Intraday update

Nasdaq composite BACKTESTING today neckline on the topping hs pattern - SHORT it....... its bearish ....

Market view

Markets opened a bit lower and did have a VERY choppy day , up and down like nothing else with bad economic data out with consumer confidence extreme low.

Overall I expected today to be kinda flat today and choppy which I called in our room before opening www.nwatrading.com and we closed near flat with a very choppy day.

Guess what - SPX hit my UPSIDE target for this rally at 1220 which I had pointed out weeks ago - but the thing was that I just did not believe we would see a move to this level as my cycles charts told me that time was running out.... but oh my gosh , the high today was 1220.1 on SPX which is 0.1 penny from my target lol !! after we got to this markets plunged the last 10 min into close as big funds dumped imho and began to sell off in AH trading too.....

Well after my upside target reached I am gonna make a downside target for SPX which is around the lows we had at 1100-1120 area again. I think we are going to test those levels again in next weeks and in the case we break BELOW 1100 , we are going to get a bullish MACD divergence on the daily chart which is extreme bullish for markets in case we break below that level.

But for now , everything is just to SHORT the rips imho and I think extreme good chances that the rally finnished today - as my upside target of SPX got fulfilled at 1220.

We also have lots of possible bullish backtests on short ETF + we have a bearish rising wedge pattern on SPX 30min chart which could breakdown any day from now.

We have on 30min chart a very clear bearish divergence too... and with NYMO to extreme highs like we had in July top at (1355 SPX) we are same level on NYMO - everything then points for a big nice drop down..........

Conclusion: I remain in the bearish camp as I have been last days - and my average position in TZA is 43 now after adding in the 40's the last ones , having 30% of my whole account into shorts and rest in cash. Imho no reason to try pick a winner if you think markets is gonna go down.... just stay in cash + having lots of shorts.

TZA currently underwater as it closed around 40 , but I think in a few days from here ... this will be forgotten.

Overall downside target is at least 1120 on SPX and below - if we break 1100 this time , we could see 1070-1080 area imho.

Have a nice day ! :-)

Market view

Markets did a really nice and steady rally all day long on monday - but the rally really missed a lack of volume as the volume really sucked in such a big way + I think it was pure window dressings into month end.

Overall I've some some bearish divergences on the short term charts which also tells me that you should not trust this recent rally and I think this is the time to SELL and SHORT the rips we got.

So as I mentioned in weekends post I added a size position in TZA which is now at 43.4 average which means Im currently down under water.... as we drifted lower into close.

This position is a pure swing play as I think we are near a short term top - we might move a bit higher , but overall should be getting close to the short term top. Remember my call on SPX to touch 1220 ( we are around 10 points away from it - so if we get another rally my target is fullfilled from the SPX 1120 where I called for 1220.

What I found really really interesting with especially TZA were it closed right a a huge trendline I have been drawn from like 2 weeks ago when TZA hit 60+ - I were just plain stupid not waiting for this moment to buy it , as I did not believe we would rally this hard..... so my average size position is underwater from 43.4 let it be....

But when TZA ran from 37.5$ to 67 area , then we broke a huge downtrend resistance which is a trendline we are now BACKTESTING. TA wise this is VERY bullish as this trendline is acting as SUPPORT now cause it was resistance before. If this is true we should now consolidate around this level and not much down further in TZA ( which means not much up further... ) before we take off again to maybe new highs in TZA..... so get ready for some fun over the next weeks.

Again SPX might see 1220 , but I dont think we will reach higher and I think for swing traders this is an excellent opportunity to go short markets.

Remember I were BULLISH at SPX 1110-1120 when everyone were bearish , not people seems o be more bullish again which I love - so I'm starting to really get bearish especially after yesterdays move.


CONCLUSION: Long size position TZA 43.4 average and holding for a SWING play - I think we are close to a near term top and TZA potentially backtested a recent resistance which is support now to the penny.

