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Marc Eckelberry : 7/24/2006 2:34:22 AM

Take +4 partial now and let the remaining run. Those of you who will stay up all night (I'm not), exit at 1468.50, then play the drop. I am shooting for 1475 initial.

Marc Eckelberry : 7/24/2006 2:32:16 AM

NQ Exit Point Alert
Long 1461.50, stop 1459.

Marc Eckelberry : 7/24/2006 2:31:57 AM

NQ Exit Point Alert
Cancel sell to close

Marc Eckelberry : 7/24/2006 2:21:54 AM

NQ Exit Point Alert
Long 1461.50, stop 1459, sell to close at 1469.50.

Marc Eckelberry : 7/24/2006 12:34:31 AM

NQ Exit Point Alert -
Long 1461.50, raise stop to 1459.

Marc Eckelberry : 7/24/2006 12:30:31 AM

As those of you who follow my overnight trades know, we often hit a bullish bias early on when there is no solid bad news after a weekend break. It is a short term play and not indicative of anything. But as many shorts holding overnight will attest, they love to run those stops of all who were short Friday.

Marc Eckelberry : 7/24/2006 12:28:45 AM

NQ chart and another reason I entered the trade: Link

Keene Little : 7/23/2006 11:57:28 PM

I've been using two SPX weekly charts to track the progress towards a resolution of the question about the longer term direction of the market. To me the trend line along the lows from August 2004 is critical because it's the bottom of a large ascending wedge and is a big reason I'm bearish longer term for equities. The EW pattern is set up for the next leg down in a secular bear market. This is one of the weekly charts showing a little closer view of the trend line. Link

The question in my mind is whether we're going to break down now or after a choppy summer rally. SPX briefly broke below the trend line in June but bounced back up for a weekly close above the line. The last two weeks also dipped below and on Friday it closed right on the line (at 1240). Moving in a little closer with this 30-min chart you can see how traders are using this trend line. Link

After breaking below it and finding it to be resistance last week, until the Wednesday zoom climb back on top, it then pulled back to it on Friday. Another drop below 1240 (cash) could spell trouble for the bulls, especially since the pullback has already achieved a 62% retracement of last week's strong rally. It's a must hold here for the bulls because if they don't then the more immediately bearish scenario comes into play.

Marc Eckelberry : 7/23/2006 11:55:15 PM

Primary exit target will be 1469. Secondary will be 1476 and a possible short entry. Right now, I like the idea of going long in the area that was so supportive last week. Remember how hard bears tried to break 1460 on Friday? Let's give it a try.

Marc Eckelberry : 7/23/2006 11:53:35 PM

NQ Entry Point Alert -
Long 1461.50, stop 1458.50.

Marc Eckelberry : 7/23/2006 11:52:19 PM

My guess is we will hit confluence s2 and weekly s1 at 1443 tomorrow as a low. But we could first catch a bid. You have 2 choices: an order to buy at 1444, stop 1440, or get the bid overnight, exit on overbought 10 mn and short into 1443. The other scenario is we never even get to drop Tuesday lows of 1457 and the run starts again. I prefer to try nibbling in case that happens, then raise the stop and let the market decide.

Marc Eckelberry : 7/23/2006 11:51:55 PM

AMD/ATYT deal could be supportive in tech sector. Oil down as well as gold. We usually get an overnight bid in NQ if there is no bad news and Sony could come in withg some pretty news. This session will be for overnight traders only.

Keene Little : 7/23/2006 10:42:35 PM

Monday's pivot tables: Link and Link

OI Technical Staff : 7/23/2006 9:59:59 PM

The Market Monitor has been archived. You may view it and any previous days here: Link

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Jeff Bailey : 7/23/2006 9:28:27 PM

YM Pivot Matrix found at this Link

Jeff Bailey : 7/23/2006 9:12:02 PM

Index Pivot Matrix for Monday at this Link

Jeff Bailey : 7/23/2006 8:12:29 PM

Current OPEN MM Profiles that I've made at this Link

Month-to-date Trade Blotter of CLOSED trades found at this Link

Jeff Bailey : 7/23/2006 7:38:38 PM

Closing Internals found at this Link

Jeff Bailey : 7/23/2006 7:16:18 PM

Closing U.S. Market Watch found at this Link

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