ACTS Money Machine

How A Bear Can Be Bullish And Still Be Right
By Nico Isaac

In recent months, Elliott Wave International President Bob Prechter has become something of a household name. In the final two days of August 2009 alone, Bob was mentioned by several news outlets from MarketWatch to the New York Times. The claim to his “fame”– 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 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

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Carb Rotation Diet . . . this is the one I used to lose 18-pounds in less than 1-month!

Prechter Stands Alone Again… He’s Done the Math
By Neil Beers

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.

0650.ET
World and US Markets are Up some right now.
QQQQ/SPY are currently Trading at 44.14/ 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.
Be  sure to check back here tonight for my Commentary on today’s action .. and a possible Weekend Analysis coming in a few days for Trading through the end of the year.

There are Big Economic Events out today starting at 0700.ET .. with the Big ones starting at 0830.ET . . so a lot can happen between now and the Open.

Metals and Energy Commodities are Up as  the US-Dollar is Down right now.

AMC Commentary 

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the Ultimate Trading System!

How a Kid With a Ruler Can Make a Million
A Lesson in Drawing and Using Trendlines
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.

0715.ET
World and US Markets are Up Big now.
QQQQ/SPY are currently Trading at 43.86/ 110.61
QQQQ Resistance is at 43.80, then 44.14, then 44.68, then 44.92
QQQQ Support is at 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x

Use these levels to look for turn Signals .. or the lack of them for continued follow-through.
Subscribers, read what I wrote over the weekend and look at the Annotated Charts I posted then for guidance.
We are at an important price level and today’s action should help tell us the future .. be sure to check back here tonight for my Commentary on today’s action.

There are some important Economic Events out today starting at 1000.ET.

Metals and Energy Commodities are Up while the US-Dollar is Down right now.

AMC Commentary 

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E-mini Trading Course!

If Stocks Tank, Shouldn’t Gold Soar?
By Jeff Reckseit

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 Markets are Up slightly … US Futures/Markets are Up as well.
QQQQ/SPY are currently Trading at 44.50/ 111.41
QQQQ Resistance is at 44.68, then 44.92
QQQQ Support is at 44.14, then 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 .. or the lack of them for continued follow-through.
Subscribers, read what I wrote last night and look at the Annotated Charts I posted then for guidance.
Use any break-outs of that outer Range as well.

There are some Big Economic Events out this morning starting at 0830.ET .. be watching for them!
The MBA Purchase Applications Report was released at 0700.ET and was “bad”.

Metals and Energy Commodities are Up while the US-Dollar is Down right now.

Yesterday we got some consolidation . . still looking for a Break-Out . . probably to the Down-side for the Short-Term.

Also, don’t forget that this is Options Expiration week . . Friday is the end of November options.

AMC Commentary

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a Great! Diet . . . I have actually used it and lost 18-pounds in less than 1-month .. honestly.

Prechter’s FREE 10-Page Market Letter: Be One of the Few the Government Hasn’t Fooled

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 Up big … US Futures/Markets are Up as well.
QQQQ/SPY are currently Trading at 44.24/ 110.71
QQQQ Resistance is at 44.68, then 44.92
QQQQ Support is at 44.14, then 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 .. or the lack of them for continued follow-through.
Subscribers, read what I wrote last night and look at the Annotated Charts I posted then for guidance.

There are some Big Economic Events out this morning starting at 0745.ET .. be watching for them!

Metals and Energy Commodities are Down while the US-Dollar is Up right now.

Yesterday we got the break-out of the Trading Range we’ve been looking for .. it was to the Up-side . . . look for at least a slight consolidation now .. probably retesting the break-out level around 44.1x . . . THEN watch what happens to see what the future might hold.

Also, don’t forget that this is Options Expiration week . . Friday is the end of November options.

AMC Commentary 

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Short-Term Swing Trading !

How A Bear Can Be Bullish And Still Be Right
By Nico Isaac

In recent months, Elliott Wave International President Bob Prechter has become something of a household name. In the final two days of August 2009 alone, Bob was mentioned by several news outlets from MarketWatch to the New York Times. The claim to his “fame”– 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.

0810.ET
World Markets are mixed-unchanged … US Futures/Markets are Up slightly.
QQQQ/SPY are currently Trading at 43.73 / 109.35
QQQQ Resistance is at 44.14, then 44.68, then 44.92
QQQQ Support is at 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x

Use these levels to look for turn Signals .. or the lack of them for continued follow-through.
QQQQ = 43.80 is key overhead Resistance today . . . subscribers, read what I wrote last night with respect to Chart-1 and how to trade that key-level action today.

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

Today’s follow-through (or lack thereof) action should set the tone for next week.

AMC Commentary

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Learn How the Wave Principle Can Improve Your Trading

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 mixed-unchanged … US Futures/Markets are Down slightly.
QQQQ/SPY are currently Trading at 43.73 / 109.67
QQQQ Resistance is at 44.14, then 44.68, then 44.92
QQQQ Support is at 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x

Use these levels to look for turn Signals .. or the lack of them for continued follow-through.

There are Big Economic Events out this morning starting at 0700.ET .. with the Biggest at 0830.ET . . so be careful!

Following a low-Volume, rising day . . . today’s action should set the tone for next week.

AMC Commentary

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Option Income System!

Get Your Free 50-Page Download: The Ultimate Technical Analysis Handbook

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
World Markets are Down Big (over 1%) .. US Markets/Futures are Down almost 1%.
QQQQ/SPY are currently Trading at 40.82/ 103.50
QQQQ Resistance is at 41.00, then 41.30, then 41.50, then 41.70-41.90, then 42.20-42.30, then 42.50, then 42.70
QQQQ Support is at 40.7x – 40.6x, then40.4x- 40.3x, then 40.20, then 39.50, then 39.0x

There is some Economic Events out this morning starting at 0745.ET . . not Big Market Movers, but be aware of them so you are not fooled by unexpected price action.

I expect QQQQ to start out falling then rising some today after the Open … all dependent on the BMO News . . .  The very key price level today is that first area of Support around 40.70 . . . breaking and Holding below that would continue the current Bearish mood.

AMC Commentary

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Forex Trend Scalper!

See for Yourself: This S&P 500 Chart Tells the Two-Part Truth

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
Far East Markets are Down Big .. Europe is slightly Mixed and US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 41.12 / 104.30
QQQQ Resistance is at 41.00, then 41.30, then 41.50, then 41.70-41.90, then 42.20-42.30, then 42.50, then 42.70
QQQQ Support is at 40.7x – 40.6x, then40.4x- 40.3x, then 40.20, then 39.50, then 39.0x

There is some Economic Events out this morning starting at 1000.ET . . not Big Market Movers, but be aware of them so you are not fooled by unexpected price action.

I expect QQQQ to start out rising today after the Open . . . without news until 1000.ET, she’ll probably drift higher for a little while and then have some reaction to he news.  The very key price level today is that first area of Support around 40.70 . . . breaking and Holding below that would continue the current Bearish Trend.

For those of you interested in following good Elliott Wave articles, here again is an excellent feed to monitor.
Also can be seen directly at ElliottsWave.

AMC Commentary 

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Short-Term Swing Trading

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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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Online Trading for Financial Freedom!

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