Remember to join us at www.nwatrading.com we nailed PEIX with a 30% run in some days + got into SPY on friday dip at 114 perfect for this rally.

Again I'm pretty sad I sold my swing TNA on friday as I should just have held today , but no one can nail the top and bottoms everytime and I got a nice 10-15% gain in my TNA from 36-38 level to 42-43 , but for now long TZA and shorting this rips.


Have a nice day.

Market view

Markets did what I expected to have some wild swings , in our room at www.nwatrading.com we got all members to buy the drop in SPY at 114 also with TNA at 37.5 and rode the markets up into close were we sold positions - huge gains made in just a daytrade.

I were selling all my swing trade positions in TNA from 36$ and sold them at 42.5$ - I really thought we would see some higher levels - and there is also a possibility we rally higher on Monday next week , as my target SPX 1220 were the first target.

But either way Im happy with profits , its not everytime you can make profits and as long I make 10-15% everytime on swing trades thats great ! Hope some of you people bought the fear last weeks , it has been an amazing trading week both up and down.

Right now I'm becomming more bearish than bullish , also that the bullish sentiment is widely increasing.

I started a position in TZA for a swing trade at 47.3 and will add if we rally next week in size position.

The next move in markets could take us down to either 1080 first , or 1040.

The VIX is also holding up great - I would think VIX would go a lot lower , but seems like VIX is consolidating somehow up here for another move higher, possible we get some news with Greece and its bailout package which wont work.....who knows.

The thing is also that my MONTHLY chart suggest the dollar could see a MASSIVE rally from here over next months and that the dollar has bottomed - so as long the lows in dollar holds then dollar should go higher , we are quite near this lows , but lets see....

A higher move in dollar is the same with a lower move in stock markets.

Market view

Markets did make a little pullback after a 3 day run from 1120 to 1190 - then we got a pullback to 1150's and held above key support.

Friday is going to be a major interesting day imho and WILD swings is to be expected.... very wild.....

I'm overall still holding all my TNA as all my indicators is on buy signal - but there is a possibility that we are getting very close to the end of the rally imho......

We got to around 1200 and 1190 this time , the question is just if my target to 1220 area could come true today ?

Who knows - from what I see is that we broke some key resistance levels and on Thursday we pulled back all day long to backtest this trendline ( this is usually extremme bullish )

Remember I said this too when backtesting another support 1120 ?( we got to 1190 ).....

Now we are backtesting it arond 1150-1160 area and if this is true we should see a massive rally to 1200+ soon.

The thing is if you look at the TRAN chart we are getting right below a huge resistnace since late july.... if we break this ... its gonna be a wild and big move up... but the thing is that we could also breakdown from resistance here.... either break or die today...

We have also GDP numbers today which could also make the markets go or die... but either way , this day will be FANTASTIC to daytrade imho , come and join us in www.nwatrading.com and be with us to trade the day out.

Overall - but upside target remains at 1220 area possible or a higher high than 1200+ but my daily charts could give me a sell signal if we get a big red day today.... so that would not be good imho.

Have a nice day

Market view

Another BRILLIANT day with both TBT up big 5-6% as called and DZZ ( we were short gold 2 days ago , bought 3.88 ... holding rest 50%) and TNA had another amazing up day yesterday.

Markets closed right near some trendline resistance - and today will either be a DO or DIE imho......

Question is - will we break this trendline today or will we plunge or just make a sideways/down pullback?

Im still holding all my TNA position from 36-38$ and holding 50% shorts in gold which I possible would take profits on soon.

Short term charts is very overbought right now - but with the little pullback yesterday it helped a bit. If we dont breakout today and make another monster move to the upside I think we will get a pullback before and then breakout tomorrow - but either way holding my long positions.

One thing I find VERY interesting is that we broke a rising wedge last week where markets plunged a lot - but IF we are going to backtest this rising wedge trendline its at 1260 on SPX , and ugess what - 1260 is also the number of the neckline of toppping HS pattern + near MA(50) and MA(200)..............

