ACTS Money Machine

Black Monday: Ancient History Or Imminent Future?

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0810.ET
Far East Markets are Down Big .. European and US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 42.01 / 106.29
QQQQ Resistance is at  42.20-42.30, then 42.50, then 42.70
QQQQ Support is at 41.90-41.70, then 41.50, then 41.30, then 40.7x – 40.6x, then 40.3x

There are Big Economic Events out this morning starting at 0830.ET . . so be careful!

I expect QQQQ to start out slightly lower today (depending on the Economic News at 0830.ET) and then Trade within the Range of the last two days . . . a breakout (and Hold) out of that Range in either direction would be important for determining the next direction. I am anticipating a lower Volume day and will not be Trading today . . . I’m going to enjoy the day with my family.

For those of you interested in following good Elliott Wave articles, here is an excellent feed to monitor:

AMC Commentary

Well, I was wrong about Volume and magnitude of today’s move . . .
but will probably be found right about today’s break-out determining the next Trend (Down).
Here are my multitude of Annotated Charts with Commentary going into this weekend:

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Easy Forex Candlesticks!

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
Far East Markets are Down Big .. European and US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 41.51 / 104.80
QQQQ Resistance is at 41.90, then 42.20-42.30, then 42.50, then 42.70
QQQQ Support is at 40.7x – 40.6x, then 40.3x

There are Big Economic Events out this morning starting at 0830.ET . . so be careful!

My Trading Plan for today is shaping up just as I Posted last night in my AMC Commentary . . . the only thing that will change it are the Big Economic Events due out this morning at 0830.ET

AMC Commentary

The Market Bounced today as I predicted last night . . .

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Gold: What’s REALLY Behind the Record Rise, Bull or Bubble?

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0720.ET
World Markets are Down Big and US Markets/Futures are Down slightly.
QQQQ/SPY are currently Trading at 42.25 / 105.95
QQQQ Resistance is at 42.4x, then 42.70 – 42.90, then 43.15-43.30, then 43.70 – 43.80
QQQQ Support is at 42.20, then 41.85, then 41.7x, then 41.6x

There are Big Economic Events out this morning starting at 0700.ET and then 0830.ET . . pay attention to them and be careful!

I’ll be looking to Bank Profits on my Short Microsoft (MSFT) as well today .. like I did very Profitably last week. . . as always, I’ve used PUT options to accomplish my Down position (Shorting).

I see a weak Opening this morning, but always watch out, using our Model/System, for a Bounce . . . I am Bearish over the near-term, but the masses are still Bullish and can rally the markets quickly on dips if they see fit . . . and the Smart Money is all too happy to sell to them at slightly higher levels.

Don’t forget to check out my Long-Term Charts and Vote for me at the bottom of the page.

AMC Commentary

Now that was a nice day! . . . I’ve been calling for a Top during this entire recent consolidation .. look back at most of my Annotated Charts for the past two weeks. . . Anyway, now that we had a Big Down day, what’s next . . .

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Death of the Dollar, Again: Before You Mourn, See This Chart
By Nico Isaac

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
Far East Markets are Down over 1% .. European Markets are slightly-Mixed .. US Markets/Futures are Up slightly.
Without considering Economic Events due out, this shapes up nicely for a small Up Open and Shorting opportunity . . but watch and see how the Market unfolds first.
QQQQ/SPY are currently Trading at 43.07 / 107.30
QQQQ Resistance is at 43.30, then 43.70 – 43.80
QQQQ Support is at 42.80 – 42.90, then 42.70, then 42.4x

There are Big Economic Events out this morning starting at 0745.ET . . pay attention to them and be careful!

I’ll be looking to Short Microsoft (MSFT) as well today .. like I did very Profitably last week . . . 28.50 is a key Support level . . I’ll be looking to Buy PUT Options on an Up Open that stalls before breaking above 28.80

QQQQ can be Traded in a similar fashion with 43.30 being key overhead Resistance and 42.80 as the Support level that Bears would want to take out.

AMC Commentary

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Forex Formula .. 15-mins. per day!
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How to Prepare for the Coming Crash and Preserve Your Wealth
by Susan Walker

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0700.ET
World Markets are slightly mixed and US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 43.33 / 108.60
QQQQ Resistance is at 43.30, then 43.70 – 43.80
QQQQ Support is at 42.80 – 42.90, then 42.70, then 42.4x

There is not much in the way of Economic Events out today . . . just some Bill Auctions . . . so be careful for low-Volume drift higher without much help from Technical Analysis.  MRVL Upped guidance this morning on a good outlook for chips . . . TLAB announces earnings at BMO this morning.

As is usual with a low-Volume day, I generally recommend just watching . . . no real Day-Trading opportunities . . for Swing- and Longer-Term Traders: today is a good day to adjust your positions, but not really enter new ones.

AMC Commentary 

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Exploit the Market with Swing Trading !!
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Earnings: Is That REALLY What’s Driving The DJIA Higher?

