ACTS Money Machine

New Year: New Economic Boom? Why 2010 Should Be One to Remember

Elliott Wave International’s latest free report puts 2010 into perspective like no other. The Most Important Investment Report You’ll Read in 2010 is a must-read for all independent-minded investors. The 13-page report is available for free download now. Learn more here.

After a Wild Week, here are my thoughts about Trading this coming week . . . [protect]

1 – on a close-up View, we can see that QQQQ has broken Down back into the 6-week Range of last month . . if Bears are winning, the Gap-filling Target of 42.50 should be in sight:

2 – my new Volatility/MA indicator worked quite well . . . she’s now pointing to a Bounce . . . unless the Bears have really taken over:

3 -  even my new Cloud Chart has proven worthy . . . QQQQ stopped the Drop right at the Top of the Cloud … a good Support Area . . . look for a possible Drop within the Cloud before a Bounce . . . if the Bulls are still in ultimate control, QQQQ will not Drop through the Bottom of the Cloud:

4 -  the Regression Channels I drew many months ago have held up well . . . we’re just now seeing some weakness . . . let’s monitor this Chart to see if we get further Short-Term Weakness below the bottom pink line:

5 -  this really Long-Term Chart I drew ages ago is really amazing . . . it will soon tell us who the winner is .. Bulls or Bears:

6 – some S&P-500 Fib Retracements . . . we have interestingly reached the 50% retracement Up of our recent Drop Down . . . usually a good place to stop and Reverse for a little bit:

7 -  here is an Elliott Wave Chart that I drew a few months ago . . . QQQQ action overshot the 61.8% Reversal a little bit, but we might finally be getting Wave-3 Down now . . . I’m looking for a Drop back below the 61.8% Level to confirm a Bigger Reversal:

8 – this is an interesting Elliott Wave International Chart that shows the incredible similarities between the DOW action of the past two years versus the DOW action during the start of the Great Depression . . . even that approximate 50% retracement is the same!:

My Equity strategy will be to wait a day or two and see a Bounce or follow-through Down . . . then I’ll jump on some appropriate stocks/indexes.

My Options strategy is to have positions that will Profit from a move to either side . . . maybe some Calendar Spreads on both sides where I’m monitoring closely and taking Profits as they come while adjusting the positions Up/Down.

[/protect]

Good Luck !!!

Best Penny-Stock System!

Q&A With Robert Prechter: Why Technical Analysis Beats Out Fundamental Analysis
by Elliott Wave International

BMO Commentary

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

0645.ET
World Markets are Mixed from Up Big to Down Big and US Markets/Futures are mostly Down now.
QQQQ/SPY are currently Trading at 45.85 / 113.75
The US-Dollar is Up Big … almost to 79! (negative for stocks)

Yesterday we reached the Bottom of the Range I show in last night’s Charts . . . today it’s looking like, so far, that we’ll Open Lower and I’ll look for a retest of the Bottom of that Range .. then see if we get a Shorting Signal .. or .. if she Bounces in a Bullish move Up … at which point I’ll open an Up-position.

. . . BUT, we still have Big Reports to come Before the Market Opens . . .

There are Big Economic Events out all morning today .. starting at 0830.ET.

0755.ET Update . . . US Futures have been rising some since my previous post at 0645.ET and are now slightly positive . . . I anticipate that the BMO Economic Reports as well as Goldman Sachs Earnings Release at 0800.ET will drive the Markets.

AMC Commentary  [protect]

She sure did come Down and retest the bottom of the Range! . . . and then broke Down Hard and then Bounced to Close right at the bottom of the Range . . . I’m looking for a Bounce tomorrow.

1 – the 5-min QQQQ Chart shows that the Drop was so Big and so Fast and there was no Signal .. that you just had to stand back and watch . . . until it hit the bottom of the range . . . then look at the Signal that came out . . . pretty Strong for a Reversal:

2 -this Daily QQQQ Chart shows the reach Down to Support as well:

3 – the new Volatility indicator worked well . . with Volume in agreement . . . I usually like to add Chaikin Money Flow to it as well:

4 -  this Daily QQQQ OE Pivots Chart shows how Strong my lines are .. able to stop fast moving stocks even when dashed!