So I dont know - if they wanna push us up there - but its very possible imho and thats why I also stay long from 1110-1120 on SPX and holding with great profits currently , but holding all tight.

Conclusion: Im holding all my TNA swing trade position and some small caps - markets broke some big trendlines yesterday which could set us to fire up higher. My personal target is just a move above the recent highs which is 1207 , so if we reach 1220 im happy enough - everything on buy signals and we will continue so as long as SPX holds above 1160 level.

XLF and financials still looks smoking bullish to me and ready to rock , went up near 3% yesterday and I think it has more to come... the most bullish days for markets should be today and tomorrow - so lets see if this is true..

Come join us at www.nwatrading.com take a look - we have been killing it lately and made over 20+% in DZZ , 6% in TBT , 10% in THLD and lots of others lately , there I can give you intraday analysis help both for swing trading and daytrading :-) I will soon be taking profits and will only tell the traders in the room when to do it intraday.

Market view

And there we went... big major rally in markets as expected from the backtest of trendline + possible double bottom. Mkts went up and closed near 3-5% for the day and closed at the highs , very bullish indeed.

30min and 60min chart all short term charts is now very overbought short term - which means either a pullback soon or not a big green day today - but either way we should move up higher into Friday imho.


SPX and TNA did close right at some resistance and gold plunged nicely which we were short in the room from yesterday and added yesterday too - which went up big from http://premium.nwatrading.com We made 10+% just in short hold yesterday and near 15% 1 day in TNA.

The thing is that we broke some big resistance at SPY 115.5 which should now act as support before higher - which means a pullback to this zone before higher is very possible.

Conclusion:

Holding all my TNA from 36 and 38 and short term charts very overbought short term - you might expect minor pullback but nothing big imho as I think we move higher again....

The pullback if we get one should be a possible gap down to 1150-1155 area before a move to 1220-1240 imho.

All my daily indicators turned on a buy signal yesterday and as long SPX stays above 1140 we will STAY on a buy signal - so every dip should be bought.

TBT looks like it could breakout next from here... and if TBT moves up , markets gonna move up - as you see when TLT(opposite of TBT) when this were moving up since start august , makrets were crashing down.... I think TBT looks very bullish therefore... the markets very bullish right now short term.
Either way- holding all my long size position in TNA 36$ and 38$.

We made 10% in DZZ in 1 single day + 4% in a stock + 14% in TNA in http://premium.nwatrading.com/ - come in and join you will for sure make everything back in just a few days. Best financial site on the web.

Market view

Markets did a nice gap up yesterday but bulls were pretty weak to hold this gap up - and we got ANOTHER day ... just hoovering around the trendline of backtest with a test of SPX 1120 area..........

Either way... still believe it is a backtest before run as we have a clear double bottom in both TNA and QQQ.

I wanna say that Im holding all my TNA position ...as I did not panic out on the "double bottom". My thesis tells me that we should be running higher into meeting on Friday and right now XLF has a 60min bullish MACD divergence + TRAN index having a 60 min bullish MACD divergence with a lower low in place...

Question is if we can start to rally this time for real... and the timing would be best if we began the rally from today until Friday in "hope" of some good news from bennie.....

Either way - I'm only going to hold my TNA position for the next days into meeting and if bulls are not strong enough to push us a lot higher Im going to bail out - but I will give them the next days to see what happends.

Oil is supposed to make a huge move this week with Libya in the news... right now it looks like a move to the upside though.... as weekly and daily charts is on a "buy" signal - not confirmed however.

Conclusion:

Bullish 60min divergences in charts , which is good for a short term rally.....

Holding all my TNA swing trade and will give bulls the next days into meeting at Jackson Hole to see if shorts gonna cover some and new buyers will step in.....

SPX still above support 1120

QQQ still above support 50

IWM still above support 65

Remember to join us at http://premium.nwatrading.com/ we really killed it yesterday with puts in BAC and GS before the move down !



