your #1 site for FREE swing & day trading content
|
|
|
Guesstimates on July 24, 8:15 am ET
Spiders - September S&P E-mini Futures: The market reached resistance at 1290 yesterday and I think the next development will be a break of 40-50 points. Support is still at 1239. I also think the market is in the early stages of a rally which will carry it to 1500 over the next several months. insert.a.chart.TLT QQQ: Support remains at 44.00. Resistance stands at 47.50. During the next few months the market should rally to 55 or higher. TLT - September Bonds: The trend has turned downward once more and the bonds are headed for 109. September 10 Year Notes: The trend has turned downward and the notes are headed for 108. Euro-US Dollar: The trend has turned downward in the euro and I think the market is headed for 135. Dollar-Yen: A rally to 112.00 is now underway. Support is at 105.00. XLE - OIH - USO – September Crude: Crude broke below 133 support so I think that it is now headed for 100. The 133 level is now resistance. GLD - August Gold: Gold broke below 935 support yesterday so now I think it is headed for 750. SLV - September Silver: A break below 1750 support will mean that the market is headed for 1250. Google: The 460-80 range is good support and I expect the market to hold there and begin a move which will carry it over 750. by Carl Futia (CarlFutia.com) Disclaimer: Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests. Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk. There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital. |
|
|||||||||||||||||||||||||||||||||||||||
|
