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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.

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:

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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.

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:

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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.

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:

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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
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:

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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.

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:

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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.

0705.ET
World Markets are slightly mixed and the US is Down.
US Markets/Futures are Up right now.
Precious Metals are Down big and the US-Dollar is Up big right now.
QQQQ/SPY are currently Trading at 44.11 / 110.92
QQQQ Resistance is at  44.50, then 44.68, then 44.92
QQQQ Support is at  44.14, then 43.80, then 43.40, then 43.17, then 42.8x, then 42.3x
SPX key Pivot Level = 1093 . . . see recent AMC Commentaries for more details.

There are Big Economic Events out today starting at 0830.ET … the news will drive prices today .. Big time!

I expect the Markets to stay in their recent Rectangle Range I’ve been Charting for you . . . without any big breakouts .. unless we get Big surprises from the News out today. . . when entering Trades, wait for pullbacks (Down or Up) in order to get onto a missed Trend .. don’t just jump on a sailing boat or a moving train .. let it come back to you some and pause .. looking for that Reversal Signal we teach about.
Be  sure to check back here tonight for my Commentary on today’s action.

AMC Commentary [protect]

A nice Drop today Down to our second Support level listed above this morning . . . I Opened some Feb-$46 Call positions for an expected Bounce Up tomorrow. … plus I still have my Feb/Jan Put spread with Profits showing.

I will be on the road all day tomorrow and will not be Posting tomorrow night. I will be hitting the road around Noon.ET, so I’ll post in the morning and Trade a little before leaving . . . I will be on Vacation for 2-weeks, but will be monitoring the action and Posting here most every night, but probably not much in the morning . . . PLUS, with lower Holiday Volume bound to hit the Markets, there won’t be much to say in the morning except, watch for News Events.

1 – the 60-min Chart shows the “within Range” action today . . and the indicators show we’re Short-Term Over-Sold … probably a small  Bounce sometime tomorrow:

2 – today’s action show’s how nice it was to predict it using this “longer term” View . . the basic indicators were showing weakness in the Daily action and warned us not to get too Bullish .. even as there were Big Up days:

3 – the warnings were given also by the inability of Up action to break out higher from the Range . . . R1 was as far as she ever got on a Closing basis:

4 – zooming out some even showed the weakness of recent action . . at the same time, we shouldn’t get too Bearish either:

5 – QQQQ Long-Term Pivots . . . and the Range:

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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.

0725.ET
World Markets are mixed and US Markets/Futures are Down slightly right now.
Japan is Down slightly.
QQQQ/SPY are currently Trading at 44.44 / 111.48
QQQQ Resistance is at  44.50, then 44.68, then 44.92
QQQQ Support is at  44.14, then 43.80, then 43.40, then 43.17, then 42.8x, then 42.3x
SPX key Pivot Level = 1093 . . . see recent AMC Commentaries for more details.

There are Big Economic Events out today starting at 0745.ET … the news will drive prices today.

Precious Metals are Down some and  the US-Dollar is Up big right now.

In general, I expect the Markets to stay in their recent holding pattern without any big breakouts .. unless we get Big surprises from the News out today . . . I am waiting for a breakout before loading up in my positions.
Be  sure to check back here tonight for my Commentary on today’s action.

AMC Commentary [protect]

A very nice day .. Bouncing between our listed Support and Resistance levels (44.14/44.68) . . . I took the opportunity to do some QQQQ Put-option Trading . . .

1 – here’s my 5-min QQQQ Trading Chart . . . playing from one high-Volume CCI extreme to the other . . . I actually Opened a Calendar Spread … Buying the Feb-$43 Put on the first Signal and Selling Short the Jan-$43 Put on the second Signal . . . I will do the same with a Call Spread probably tomorrow or Thursday.  My aim is to Open positions that will make money from the lower Volatility environment we’re in . . . collecting Premium on the Short options that are covered by my Long options . . . when January expiration comes, I’ll have bought back the Short options at cheaper prices (hopefully worthless) and still be Long Feb options to make money on or sell Short Feb options against them to collect premium again. I will write more about this as time goes by on this position:

2 – the Daily QQQQ just to put everything into perspective . . . QQQQ still hasn’t gone anywhere … still between those two Long-Term Pivots:

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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.