Have a nice day

Market view

Markets did another slowly grind lower - but nothing really selling to me it looks like pure controlled selling..

I have a fib top cycle date on next Friday - which means markets could have a very bullish week this upcomming week.

SPX is slowly curling down at a trendline which it seems to me like we are backtesting.

1. Markets broke last week the downtrend line from the highs which is bullish ( always a backtest of this line before higher ) - we have been backtesting this line now for 2 days.......

2. If this is a backtest then we have a big rally to come next week and we should then move above 1210 and to 1260.... if I'm wrong I will stop out with minor loss.

3. TNA small caps red hollod candlestick usually a bottom candlestick , held well on Friday vs o ther indexes.....

4. If my thesis is right this week gonna be the most bullish week for markets.... if I'm wrong I will stop out with little loss.

5. I added TNA more on Friday at 36$ - if I'm wrong I will stop out with little loss at 35$.

So early next week is the key level - I'm looking for a massive rally from here , imho seemed a bit manipulated that they closed the markets at their lows for the week and day on Friday to scare out retailers who dont wanna hold over weekend... I think that not many would like to hold over weekend......

Conclusion:

Long and strong my swing position TNA 37-38$ level but added more at 36$ - will stop out if TNA moves below recent lows at 35.4 - so next week is critical to begin a nice bullish rally.

If we rally my SPX target is 1260.

Have a nice weekend and enjoy ! See you all at http://premium.nwatrading.com we kill it with most of the trades in there everyday.

Market view

Wow - what a NASTY day - all the gains made were nearly gone in just 1 day yesterday - and my big profits in TNA just erased and got down to flat again near my first swing trade entry.

I did not really expected such a big move down so what is next to come?

1. I got daily sell signals on all indexes yesterday.
2. We did not hold 1170 which were important for bulls..........
3. My thesis tells me - that we SHOULD BUY this dip and we should be higher again next week.....
4. 30 min chart and 60min chart , very short term charts are very oversold and suggest a green day Friday
5. We might be forming some kind of double bottom from last time we were down here - before we rally higher.

Overall I'm still holding my swing trade TNA 37.8$ and hopefully we dont get a major big gap down tomorrow below all supports.... that would be ugly.

My thesis still tells me we should buy this dip and the lows were in at 1100- seems like we could make a double bottom before we take off around this level... or maybe 1120 on SPX.

My fib top cycle is late next week.... for a top.

Longer term view:

Looking at my longer term view I wanna share something really interesting..... I wanna look at TRAN - Dow Jones Transortation..

When I look at my 5 years weekly chart I see a VERY interesting pattern...

Overall - the weekly chart suggest that a bottom is getting close ... a major bottom (over next 1-2 months imo). TRANS tried to make new highs this year , but got rejected from 2008 highs and 2007 highs. The very interesting pattern is that IF TRAN get down to 4000 - which is 300 points lower from current levels - then a MAJOR .. and MAJOR bottom could be in cause if this level holds - then we have a pretty nice inverted HS pattern on the weekly chart.

If this is true - then we will get a massive rally to come to new highs and a lot more... but overall its just something which I found interesting. I will at least be watching TRAN 4000. This could mean we will get QE3, QE4, QE5 and so on.. and inflate the debt bubble away... who knows.

Come and trade with me on we make a killing both up and down in the markets http://premium.nwatrading.com/


Have a nice day and enjoy weekend everyone.

Market view

Markets did gap up , then breakout to last 3 days highs , but then came sharp down again to 1190 level before getting flat end of day.

Either way - markets did quite nothing today other than just moving sideways for another day....

Usually from what I learned in the past - when markets has been down up huge (From 1100 SPX to 1200 SPX) and then moving sideways/down - thats usually a bullish consolidating pattern before breaking out higher.

So the game is still to buy the dips and accumulate , as I think markets warming up for a bigger break above 1210 to move to 1260 next which is my first objective target.