5 – amazing! . . . even the old long-term ones are Powerful too:

6 – the S&P-500 (SPX) 60-min Chart shows the break-down from the Range we’ve been following . . . notice how nicely it went Down to the previous Range . . . it’s important to keep your old drawn lines . . . or at least be able to scroll Down and look at all of my old Annotated Charts on this Blog!

[/protect]

Good Luck tomorrow . . it should be a Wild one!

New Year: New Economic Boom? Why 2010 Should Be One to Remember

BMO Commentary

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

0808.ET
World and US Markets/Futures are mostly Down now.
QQQQ/SPY are currently Trading at 45.35/ 114.59
The US-Dollar is Up Big … well over 78!

Yesterday we reached the Top of the Range I show in last night’s Charts . . . today it’s looking like, so far, that we’ll go back Down . . . BUT, we still have Big Reports to come Before the Market Opens.

There are Big Economic Events out today .. especially at 0830.ET.

AMC Commentary [protect]

Quite a Down day today . . back to the bottom of our recently defined Range . . . tomorrow should bring us a move higher . . . if not, the Bears will start to come out in force!

1 – this 60-min QQQQ Chart shows how nicely she went right back Down to the bottom of the Range . . . after hitting the top perfectly and then hitting the bottom perfectly and then Bouncing!

2 – the Daily View using the Feb-OE Monthly Pivots shows the Topping/Bottoming action from a bigger picture . . still waiting for a breakout:

[/protect]

30-days to Wealth!

Earnings: Is That REALLY What’s Driving The DJIA Higher?
The idea of earnings driving the broad stock market is a myth.

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
World and US Markets/Futures are mostly Down now . . US Futures were Up Big late last night, but have come back Down to slightly below Unchanged. There are lots of financial institutions reporting Earnings this week (including today).
QQQQ/SPY are currently Trading at 45.83 / 113.40
The US-Dollar is Up nicely to over 77.50.

Read yesterday’s Weekend Analysis for Support/Resistance level guidance and what I expect to happen today and this week.

There are no big Economic Events out today.

AMC Commentary  [protect]

Just Up all day . . . I think mostly because the Health Care Plan may be defeated if Brown wins Massachusetts.

1 – the QQQQ Feb OE Monthly Pivots Chart shows how the today’s action fits within the Daily realm of things:

2 – the S&P-500 ($SPX) 60-min Chart from last night (updated) shows how price regained the Up-channel . . but was stopped again at the Range-Top (115x):

3 – the 60-min SPY Chart shows the same thing .. from the perspective of the MAs . . regaining them and stopped by the local Top:

Summary — so, still within the Range . . . tomorrow could be the break out higher . . . or Down again.

[/protect]

Trend-Riding System!

If Stocks Tank, Shouldn’t Gold Soar?
Large banks, pension funds, and gold bugs are become more infatuated with gold the more the economy weakens and stocks decline. But when you look at the facts, does gold really rise when stocks fall? Read More

BMO Commentary

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

0725.ET
World Markets are mostly Up while US Markets/Futures are currently Down slightly.
QQQQ/SPY are currently Trading at 46.30 / 114.63
The US-Dollar Up some .. over 77.0 right now.

There are very Big Economic Events out this morning starting (and especially) at 0830.ET

Opening Action and probably momentum for the rest of the day will be determined by the morning news.
See chart-1 from last night for January-OE Pivot-Levels = further Support/Resistance details.

AMC Commentary [protect]

Kind of a sideways day .. after less than spectacular Economic Reports out this morning . . no Trades today .. and tomorrow is OE day, so no Trading for me then either . . . Monday the US Markets are Closed .. I will be spending part of the weekend preparing/finalizing a new Income Generating Trading strategy and will begin Trading it on Tuesday . . . unless an amazing opportunity presents itself  tomorrow . . then I will Open a small position then.