0720.ET
World Markets are Up good and US Markets/Futures are Up slightly right now.
QQQQ/SPY are currently Trading at 44.52 / 111.20
QQQQ Resistance is at   44.50, then 44.68, then 44.92
QQQQ Support is at 44.14, then 43.80, then 43.40, then 43.17, then 42.8x, then 42.3x
SPX key Pivot Level = 1093 . . . see recent AMC Commentaries for more details.

There are Big Economic Events out today starting at 0830.ET . . be sure to watch the action around these events.

Precious Metals are Up Big and  the US-Dollar is Down slightly right now.

Action today will be totally driven in the morning by the 0830.ET Economic Reports . . and then manipulated by Big Money thereafter (as usual).  . . . In general, I expect the Markets to stay in their recent holding pattern without any big breakouts . . . unless any of the 0830.ET News is surprisingly good.
Be  sure to check back here tonight for my Commentary on today’s action.

AMC Commentary [protect]

QQQQ did stay within its recent Range . . actually not doing much today besides Closing the Gap left after yesterday’s action . . . I will, again, provide Weekend Analysis that now includes the results of this past week in it.

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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.

0640.ET
Far East Markets are Down slightly, European Markets are Up-Mixed some, and the US Markets/Futures are Up slightly right now.
QQQQ/SPY are currently Trading at 44.24 / 110.47
QQQQ Resistance is at  44.14, then 44.50, then 44.68, then 44.92
QQQQ Support is at 43.80, then 43.40, then 43.17, then 42.8x, then 42.3x
SPX key Pivot Level = 1093 . . . see recent AMC Commentaries for more details.

Action today will be totally driven in the morning by the 0830.ET Economic Reports . . and then manipulated by Big Money thereafter (as usual).
Be  sure to check back here tonight for my Commentary on today’s action.

There are Big Economic Events out today starting at 0830.ET . . be sure to watch the action around these events.

Precious Metals are Up slightly and  the US-Dollar is Down slightly right now.

AMC Commentary [protect]

A 0.5% move Up today in QQQQ . . but still well within our recent Range . . . after that Big Gap Up Open, I received a VVST/GOM Signal to Open a Down position . . . I used QQQQ Dec-$44 PUT Options as my vehicle and made over 10% today . . . I Profited on a Down move during an Up day … that’s what I Love about my Trading System!

1 – the Trade .. using the 5-min Chart . . . I use the 1-min Chart for pre-Alerts, and then 2-, 3-, and 5-min Charts to monitor the move and make Add/Exit decisions:

2 – this Daily QQQQ Chart shows the overall action of today .. well within the upper part of the month-long Range . . leaving a Bearish candle . . . take note of all of the major & minor support levels . . . as well as overhead Resistances should we get an Up-move:

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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.

0715.ET
Far East Markets are Down, European Markets are Mixed, and the US Markets/Futures are Up some right now.
QQQQ/SPY are currently Trading at 43.82 / 110.08
QQQQ Resistance is at  43.80, then 44.14, then 44.50, then 44.68, then 44.92
QQQQ Support is at 43.40, then 43.17, then 42.8x, then 42.3x
See recent AMC Commentaries for more details.

I expect an Up Open today . . . retesting Resistance .. especially around 44 that was previous Support.
Be  sure to check back here tonight for my Commentary on today’s action.

There are some Economic Events out today starting at 0700.ET . . but overall a light news day.

Precious Metals are Flat and  the US-Dollar is Down right now.

AMC Commentary [protect]

QQQQ did go Up today and retest previous Support around 44 .. Closing just above it . . . BUT, with all of the Down then Up action, QQQQ still stayed nicely with the 1-month Range we’ve been showing you.

1 – the 60-min QQQQ Chart shows the Range nicely . . . there were some minor Volume spikes (look on a 1- or 5- minute Chart) during the Open that Signaled the Reversal Up, but it was not high enough to risk a position while hitting the bottom of the Range:

2 – a Big day . . and yet it ended Up only retracing the previous days’ Down move and hitting that pink line which is becoming more Major as time goes on:

3 -  this Daily S&P-500 (SPX) Chart shows how she’s moving further away from that green Up-trend line . . . that 55-ma level will be key to Hold for the Trend to not turn Bearish:

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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.

