ACTS Money Machine

U.S. Stocks: Will The Bears Relinquish Control?

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 some.
QQQQ/SPY are currently Trading at 43.11 / 107.11
The US-Dollar is Down slightly .. hovering at 80 now.

I’m looking for a small rise at the Open … with ST Resistance levels at 43.30, 43.40, then 43.5x . . . rising and Holding above that would be very ST Bullish. . . . Look for Reversal Signals at each of these Resistances on the way Up as Bulls showing their weakness .. but don’t necessarily jump on the Bear wagon unless you have a Strong Down Signal or you are Trading a VVST move.

There are Economic Events out today.. with the biggest one at 0830.ET

AMC Commentary 

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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.

0645.ET
Asian Markets are Down Big while European Markets are Down some and  US Markets/Futures are Down slightly now.
QQQQ/SPY are currently Trading at 44.16/ 109.09
The US-Dollar is Up some … still below 79

Pretty much the same as yesterday . . . I’m looking for an Up-Bounce . . . but watch for a failed rally to Open Shorts . . . QQQQ=44.5x-44.6x and SPY=110.50 are good areas to look for our Trading System Reversal Down Signal . . . BUT, if she looks Strong, just let her ride Up.

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

AMC Commentary 

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Elliott Wave Articles

5 Fatal Flaws of Trading
EWI Senior Analyst Jeffrey Kennedy discusses why most traders lose, the five flaws associated with losing, and how to overcome these five flaws to become successful. 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 (except Japan) are Up good and US Markets/Futures are Up slightly right now.
Japan is flat.
QQQQ/SPY are currently Trading at 44.41 / 111.79
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.

There are no big Economic Events out today … a very light news day.

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

In general, I expect the Markets to stay in their recent holding pattern without any big breakouts . . . 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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Forex Secrets!

Portugal, Italy, Greece and Spain (PIGS): Cracks in the European Union

Here are my Annotated Charts reflecting my “big picture” view of things QQQQ and SPY:

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the Secret behind the Secret!

How to Prepare for the Coming Crash and Preserve Your Wealth
by Susan Walker

As was widely reported in the dark days of late February and early March 2009, Robert Prechter called for the start of the biggest stock market rally since the 2007 high. Since then, the S&P has soared more than 60 percent in just six months to reach his target zone of 1000-1100. — 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 right now.
QQQQ/SPY are currently Trading at 44.20 / 111.65
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

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 Big Economic Events out today starting at 0830.ET.

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

AMC Commentary

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Secrets of Successful Traders!

BMO Commentary

Happy Veterans’ Day !!

The Markets are Open but will be very unpredictable today . . .
there are no Economic Events today . . .
I recommend just relaxing and enjoying the day.

AMC Commentary

A sharp Up Opening and then a drift Downward the rest of the day Closing a little higher . . . she sure is looking weak and ready to tumble Down some . . . we had a Spinning Top Closing daily-candle today .. somewhat Bearish under normal circumstances.

Some news I wanted to share . . . this Blog is going to start featuring a lot more Swing- and End-Of-Day- Trading Techniques/Education/Charts . . . I, personally, am having more of a need to shift a lot of my money into Swing- and Day- vehicles as opposed to Day-Trading . . . no fears, Day-Trading will still be a large focus .. but Swing- and EOD- Trading will start to get a lot more visibility . . . including new Trading Systems/Models to handle them as well.

Here are my thoughts/Charts/Commentary on today’s Market action:

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

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.

0710.ET
Far East Markets are Up some while Europe is mixed-Flat . . . the US Markets/Futures are Down Slightly.
QQQQ/SPY are currently Trading at 43.44 / 109.37
QQQQ Resistance is at 43.75, then 43.8x
QQQQ Support is at 43.17, then 42.90, then 42.6x

There are a few Economic Events out this morning starting at 0745.ET . . Retail Sales numbers followed by some Treasury Auctions and Fed Speakers . . . not much to affect price action once a Trend is established after the Open.

It’s not looking like there’s any follow through for the Open after yesterday’s Big run higher … good news for this Bear! . . . depending on the Retail Sales numbers, I am expecting a slight rise at the Open followed by some Down movement . . . watching for Signals at the start of an intra-day Trend that will tell us how Strong it might be. (how long it might last)

AMC Commentary

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NASDAQ Profits !!

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.

0720.ET
Far East Markets are Up Big while European Markets are mixed around unchanged . . . US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 42.40 / 106.94
QQQQ Resistance is at 42.78, then 43.17, then 43.86
QQQQ Support is at 41.80-42.00, then 41.50, then 41.2x, then 40.9x, then 40.6x

There are Economic Events out throughout the day, but the Big one is out BMO this morning at 0830.ET . . so be careful! I will, and I highly recommend to, not be Trading today unless something outrageously Strong shows up. It will be a wild and unpredictable day … especially with the Plunge Protection Team (PPT) very active. Most people are Bullish right now .. another sign that the Top might be near .. just waiting for a trigger.

The DOW jumped 203.82 points yesterday, closing at 10,005.96. NYSE volume was lower on the rally at 86 percent of its 10 day average. Rallies are occurring on declining volume and declines are arriving on rising volume. That is a bearish formula and one we would expect to see around tops. Half of the trading days the past few weeks have seen moves above 100 points. Increased volatility, even large up days, is also something common around significant tops.
So, I am still Bearish .. even with a small Up-move today . . . but am really looking to start loading up on Down positions.  If we get a Strong Reversal Down Signal during the Open and it stalls after hitting Resistance, then I will probably start picking up QQQQ/SPY/MSFT Put Options in my Trading accounts .. as well as QID/SDS positions in my Retirement accounts . . otherwise I will just Relax and wait until next week.

AMC Commentary 

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the Ultimate Trading System!
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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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Death of the Dollar, Again: Before You Mourn, See This Chart

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
Far East Markets are mixed while European Markets are Up Big and US Markets/Futures are Up some.
QQQQ/SPY are currently Trading at 42.72 / 107.90
QQQQ Support and Resistance details are shown on the Annotated Chart posted Friday night in AMC Commentary.
Overview: . . . Support @ 42.05 then 41.85 . . . Resistance @ 42.70 then 43.20

There are no Economic Events of any concern this morning starting .. so we should probably drift Upward … be careful of a low-Volume drift higher .. use the Annotated Chart I posted Friday night in AMC Commentary as a guide for break-outs.

AMC Commentary

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Secrets of Successful Traders !!