ACTS Money Machine

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.

0730.ET
World Markets are Down Big and  US Markets/Futures are near Flat . . . Nasdaq slightly Up while the other big indices are slightly Down.
QQQQ/SPY are currently Trading at 42.74 / 106.22
The US-Dollar is Up over 80 now

I’m looking for a small Drop and then a Bounce Up today . . . totally dependent on the Employment Report BMO this morning.

There are several Economic Events out all day.. with THE Big one at 0830.ET

0845.ET
The Employment Report came out within the expected wide range . . but the Unemployment Rate came out below expectations (manipulated of course) . . .
SO … I think we will get our Bounce today that I’ve been predicting  .. but I will probably let it run Up and then start Opening Down positions … the jobs created was negative and the overall economy is still not looking too good.
QQQQ will probably go Down to the level I posted for subscribers last night at some point . . either before the Bounce, or after a run higher Open . . . either way, I will be Shorting rallies.

AMC Commentary 

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U.S. Dollar (Forex): Feelings vs. Reality

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

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the Daily Market Advantage!

See for Yourself: This S&P 500 Chart Tells the Two-Part Truth
Have you seen or read ANYTHING like this in the past two weeks?
By Robert Folsom

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 lower (under 1%) .. US Markets/Futures are Slightly lower to unchanged.
QQQQ/SPY are currently Trading at 41.65/ 105.37
QQQQ Resistance is at 41.50, then 41.70-41.90, then 42.20-42.30, then 42.50, then 42.70
QQQQ Support is at 41.00, then 40.7x – 40.6x, then40.4x- 40.3x, then 40.20, then 39.50, then 39.0x

There are some Big Economic Events out this morning starting at 0830.ET . . . the FOMC Report yesterday was quite dovish .. no inflation and easy money for a while into the future . . . however, they seemed to imply that the economy will not be good for a while too . . . so, some good and some bad out of the whole deal.

I expect QQQQ to start out rising some today during the Open … all dependent on the BMO News . . .  The very key price levels today are those first areas of Resistance and Support . . . I think we get Range-bound / Sideways Trading today .. hitting those Resistant/Support levels and turning . . . most are waiting for tomorrow’s Big Employment Report . . . I think both today and tomorrow might be good days to sit out and Relax.

AMC Commentary

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Forex Trading Robot!
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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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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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A Simple Strategy for Extraordinary Profits !!

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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.

0745.ET
World Markets are Up over 1% for the most part . . .
USA Markets/Futures are Up some as well.
QQQQ/SPY are currently Trading at 39.67/101.03
QQQQ Resistance is at 39.6x, then 39.8x, then 40.0x
QQQQ Support is at 39.40, then 39.1x, then at 39.00, then at 38.50, then at 38.30.
Use the Charts I posted last night as broader guides.

The Big Economic Event out this morning is at 0830.ET . . the Employment Numbers.

I have no real Plan for today as I expect there to be very low Volume and will not be Trading due to the higher risk/reward . . . I’m starting my holiday weekend early.

AMC Commentary

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