0740.ET
World Markets are Mixed-Flat and the US Markets/Futures are Down some right now.
QQQQ/SPY are currently Trading at 44.04 / 110.87
QQQQ Resistance is at  44.14, then 44.50, then 44.68, then 44.92
QQQQ Support is at 43.80, then 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x

Still waiting for a Breakout of the current Trading Range I Charted about over the weekend.
Be  sure to check back here tonight for my Commentary on today’s action.

There are some Economic Events out today starting at 1100.ET.

Precious Metals are Down and  the US-Dollar is Up  right now.

AMC Commentary [protect]

Another day in the Range . . . no break-out and no reason to enter a position . . Up/Down/Up for a slightly Down day, bit still in the Range.

1 – QQQQ has been distributing for a month now . . Range-bound and very confused as to which way to go:

2 – zooming out and looking at the two LT Pivot-Lines that are the Range-bounds for the last two months . . . I am showing you where they emanated from .. over a year ago!

3 – the SPX LT Pivot Levels:

4 – the Nikkei Index has Bounced back Strongly . . now retesting the break-Down neckline:

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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.

0645.ET
Asia & Australia Markets are Up some while European and US Markets are Down some.
QQQQ/SPY are currently Trading at 44.03 / 111.09
QQQQ Resistance is at  44.14, then 44.68, then 44.92
QQQQ Support is at 43.80, then 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x

Use these levels to look for turn Signals and Targets .. or the lack of them for continued follow-through.
I will be looking for follow-through this morning . . seeing how the Markets act at initial Resistance as a gauge for its Strength . . . still waiting for a Victor in the current Bull/Bear Battle at these key levels.
Be  sure to check back here tonight for my Commentary on today’s action.

There are some Economic Events out today starting at 0700.ET.

Precious Metals are Up and  the US-Dollar is Up  right now .. see my Annotated Chart (#5) last night about the US-Dollar.

AMC Commentary [protect]

Another lack-luster day . . . a Very Very Short-Term opportunity there was, but with the Wildness and lack of Trend .. it was best to just watch . . . here are some Charts for Trading the rest of this week:

1 – this is a 60-min QQQQ Chart . . . as I posted last night, we have had Islands every few days for the past two weeks . . the next one should be Down .. probably into that Gap:

2 – on this QQQQ Daily Chart,  look at how nicely those Monthly Pivot Levels work .. this view shows some other Gaps we may fill before and after the one shown above . . there are lots below to choose from:

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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
World Markets are Up Big and US Markets are Up strongly right now.
QQQQ/SPY are currently Trading at 43.34/ 109.45
QQQQ Resistance is at  43.61, then 43.80, then 44.14, then 44.68, then 44.92
QQQQ Support is at 43.40, then 43.17, then 42.8x, then 42.3x

Use these levels to look for turn Signals and Targets .. or the lack of them for continued follow-through.
I am leery of the strong Open we are looking to have now . . . make sure there is follow-through higher and a breaking of Resistance that Holds before loading up on Long Up positions. … as a Bear, I will be looking for weakness during the Open to Short … but will not fight continued Strength in order to do it.
Be  sure to check back here tonight for my Commentary on today’s action.

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

Precious Metals are Up over 1% and  the US-Dollar is Down right now.

AMC Commentary [protect]

Another wild day .. another Island .. another stop at the Range Top . . . neither Bulls nor Bears are winning over the past two months . . .

1 – the 15-min Chart shows the many Islands over the past few weeks as well as the Range that QQQQ has been in:

2 -the Islands/Gaps/Range  on the Daily Chart .. look how perfect today’s Gap was! . . .

3 – QQQQ Daily divergence .. with Support Levels:

4 – a bigger-picture QQQQ Daily view showing the Wildness and important levels:

5 – one of our Helper Charts, the USD/VIX ratio, shows just how Wild the Markets have gotten . . after such a long and nicely defined Channel they were in:

6 – this Daily SPX Chart shows the defined Channel it’s fallen below as well as some close Supports:

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