Market view

Markets slowly climbing higher - but I wont say its climbing higher with conviction and there is still a very good possibility that we have the last leg down before pullback is done.

There a both positive and negative factors which tell us that the markets could already have bottomed , but also signs for the short term that we are about to get last leg down.

1. 30 min chart is overbought now - which means a pullback near term is to be expected - some kind of. Are we finally going to test my 1325-1330 SPX range or how much do we pullback - if we pullback?

2. Dollar looks like backtesting a broken trendline which is broke out yesterday - if so dollar may move higher and test MA(50) IMO before any bigger pullbacks - so thats a little bit higher from here which means markets going a little bit lower from here (fits with 1325-13330 area....)

3. The MACD histogram ticking up and made a reversal on daily chart - which often means trend changes - this is positive and thats why markets may have made the pullback.

EITHER way - I'm long and long lots of good small caps - follow me on twitter to see which ones I play. I remain long TNA 82.7 which closed at 87.45 yesterday - up quite big on that trade already......but still holding. In case we see SPX at 1325 I'm going to add to my TNA position...if not - just holding.

The downside is minimal right here as I see it - cause after this pullback is done a rally to new highs should occur with objective target of 1380. But as I called - early May would give is weakness and then expecting about mid May or so a new rally to occur. Based on new and full moons we are getting a full moon 16th May.

By the way silver is up nicely yesterday as called last week - and I think silver has more to go up.

Have a nice day

Market view

Markets did a big gap up rally early on job numbers and usually as I've posted on my twitter - on unemployment days if we gap up - then we close lower and if we gap down - then we close higher. This holded true another time as markets did rally early and then shaked out shorts with a nice trend reversal down.

So the question remains still - is the pullback done or do we have a last leg down ? I think we have 2 possibilities and the one is - we are in a choppy range down here (which is a bottoming process) and then finally breaks out to higher levels. The other one is that we will gap down early next week and get to my SPX target zone 1325-1330 area which we are close to.

Im still long TNA 82.7 but took some profits in 1 day yesterday as I was up 5-6% on them when it was trading 87ish.

As called the dollar kept rallying nicely and I think a short term bottom were in last week. The question remains how high we will go in the dollar - before heading down again.

Either way - if the markets bottomed with the pullback we got to the SPX 1329 and right in the target zone - but I would like to have a test of 1325 personally before going higher. After this pullback markets should rally to new highs to an objective target of 1325-1330.

The only thing which has me worried about the markets is the dollar which is looking very strong and could be a major bottom setting up per weekly chart. But if we get one pullback in the dollar mkts may rally to new highs on the pullback... thats what I am seeing right now.

Either way the dow jones does not look bottomed per chart - and the chart looks kinda weird with the bounce. The best thing would be if dow jones early next week plunged down to 12.450- which is a perfect target for a big rally to come imho... but thats just how I see it.

One thing is that on the futures the dow jones touched near 12.450 - which also could suggest that the bottom is in.

But overall expect a big rally to come soon, I'm already long good quality stocks and still TNA 82.7 - but will add if I see SPX 1325 next week.

Im still very bullish silver and I think a nice bounce or rally is underway... think it has bottomed short term.

Next objective target still 1380-1400 after pullback is done.

Have a nice weekend

Market view

Markets did another plunge yesterday which were really nice as the SPX and DOW jones still needed to move down to my objective targets. If you take a look at SMH and Russels - actually SMH were up near 1% yesterday - and Russels were also green, but closed in red with -0.3%.

Overall those indexes are leading markets - and Russels got a bigger plunge before SPX , SPX just followed Russels down.

The thing I was watching yesterday were the trendline at 1336-1337 area (Backtest of trendline from inverse HS Pattern) - in the end of the day - we actually broke this level which gave a pretty hard sell off into close. But all in all Russels kept holding well so far with SMH which means that the pullback now is done pretty soon.

As called last week the dollar made a short term bottom and were rallying with the markets taking a breath - the question remains now if the dollar will keep rally up - cause then markets is likely to step further back.

When we were trading at SPX 1370 my first objective target was 1325-1330 on SPX for a pullback - we are very close to this level now - as we saw 1330 got tested yesterday. But as we broke 1335-13340 range my target for SPX pullback is 1325-1330 which we most likely could see today if we gap down and then we have some multiple big supports in this area.

So what am I thinking ? Right now there are just so much bearishness out there imho - Sell in May go away , markets falling many days in a row - no QE3 and so on - which I like a lot cause thats just more fuel to another massive rally i believe is comming.

To me it looks quite a lot like an ending diagonal on SPX which is forming - so around 1325-1330 area we should start to bounce from a trendline in the ending diagonal. SPX 1325 is also horizonta strong support.

So what to expect after this pullback is done which I have been calling for - well get ready cause I think a massive rally is right around the corner with 1380-1400 target , so possible new highs to be expected!

I got long TNA yesterday and still holding 82.7 - small caps looks bottomed imho and thats why Im long now- if we have more downside to SPX 1325-1330 its very limited imo so its time to grab some longs and good quality companys.

So for today I hope we could see 1325-1330 before next week and if we see it - thats really time to load up big positions on the long side.

For some long quality stock plays I love GMXR here - I've added more yesterday at 5.16 - as I think a massive inverse HS pattern is setting up.....the target would target 9$



Have a nice day

Intraday alert

Just loaded up big size in TNA 82.7 heavy loaded , I think we saw a bottom right now and a massive rally is underway. Looks like the 1337 was holding well the trendline I have drawn on my charts - so time will tell.

