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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Q&A With Robert Prechter: Why Technical Analysis Beats Out Fundamental Analysis
As the major stock markets turned down in late 2007 and then started to rally in March 2009, many people who believed in fundamental analysis have begun to question its validity. 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 and the US Markets/Futures are Down some right now.
QQQQ/SPY are currently Trading at 43.60 / 110.20
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 and last night.
For Longer-Term and larger positions, wait for a break-out from the Range I showed on Chart-1 last night.
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 . . but overall a light news day.

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

AMC Commentary

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Penny Stock Prophet!