Here are some worthy chart for today:

doh! … the WordPress Image-Import tool is giving me problems for the past two days . . . I’ll spend the weekend revamping this website as well !!

Here is a dump of the Annotated Charts I had planned:

1 – QQQQ indicators are looking weak as QQQQ tries to struggle higher … Short-Term Bearish:

2 -  SPY has definitely filled that Gap from two days ago . . but still has not made new highs:

3 – this is the S&P-500 (SPX) Long-Term Pivot-Levels Chart . . . it’s looking like 1161 might possibly be touched before falling . . if it can’t, then a bigger Downer should ensue . . . if it can, be looking for a break and Hold above it for the Bulls to continue to be in control:

[/protect]

Penny Stock Profits!

Why You Should Care About DJIA Priced in Gold
Of the many forward looking market indicators we at EWI employ, one of the most interesting tools (and least discussed in the financial media) is the DJIA priced in gold — “the real money” … Read More

BMO Commentary

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

0630.ET
World and US Markets/Futures are currently Down Big.
QQQQ/SPY are currently Trading at 46.02/ 113.88
The US-Dollar is Up 0.20% .. nicely above 77.0 right now.

There are Big Economic Event out this morning starting at 0745.ET. . . all BMO, these Reports will shape Trading today.

See chart-2 from last night for January-OE Pivot-Levels = Support/Resistance.

AMC Commentary [protect]

A surprisingly Down day today .. that held fairly Down into the Close . . . that could be read as Bearish, but look at the following:

1 -this 60-min S&P-500 Chart shows that today was a pull-back to a Strong Up-trend and then a Bounce . . it would be healthy & Bullish if it rallies higher tomorrow:

2 -the January Monthly OE Pivots once again show nice predictive power . . . the MACD indicator DID turn Down and the next lower Pivot-Level DID act like a great magnet (Target) . . . stopping the fall:

[/protect]

Hot Stock Newsletter!

How A Bear Can Be Bullish And Still Be Right

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 Up.
QQQQ/SPY are currently Trading at 46.63/ 115.02
The US-Dollar is Down 0.75% .. near 77.0 right now.

No Big Economic Event out this morning . . . watch out for a drift higher all day.

See chart-2 from January-6 Post for January-OE Pivot-Levels = Support/Resistance.

AMC Commentary [protect]

Well . . some of the actuality of the bad fundamentals of the global economy caught up today with real Stock-Market price movements . . and we were Down most of the day until moving back Up in the afternoon to lessen the losses.

1 – this 5-min QQQQ Chart shows how early action predicted the rest of the day . . the high-Volume bars just after 10:00 showed me where a bottom should be for the day . . . so it kept me from jumping into Down-positions on the big drop and had me looking to enter Up positions . . . though I just decided to wait until tomorrow morning .. when I best like to Trade (in the first hour of Trading):

2 -I am just re-posting this Daily QQQQ Chart of January OE Pivots originally Annotated a few days ago .. to show how “right on” those comments are and how things have played out . . . . we got our continued pinching to roll Down indicators and the continued Resistance of that R2 level . . . use that R2 level to decide whether to be a Bull or a Bear .. Closing above or below it respectively:

[/protect]

Every Other Day Diet!

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

How much can a trader learn from a quick glance at a chart? You may be surprised by the answer proposed in this example from analysts at Elliott Wave International. Read More.

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
World Markets are mixed +/- 0.3% . . US Futures are Down some.
QQQQ/SPY are currently Trading at 46.23 / 113.23
The US-Dollar is Up 0.25% .. over 78 right now.
See last night’s AMC Commentary for QQQQ Targets.

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

I am expecting some good employment numbers (like the Challenger ones already this morning) from ADP at 0830.ET and the Jobs Numbers on Friday. This should keep the Markets afloat and running higher . . but watch for the actual numbers before jumping in.