Markets usually stretching both bulls and bears - and 1200 where the first logical plays to go short in markets - I dont think they will make it so easy for the shorts.... we really need to make some big bears cover - so we are going to se a rip off rally to 1260 soon.

We have a big support area 1170-1180 as stated before - if we go down to 1170 we might have an inverted HS pattern forming with the right shoulder in - but I still believe we are close to reach 1260.

This pattern since the bottom might also be a kind of "cup and handle" in the works ....

The chart pattern targets we broke out of is still 126 on SPY - looking at euro FXE right at neckline , a breakout above this neckline seems likely... target 150 FXE. Also TRAN looks bullish to me , cup and handle + pullback , right below trendline and ready to rock hard... imho.

Conclusion: Either way how you break it up , IF we pullback - BUY it - stay long and Im long from TNA 37-38 still swing trade where I added 44.8.

By the way Im looking for a near term drop in Gold and Silver soon from here ( some weeks )

Have a nice day

Market view

Markets nearly followed my roadmap perfectley lately.

We have been in shorts when markets plunged in early August to 10th August where we got long again and I'm in big profits in TNA from 37-38 swing trade , where I added the dip we got yesterday at 44.8 for a swing trade.

I think we either got the pullback I were looking for - or the other thing is that we will gap down today to 1170-1180 area and then rally from this level. Either way , I think markets ready for next leg up.

Markets been moving up from 1100 -> 1200 with a little healthy pullback to 1180 yesterday - now we are mostly ready for next move up.

My thesis remains the same - if we dip , buy the dip - as my fib top cycle suggest a top late this month (sometimes next week) which means we could be way higher from here .... :-)

As I have been saying lots of times - markets will ALWAYS stretch to the limit and try to fuck with both bulls and bears..... bulls were screwed 1 week ago - now I think bears is going to be screwed as they are forced to cover which will give extra fuel for rally.

I wanna tell you that TBT looks very bullish to me with TLT very bearish now - this suggest that markets is going to rally - cause when TLT tanks , markets rallies - when TLT rallies - markets plunges.

Overall TLT looks BEARISH to me now - which means markets about to rally.... time will tell us.

Conclusion:
Overall my upside targets remains at 1260 - if we get this level in this week , I think good chances for 1300's by next. If we get a dip - then BUY the dip ... not time to short.. and I remain heavy long TNA 37-38 for a swing trade.

Remember if you have some problems with trading or you wanna learn swing trading/ intraday trading , trading with small caps - then join http://premium.nwatrading.com/ and tell you know me. Over the last 1 week people in there has earned more than 5 x back what they payed , just in a week to be honest.



Have a nice day

Market view

Markets did ANOTHER very nice rally yesterday up 2% yesterday , very strong and my TNA went up to 48-49$ holding my big swing position from 37-38 up above 10$ per single share now with a size position hold. People who are trading with me in http://premium.nwatrading.com/ bought it low and we made good money in LCC from 5$ to 6$ yesterday with NBS too up 14% yesterday. Very nice gains indeed.

So whats the plan now and where do we go from here ? Markets been up nicely without a pullback - and as I said before , it is NOT the time to short but buy the dip , and I'm thinking we might push a little higher to possible 1210-1220 before a GOOD pullback to 1170-1180 area.

So right now I would keep holding all long positions , but take a "speculative" short position at TZA (just for a VERY short term pullback) - but after the pullback which SHOULD come according to the short term charts - then you should buy the dip as we should be moving higher.

My upside targets is 1260 first and if we manage to break that - its around 1300's next.

Conclusion: Getting closer to a bigger pullback in markets - we might test 1210-1220 first , but if we pullback you should buy the dip before we move higher imho.


If you want some live informations about market directions , intraday trading or swing trading I'm in http://premium.nwatrading.com/ .

Have a nice day everyone :-)!

Market view

Markets did a minor gap up and closed in green on Friday.

