 14, 2012

Crude oil on YPP support

July crude oil futures have gone from the Yearly R1 pivot(R1) point in February to the Yearly Pivot point(P) today. Textbook pivot point move.....rally to R1 then pullback to the P! Look for support here.

JPM on support

JPM fell last week and now is sitting on the yearly pivot point and also the monthly S3 pivot point. JPM should find support here....short term.

Opex week

Last week the market consolidated on the 100 day. This week is Opex so look for strike prices to get pinned.12700 is still the line in the sand. I'm looking for a pullback to the yearly Pivot point at 11836 in the next month or two.

Friday, May 11, 2012

IBM YH4 to YH3

The high this year on IBM was at the yearly Camarilla H4 pivot point(powder blue line H4). IBM then fell down to retest the yearly H3 pivot point(powder blue line H3). Market makers push price around from pivot point to pivot point.

Thursday, May 10, 2012

Gold Futs on monthly S2

June Gold futures is finding some short term support on the monthly S2 pivot point at $1581. Look for a bounce back to $1620 or so. If not look for MS3 pivot at $1551.

Demarks monthly pivots in control

Tom Demarks monthly pivot points(orange lines DMH/DML) have defined the high and the low for the month so far on the S&P emini futures. Look for a bounce here or more sideways consolidation.

Tuesday, May 8, 2012

S&P Camarilla YH4 to YH3 pivot points

The Camarilla yearly H4(YH4) pivot point was the high so far this year. We should pullback to the yearly H3(YH3) pivot point at 1339.


Since the yearly R1 pivot point(YR1) is resistance(13310), will we go down the the yearly pivot point(Ypp) at 11836?  My guess is yes, but not this month. Maybe by mid June?  A close below 12700 and we drop us to the monthly S2 pivot at 12445 this month.

Saturday, May 5, 2012

12700 needs to hold

12700 is the line in the sand. A close below 12700 and we'll fall to 12445(Ms2) and then to the yearly Pivot point at 11836.

Friday, May 4, 2012

Ford 1000 day moving average

Ford has been trading between the 500 day and 1000 day moving averages. Last October it bounced off the 1000 sma. $9.75 is where the 1000 sma is at now. The 1000 sma is the same as the 200 sma on a weekly chart. That should be support again.

Apple not looking good

Apple looks like it is about to roll over to the downside. It is having a problem finding buyers on the 50 day moving average. Tom Demark's monthly low pivot point is where Apple found support in April(see earlier posts below). This week it is testing the new(May) Demark's monthly low pivot(DML) at $579. Will that be the low again? 

The monthly pivot / 20 day at $595 is now resistance and the monthly S1 pivot point at $545 is next support if $579 breaks. There are open gap's at $562 and $545 that need filling.

Thursday, May 3, 2012

Yearly R1 pivot point is still da boss

The Dow cannot close over the yearly R1 pivot point. Market makers and Brokers are big time sellers there. I think we pullback to 13k and fill some open gaps.

Look out below.... Joe!

This week, we filled some open gaps(1412) on the retest of the head and shoulders pattern. It looks like a failure and we should go lower. Probably back to the 1360 neckline before heading lower.

Come May and go AWAY!

Tuesday, May 1, 2012

Natty looking bullish

Monthly chart of Natgas is looking bullish off the Camarilla L4 yearly pivot point.