Thursday, June 30, 2011

6/30 9:05am

You will not need to use Google to access the commentary when I cut over to e-mail subscription.   The commentary and intraday posts will be delivered via e-mail.  Your e-mail program should allow you to set up alerts when any of my e-mails arrive.

I have targets of 2312 and 2316 on ND/NQ futures and intend to short futures at 2312 and buy QID at 2316.  

There are 2 fail-safes in case the market does not perform to expectation and declines instead.  First the DJ futures 10-minute, 76-unit M/A has a lower envelope of 37 points, so any trade 38 points below the M/A will be a sell signal.  M/A is currently at 12,233 so the signal would be at 12,195 and lower (blue line on chart).

A larger signal will be issued by ND/NQ futures 15-minute, 82-unit M/A minus 10 points.  Currently at 2294.60, this would generate a signal at 2284.60 or lower (green line on chart below):
The dollar is poised for a 2-month rally once the stock market peaks.  I'll buy another 2% EUO at ND futures 2312.

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