I've added some more TNA at on Friday so I have a full position for a swing trade.

Long 37-38$ and added more friday - where my thesis is that you should buy all the dips we get - cause a minor rally is underway.

All major indexes is on daily buy signals which is also telling me that the short term bottom should be in.

Upside targets for this upcomming rally is a re-test of MA(200) which is 1285 and MA(50) is 1283.

So a good target for this rally is 1280-1290 area probably with an overshoot to test 1300.

Overall I remain long for a swing trade and i'm now ready to play lots of beaten down small caps which can go 50% in a matter of few days.

On daily chart we have a "death cross" where MA(50) crossing below MA(200) which is a very bearish signal longer term.

But from what I've learned in past , the death cross when it happends is a BULLISH signal so the markets should test one of the MA(50) or MA(200) before it falls lower.

Thats why I'm short term bullish for next 1-2 weeks.

The euro still have the potential inverted HS pattern and either a big breakout is underway or a big breakdown in the euro.

The longer term charts on FXE tells me a big breakdown should come - however my shorter timeframes + the chart pattern inverted HS pattern tells me a breakout to 1.5 should come.

If the euro rallies - then the markets is going to follow - so a probably rally to 1.5 in euro with the markets rally could be in the cards.

Sentiment in the markets is still too bearish right now - so either way short term - if we pullback then buy the dip as a bigger rally to 1280-1300 is underway.

Have a nice day and see you all tomorrow on http://premium.nwatrading.com/

Market view

Markets did a little gap up 1% yesterday - but from the chart pattern I saw where we bought long positions in TNA Wednesday before close at 38 - then we got a big huge rally all the day in markets where it went up 3-5% as I called in the room at opening bell www.premium.nwatrading.com

Overall I have buy signals on all indexes in markets - there is a possibility that the QQQ backtested a topping HS pattern neckline and a little sell off would occur today.

IF we see a good sell off this Friday in markets - I'm at least the one who is going to add a lot of TNA for a swing position.

I believe that at rally is right around the corner , and its possible that yesterday were a good start of the rally...
SPY broke 1160 and 1170 level - which pattern target tells me a short term target of 121.75 or around 1220 on SPX level......

This is for now my very short term target - but I think there is a possibility we can even go higher over the next few weeks.

Overall sell off or not (hope for a little sell off today) Im gonna add size position more in TNA.

Already in heavy from 37-38 for a swing trade , but im going to add to that position sometime today.

FXE euro still having the inverted HS pattern with target 150 , which would fuel the markets higher imo.

TNA broke 44 yesterday which gives a short term target of 52- which I think we will reach in the near future.

Conclusion: As I called I remain heavy long TNA 37-38 , still have cash in hand in case we sell off today - either way - I'm going to add some more TNA before weekend and possible on monday depends if we can sell off.

We made another 15% on TNA yesterday and 20% on ORS in room at http://premium.nwatrading.com/

Come in and join us both for daytrades/swingtrades and so on.

I'm still thinking a bigger rally is underway why I'm holding all my swing trade TNA and will add as soon as possible.

Have a nice weekend everyone and enjoy !

Market view

Markets did a gap down yesterday where we consolidated after the big up move of 5% Tuesday. Markets gapped down , moved sideways and had a little sell off into close.

As what I saw the most bullish thing would be a sell off into close - and we got that. In our new room www.nwatrading.com we were in TNA from the breakout until 1 hour before close and got into TZA (daytrade) where we sold TZA 1 min before close and bought TNA again at 38s.

If I'm right we are getting very close to a bigger upside move as I think we are forming a near perfect inverted HS pattern in markets.

Markets on daily chart gave me a sell signal into close again on daily chart - but I think it was fake cause of the pattern I am seeing right now. If i'm right now - markets has made the inverse HS bottom with the right shoulder being in yesterday and the next move should be a huge move and rally to the upside.

