Market view

What an AMAZING week we just got with our shorts all of them working out so well - DRV - EDZ - TZA still holding all major swing trade positions as markets plunged down near -3% and closed RIGHT at some heavy support which is a MUST HOLD for bulls.

As expected I said a big plunge on friday which we got - and I thought that markets would "hold above the support" so the bulls could buy up before weekend and give them another chance to get in on support.

The thing is - right now from what I'm seeing dow jones and SPX have potential topping hs patterns which gives me a target of SPX 1050 and dow jones 10100... wow - thats a big drop indeed... but again that is how it is and eventually I think we could reach those levels.

The thing for next week is that I think on monday markets will be hysterical as I count monday next week the most bearish day with this friday - so I would not be "surprised" to see the markets tank another -3% or even more on monday. In case we begin to tank monday huge - I'm going to lock in profits on my short positions as im already up huge....

You should really be ready for another WILD week - I think mkts could see a rally sometimes next week too - but we could easy see some wild choppy swings by late next week with the debt problems and Greece.

On the bigger picture I think we are on the way down to make a new low to make 2011 year low sometimes in October.

If you have made money based on my charts and analysis I would kindly ask for a little donation as it takes a lot of time to do all this every single day thats all I ask for - thank you :-).

Remember - markets is in a BEAR FLAG PATTERN - which you know leads to the downside - so its only a question of time before we breakdown. Monday could be the day and if Im right - Monday could be a huge down day too starting with a gap down.

But I dont see us go straight down to 1050 area - I think we could rally in between and thats why Im gonna try ride both markets up and down in the near term.

The dollar UUP still rallying as called 2 weeks ago with the FXE (euro plunge) which I also called.

Near term you could expect the dollar to pullback with a bounce in the euro - but after that and longer term dollar should increase from here.

We are killing it in www.nwatrading.com a memeber joined on Wednesday and since then he made 950$ on the trades we had.

Have a nice day and enjoy weekend - and get ready for the next week - its gonna be wild.

Market view

Markets did a gap up and then a little run early on the day - for thereafter making a great reversal intraday as I called on yesterdays charts with a possible move up in the morning for thereafter a good move down afterwards.

I expect from this level that we might see 1100-1120 next few days and a sharp move lower in markets is very possible - dow jones seems like forming a topping hs pattern with targets near lower 10.000... which is WAY lower than those levels.


Conclusion: I remain fully short via EDZ , DRV and TZA and actually got a daily SELL signal on indexes again. So overall looks good for the short term and with a SPX target 1100-1120 to retest lows. In case we break the lows we might see 1080-1090 area.

Market view

Markets did an amazing rally which I did not see comming - and went up 3.5% on very low volume.

We are still in the bear flag pattern and its been choppy trading last weeks.

I got a daily buy signal in market indexes which tells me that the short term trend have changed - I think most people covering before Obama meeting.

However my thesis tells me that the most ugly and bearish days should be those days into weekend and possible Monday next week - therefore I hold all my short positions TZA , EDZ and DRV.

Conclusion: With the recent rally yesterday on low volume I remain long TZA 43 , EDZ 19,7 and DRV 11$ and will continue to hold those at least until Friday

Markets is not very overbought short term and good chances we will start to fall down again from here with the most bearish days ahead of us. Its very possible we may get a little gap up but we have so much overhead resistance in the area 1200-1210.

Market view

Markets did gap down a lot yesterday to SPX 1140 area , which was my first target area as I called when markets were 1220-1230. Target reached to the downside the first target and we bounced from this lows - to me it just does not "feel" like the lows and I think this were the first low we got to suck in more bulls - then to make another low later this week.

My fib cycle have a bottom around next Monday which tells me that markets gonna see some blood and panic over next few days into Monday.

Markets looks also like making a "bear flag" which is a very bearish pattern before a breakdown should happend from this - so im currently holding all my swing trade positions in TZA , DRV , EDZ which area all in green.

It felt yesterday like the "bulls" won the day yesterday as we managed to close in little red , but again... we closed RED and not big GREEN....... psychological manipulation for people to turn bullish but actually was just an oversold bounce imho.

I think good chances that we backtest 1170-1180 area and as long we dont rally above 1190's area I remain confidnet being short markets.

Again ... if we get a monster rally today to above 1190 - then my short term trend may change.. but until then I stick to my guns and thesis.

Conclusion: I remain 100% long my short positions until the short term trend tells me otherwise - my first target of SPX 1140 got reached this morning on the trendline support which is the bulls critical area - we got a rally from there but I dont think this is the bottom and I think we will see more blood and panic into weekend.

Have a nice day

Market view

Markets did another nice sell off on Friday were markets took a big hit !

The dollar kept going up with the euro weak as I have predicted 1 week ago - and I think there is a lot more downside to come in the euro near term with dollar to rally.

With this in mind I think we could see a nasty week this week - and from my analysis we should get the most downside and panic to come this time.

My short term target is still 1140 , but if we breach this I can see us going to 1100 and possible lower levels.

My TZA , DRV and EDZ position is all in BIG green $$$ and this is why I insisted in holding those positions and cash levels.

Im still holding all my short positions and ready for another wild week- there is however a possibility of a suckers rally on Tuesday , but I bet you I think rest of the week will get pretty nasty for markets.

Conclusion: I remain heavy short markets with a first downside target at 1140 - then 1100 and below this we could see 1070-1080.

My fib cycles tells me we could very well see last leg down below 1100 to make the ultimate bottom sometimes mid this month before a huge rally to come in markets into year end.

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Market view

Just a quick update - markets got a daily sell signal today and my TZA is already in profits from a big size swing position at 43.

This is why I said - patience , and I think window dressings done and we can now begin to plunge.

I wanna remind you I dont expect any big sell off before sometimes next week where there is a lot on the calendar which could make us plunge.

By Wednesday next week I expect the biggest sell offs to happend and after this date.

Overall I might revise my SPX target to 1130-1140 area but this is also near 60-70 points down from current levels.

Conclusion: Lots of cash in hand and holding all my TZA swing + I got DRV EDZ on Thursday morning at 11 and 17.6

Again we killed the trades yesterday in www.nwatrading.com come by in our live chat room the best on the net.

Have a nice day

Market view

Not much to say - markets did an amazing gap , trap and crap people yesterday with the Nasaq composite backtesting the neckline of the big topping hs pattern which is a a bearish technical sign.

I still believe that market topped out and we are about to flush down again and my SPX target remains at near 1120 area.

Small caps closed in red yesterday which is a "no good" sign for markets and FINALLY we are comming to a new month so the manipulation of window dressings work can stop. The last days pure manipulation up , also on bad econmic data is pure manipulation by the big guys - I think from now on markets can finally drop as it should from the 1220 target reached.

Im holding a big size TZA for a swing trade at 43$ and holding everything as it will get worse next weeks in the markets , so have patience and wait.....

Over the lasst half year I have been nailing every single swing trade move (maybe not picked the EXACT bottom and exact TOP ....) but I have been making profits on all of the trades if you had enough patience - so lets see if I will be very wrong this time , but my analysis tells me that we are about to see another move down to 1120 SPX if not lower.

Looking at IWM small caps it seems to be a pretty topping head and shoulders pattern forming with the right shoulder about to be in at yesterdays close. The same with TZA formed an inverted HS pattern which targets near 45 for the very short term.

Conclusion:

Have patience remain long big size swing TZA at 43 as I think the short term top is in and my SPX target to the downside remains at 1120.

The dollar UUP has imo bottomed this year and should see a monster move up soon and rally per chart. Could happend in the comming next 2 months IMO , give it time.... but the move should be big and I predicted it first here.