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0735.ET
World Markets are mixed and US Markets/Futures are slightly Up.
QQQQ/SPY are currently Trading at 43.50 / 109.67
QQQQ Resistance and Support: use the values shown in the S&R boxes on the Annotated Charts I posted in my AMC Commentary last night and before.

Check out the Economic Events due out today . . . there is only the Existing Home Sales at 1000.ET along with some Fed speaking .. esp. Bernanke at 0830.ET.

The Plan is the same as it has been most of this week: watch the 43.00 lower boundary area . . . . should that fall, expect some further weakness today . . . allow for some Trading Down to the 42.95 area before getting too Bearish . . . and remember, if you miss the first Drop Down, there will be a rebound and test afterward to enter on.

AMC Commentary

oh yes! . . it was a great! Trading day for me  . . . . I didn’t really even watch QQQQ much today . . . I traded Microsoft (MSFT) by Selling the News! … Microsoft Released their Quarterly Earnings this morning BMO and beat expectations, but came in with lower Revenue than last year . . this piqued my interest as that told me that the EPS numbers were probably inflated by accounting, but lower Revenue indicated the reality was not great . . . and then their guidance left little to be admired . . . and I saw BMO that they were Up 10%! . . . so here is how I Traded Microsoft (MSFT) today:

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THE Guide to Swing Trading

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Are These 4 Emotional Pitfalls Sabotaging Your Trading?
By Jeffrey Kennedy

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0800.ET
World and US Markets/Futures are Down.
QQQQ/SPY are currently Trading at 43.09 / 108.19
QQQQ Resistance and Support: use the values shown in the S&R boxes on the Annotated Charts I posted in my AMC Commentary last night and before.

Check out the Economic Events due out today . . . be sure to remember their times and include them in your Trading.

Watch the 43.00 lower boundary area today. . . . should that fall, expect some further weakness today . . . allow for some Trading Down to the 42.95 area before getting too Bearish . . . and remember, if you miss the first Drop Down, there will be a rebound and test afterward to enter on.

AMC Commentary 

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Stock Assault Software

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Gold: What’s REALLY Behind the Record Rise, Bull or Bubble?
By Nico Isaac

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

745.ET
World and US Markets/Futures are Down.
QQQQ/SPY are currently Trading at 43.00 / 108.65
QQQQ Resistance and  Support: use the values shown in the S&R boxes on the Annotated Charts I posted in my AMC Commentary last night and before.

Check out the Economic Events due out today . . . be sure to remember their times and include them in your Trading.

Watch the 43.00 lower boundary area today. . . . should that fall, expect some further weakness today . . . allow for some Trading Down to the 42.95 area before getting too Bearish . . . and remember, if you miss the first Drop Down, there will be a rebound and test afterward to enter on.

AMC Commentary . . later tonight . .

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The Bounce Is Aging, But The Depression Is Young
by Bob Prechter

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
Far East Markets are Up some while European Markets are Down some. US Markets/Futures are Up some.
QQQQ/SPY are currently Trading at 43.50 / 109.97
QQQQ Resistance and  Support: use the values shown in the S&R boxes on the Annotated Charts I posted in my AMC Commentary last night.

There are Big Economic Events out today starting at 0745.ET . . . watch out for lots of Volatility.

With Apple’s (AAPL) “blow-out” numbers last night, QQQQ is moving Up in Pre-Market now . . . let’s see how the BMO Economic Reports affect that. Watch for a break-out of the Range I’ve been Posting about … or a failure to do so . . . if she can’t break-out today with Apple’s Report last night, I would look at that as Bearish . . . if she does break-out higher and Holds above the Range, the Trend into year’s end should be Up.

AMC Commentary

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Option Income System

Stocks that Soar !!

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Spot a Pattern You Recognize: One Simple Tip for Becoming a Better Trader

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0720.ET
World Markets are Up over 1%, except for Australia and Japan are Down somewhat . . . US Markets/Futures are Up nicely.
QQQQ/SPY are currently Trading at 42.94 / 109.32
QQQQ Resistance and  Support: use the values shown on the Annotated Charts I posted over the Weekend and Friday night in my AMC Commentary.

There are no Big Economic Events out today . . . just the Housing Market Index and some Bill Auctions at 1300.ET . . . the lack of news will allow the Market to be manipulated easier .. especially if the Volume is lower than usual . . have several reasons to be in a position .. not just a Reversal Signal . . . Trade with the direction of your reasons.

Even with the morning’s Up in QQQQ, it is Trading below Resistance and recent higher levels . . . so don’t jump on the Bull-train just yet . . . today’s lack of Economic News and probable low-Volume could add to a false sense of Bullishness . . . but wait for the levels and strategies I have been pointing out in my AMC Commentaries. .. and don’t forget, Apple (AAPL) reports After the Bell.

AMC Commentary 

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