AMC Commentary . . later tonight . . [protect]

Some good action today . . finally getting some Down action which would be healthy for the overall Markets.
Today’s Annotated Charts:

1 – for the Day-Traders: some nice action to the Down-side with good VVST- and VST- Signals:

2 – here’s an updated-for-January Monthly Options Expiration Pivot-Levels . . . the move Up so far this OE Month has been fairly extreme . . hitting that 5% move Resistance:

3 – our Long-Term Pivot-Levels have been very important over the past year . . . notice how in the past three Trading Sessions, that next overhead Pivot-Level has been attacked each time, but never surpassed . . . should the breach of that level (46.53) not happen soon, I expect a fall Down to the previous one below . . and then we’ll watch again for which one is next:

[/protect]

Trading Short-Swings!

Prechter Stands Alone Again… He’s Done the Math
So Bob Prechter is bearish again. That may be no surprise to some, but recall that Prechter was about the only bull on February 23 of this year when he covered the short position he had recommended on July 17, 2007. That was nearly two years later and 800 points lower in the S&P. Read More.

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

0725.ET
Pacific Markets are Up big and European Markets are Mixed.
US Markets/Futures are Flat right now.
Precious Metals and Energies are Flat and the US-Dollar is Down slightly right now.
QQQQ / SPY are now Trading at: 46.42 / 113.30

There are Big Economic Events out today starting at 0745.ET

Be  sure to check back here tonight for my Commentary on today’s action.

AMC Commentary [protect]

A day of consolidation . . . Up, Down, Up .. to Close unchanged.  Premium on my Short January options decayed some more (more value to me) … while my Long February options decayed less (why I do Calendar spreads).

This Daily QQQQ Chart shows the lack of follow-through higher after Monday’s Big Up move . . . the CCI(13) turning Down early warns of a potential move Down for QQQQ . . maybe back Down to the red 8-ma line for starters .. and then possibly retesting the 45.50 area:

[/protect]

Traders Calculator!

More than 130 banks will have failed by the end of 2009. Is Your Bank Safe?

BMO Commentary

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

0725.ET
Pacific Markets are Up and European Markets are Up Big.
US Markets/Futures are Up big right now.
Precious Metals and Energies are Up big and the US-Dollar is Down right now.
QQQQ / SPY are now Trading at: 46.20 / 112.17

There are Big Economic Events out today starting at 1000.ET … the ISM Mfg. Index will drive prices this morning!

Happy New Year!
It will take me a few days to get back up to speed on Support/Resistance levels and QQQQ/SPY Analysis after the long Holiday.

Be  sure to check back here tonight for my Commentary on today’s action.

AMC Commentary [protect]

QQQQ stayed Up all day . . leaving a Gap below it from where it Opened . . . as seen in the Daily Chart below, QQQQ ran Up right near the next Long-Term Pivot-Level of 46.53 and went sideways . . . we’ll watch tomorrow for a fall of if it runs Up to the next level of 46.73:

[/protect]

Pro Trading System!

I was just looking over my recently posted Charts from the last week or two . . .

nice call here it turns out:

Individual Investors Have Jumped Into Another Fire

A Strong Up day today . . . let’s look at the bigger picture of where these two are at now: [protect]

1 – the QQQQ LT Pivot-Levels . . . we hit the next level perfectly today and Closed below it . . . Closing above it tomorrow would be very Bullish!

2 -  SPX is still within the current Range . . Closing right at the Top of it today .. keep watching this one:

[/protect]

Technical Analysis Lessons!

In today’s low-Volume, Holiday-week action .. QQQQ broke above the Top of the recent Range of the past 5- or 6- weeks. . . BUT, the Big question will be to watch for follow through tomorrow and the next day to see if QQQQ can continue higher or come back Down into the Range again:

Subscribers may continue reading for a more detailed Commentary: [protect]

the 60-min Chart clearly shows how QQQQ has advanced higher as I predicted last Thursday (12/17) .. and now slightly OverBought, it should come back Down to retest the breakout level around 44.50 . . . where it goes from there will be telling:

[/protect]