Next objective target is 1380-1400 on SPX.

Market view

Markets did another dip yesterday early morning and TZA hit my target and also a little bit above where I thought TZA would run !

WOW.. what a monster run in TZA and with huge profits from 32 and below and up to near 36$ that was very much worth it. I've got all out of TZA as I think that the small caps is now way overdone to the downside - at least for the short term. But there is also a very good possibility that the small caps have bottomed - but SPX and NASDAQ and others haven't cause small caps usually leads the markets up and down as I've mentioned many times before.

I've bought TNA the opposite and 3 x bull small caps yesterday with avg 34.7 - as I think its a very good starter position to have.

I've would like to share my thoughts on the SPX as I am pretty sure that the pullback is NOT over yet - but the downside targets I have some problems with and 2 different counts.

The Russels chart tells me that we had a bounce to the trendline again and potential reversal - that is why I bought TNA at least a good starter cause small caps may have bottomed out.

But overall there are 2 things I am looking at:

1. I thought the pullback would last a bit longer - but still said that early may would see weakness and we are still in this period - which means most likely SPX pullback is NOT done and I dont think its done.
2. If SPX bounce today I think it may be a shortable bounce before a new leg down soon. I really just dont think that the SPX has bottomed already.
3. I have 2 objective targets for the SPX pullback target. The first one is 1335-13340 which is a BACKTEST of a broken trendline in the inverse HS pattern. We may test THIS level before we make new highs - IF we test it and hold it I guess the pullback is done.
4. The other possibility is that we bounce a little today and short term and then flush down later next week to 1325 target which has been my overall objective target since 1370 for pullback. This is a good retracement and we should hit a trendline support from other lows then.

I called the top perfect on the day with blowout top to 50$ since then we had a NASTY move down in silver to 38-39 which is around 20%. CONGRATS if you shorted silver - now you should take profits and go long imho for a possible bounce retracement to 42-43$ silver. I dont think silver will make new highs - but should have a short term bounce now.

For now I pretty much called the rally since 1295 in SPX and began telling a pullback was to come - already now markets been pullbacked a lot and called the buy in TZA below 32 with targets- so overall the markets is doing what I suppose it to do for the moment- not saying I know where it will go always but I have my targets and objectives and therefore I take actions by these. I can always change my mind of markets show me something else...

The UUP or the dollar still looks bottomed and thats also why I dont think the pullback is DONE - I think a short term bounce in the dollar is to expect and then more downside in SPX and stocks yet.


So the question for me - pullback to 1335-1340 or 1325 ? After this I think we will have a massive rally and make new highs.... so be prepared to load up on long positions - but the pullback is not done imho.



Have a nice day

Intraday alert

I've got all out TZA today with big profits from 32 to near 36 ! BIG profits in just a few days.

I've bought TNA today and think its a good buy in the 84+ range and you could easy add it lower ( if it moves lower )

In for a swing play TNA

Still think SPX might see objective target of 1335-1340

Market view

Wow - what can I say - markets were down another day yesterday and if you are looking at the small caps - at one point they were down near -2% yesterday after being down over -1% yesterday.

I have really just NAILED the rally in TZA which I bought below 32 and I were up over 8% yesterday with a big position with big profits in just 2 days !

I hope you got some TZA after the call some days ago that a rally in TZA were comming and pullback were due - but at the moment where TZA stands now I'm a little bit more confused.

The small caps and semidonductors have been plunging a lot more than overall indexes lately - they are usually leading indexes so markets should most likely follow down with them soon (SPX, QQQ, Dow jones )

But yesterday because I were up so much I took some profits in my TZA from 32 and below to -> 34.5-35 range , which was a big gain in just 2 days. Congrats to all holders!

The question remains now - when I look at the 30 min and 60 min chart in TZA I would expect a pullback to 33 ( AND this was the reason I took profits - cause we are very oversold short term in markets ) so I were thinking that TZA would pullback before higher. Though the DAILY chart looks extreme bullish imo and looks like it could breakout higher - thats why I also did hold 50% overnight - cause it was a hard decision to make with the small caps.

SPX did reach 1350 yesterday and we saw a bit support at this area - most people think that this were the pullback - but I can easy see a possible little bounce from this area 1350 or around here to maybe 1360 and then plunge further down later this week or next week to 1325-1330 which is my objective targets still. So the PULLBACK in markets is NOT done imho and we have still more downside left - the question remains imo if we get a little bounce before or not.

If SPX is to follow small caps and SMH then we wont get any bounces but just plunge further down - but the 30 min and 60 min chart suggest a bounce is comming!

I'm still holding small caps and hedge with TZA , not as big position as 2 days ago as I took good profits. So overall dont be too fast to get long a lot now - cause no reason to get long at the moment as we dont have any very good signs that the pullback is done. Short term trend remains down and the dollar looks still like upside near term......which means downside for markets.

My top call in SLV from 50$ looks good and we reached 40$ thats 10 $ profit on short site and I think at 40$ its good to cover shorts on silver for the short term.

Again - I've nailed the rally from SPX 1295 to more than 60 points up and got big short positions via TZA at 1360-1370 level and now we are making profits down again. If you appreciate any of these views I hope you maybe could make a review on investimonials. This is all for free and I use lots of time working on this. Remember this is only my oppinion about the markets and no one is ever 100% - but just share what I see for now and for now - it looks like pullback is NOT done - and more to come over next 1 week but a possible bounce is to be expected soon. QQQ target is around 56-56.5 for a pullback.

Have a nice day