Make sure you jump aboard!
What’s that, your leg hurts? Well, you will miss out…
I do apologise. I forgot to paste this onto my blog after sending out to readers of my Profit Machine list on Wednesday 17th Feb.
If you want to be on that list, please go to; http://www.fixedoddssuccess.com the sign-up part for the PM is on the left-hand side of the page.
Now, today’s (wed’s) BLOG!
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One thing I love is action, but being in-active can be frustrating…
However, during my years of trading, I now know it only means that the build up to the next flurry of trades is only around the corner.
The longer the quiet spell, the wetter the flood when the trades pour in afterwards. I believe now that the rain has started!
The markets have not sold off like I originally thought they might, although they will eventually, the spurt higher could trigger Low No touches for at least a week.
Today, on Tuesday 16th Feb, the FTSE100 made it ABOVE the 20-day MA.
Regarding the Dow, we need to see action just over 10310 for there to be an overall renewed bullish consensus/
On the S&P baby, we really need to shift up through 1103 for the trade to be activated. If we see a slide back, I will recommend trades for this as we move forward next week.
For the £/$, I see a test of 1.59 very soon. This is the 20-day MA level (on a daily basis for the chart), if we see the market reach 1.61 then it is low no touches.
However I think this will hit resistance at the high 1.59’s, so I expect a drop below 1.55 in the coming weeks. Again, as you see 1.54, get in on the HIGH No Touch side.
Near term bullish activity is inevitable after medium term support held firm at 1.55.
The last time this crucial level was seen, was way back through the 3rd week of May.
This bullish path should see the rise up through 1.59 en route to the 20-day MA.
The trend is lower for the £/$, so I expect 1.59 to act as extreme resistance if indeed it comes in to play.
This is where the market sold off rapidly through the 4th and 5th Feb, plus it is the level that is settled just below the 20-day MA
I am not buying the market now. However, I am looking to short this after the next flurry higher up to the 1.58/1.59 zone.
If by the next meeting the Fed show any willingness to tighten rates through the coming months or PPI and CPI data show upstanding surprises, then the wobbly S&P 500 could will break lower thus sending the US dollar higher.
I will be in touch on the weekend with a special update on trading Ranges. There have been some questions regarding range trading of late.
Just to clear up, there are no Range opportunities right now. That is all you need to know on that, but there could be soon… With several markets!
Either way, another week or so needs to pass before we even think of any.
Digest this today and be ready for more on the weekend!
I think every Wednesday is now good for an update. Splits the week perfectly!
Until the end of week…
Matt $haw
www.fixedoddssuccess.com
P.S. Do you or your company make profits exceeding 300k per year? If so, get in touch and I may be able to slash your tax bill by 2/3rds.
Email: fixedoddstrader@aol.com NOW
P.P.S. If you also know anyone with 1m Euro, who would like to earn 5-6% per month guaranteed on that capital, please also email me urgently! fixedoddstrader@aol.com