With this thesis I have - I added more TNA 38 and now in with quite a big size position in TNA for a swing 37-38 and i'm HOLDING for the swing as Im thinking the markets is about to have a big rally comming up over next weeks from here...

I'm thinking IF we in case sell off soon or we plunge late this week in markets - then I would use this opportunity to BUY - but there is lots of things which tells me that a bottom is already in now.

I bought ORS 1.88 on Tuesday and got it on watch list for members at 2$ yesterday , ORS went up yesterday 40% in such a bad day and we were killing it in www.nwatrading.com - by the way Im still holding ORS from 1.88 as this is a swing play for me - I think this little small cap can go way higher if markets starts to pick up speed... as I think we will....

Conclusion:

Whats next to come ? I think a big rally is underway - and I think you should beging to buy all the dips if you can - take profits on all shorts and puts now as the sentiment right now is at extreme bearishness with around 45% bears and only 33% bulls.

The target for SPY is 121-122 based on the chart pattern target and TNA target is 52's area - which is a lot upside from here.

So this is my short term targets for now and thats why I'm thinking no matter what happends today and tomorrow - BUY the dips for long swing position - get greedy when there is blood , this is the time.

The euro is suggesting that a MAJOR rally in the euro is right underway - as what I see here is another inverted HS pattern - not sure if im very wrong seeing that , but if this is true FXE target is 150 which is way higher from here or 1.5 EUR/USD.

This would help markets rally a lot higher too in the comming weeks....

If my euro count is wrong - then euro should break below 140 which is support now - if not I continue to be extreme bullish euro short term.


Remember to join us at www.premium.nwatrading.com where we do both swing plays and daytrades to make money both up and down short term and longer term.

Have a nice day

Market view

Wow - what a MARKET yesterday , that was some crazy wild swings up and down - truly amazing for daytraders.

As I posted yesterday I thought a bottom were extreme close - and still not 100% sure yet that we have seen it - but I'm getting pretty confident right now being long as the downside is limited.

As I told members yesterday on www.nwatrading.com we bought a good starter position in TNA 37-38 yesterday on the dips + LCC called in room yesterday at 5$ as a potential big bouncer and gainer if markets starting to rally. LCC went up 20% yesterday to 5.8 and still looks good - TNA went up for us in the biggest end of day run I have seen before.... 20% also in 1 day we made.

What told me to stay long markets were a pattern on the euro (inverted HS pattern) which indicates to me a rally for the euro - and therefore a rally for the markets......

If its hold true I think euro should keep going and with this markets should keep going up - but I have only a starter swing position at 37-38 , pretty good one though cause I added more TNA on the FOMC (fakeout dip) we got - as I saw we got a BULLISH 60min chart MACD divergence.

Remember yesterday I said - we have NO kind of bullish MACD 60min div, wait for this before a "possible" bottom to occur - and we got a lower low yesterday + but with a bullish divergence , which told me to add to long posiitons.

QQQ went down to some huge support at 50 (2010 top for QQQ) which I think will hold. So I think there is a 80% chance or so that the short term bottom is in.

If we rally today I might take off some gains in my stocks - but I think we could have a sell off into late this week (Thursday/Friday) still possible we could test back to 1120-1150 range just to fuck with both bulls and bears. Either way , if we get a dip later this week I will buy it and load up on the long side - as a bigger and major rally is underway.

The rally yesterday up 4-5% may also be the start and kick off for the rally so time will tell.

Conclusion: Got sell signals at TZA yesterday which I sold at 60 rest 50% , so all out of TZA from 37.5$ to 60 , what an amazing run... now opposite in TNA from 37-38 lol... can I get the same run ? Who knows - already closed at 45 yesterday, but my plan is if we rally to not chase - but rather wait for a pullback later this week to add more and size position in TNA.

So for members in our chat room on www.nwatrading.com we made 20% on LCC and 20% in TZA in 1 single day - thats amazing gains we had.

Have a nice day everyone and looking forward for Wednesday !