Canadian Dollar - Negative Signal needs Confirmation

The Sep'09 Canadian Dollar contract took a tumble and will need to sustain a trade below the 9090 support Inflection Pivot if the negative signal is going to follow through. If so expectation are for further losses targeting 8962 and 8910 on the move. 8671 is the current extreme.

A held trade above 9090 and the currency remains stuck in a difficult digestive trade up to 9210. FADE the initial challenge a fall back into a narrow sideways trade is the outlook. Only above 9210 are the buyers back at it targeting 9366.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

GOLD - Light the fuse

The DEC'09 GOLD contract bounced back into a digestive trade but remains in a questionable position below the 950.7-949.2 Inflection Pivot. If the MKT is going to fall back into a soft spot it will struggle to maintain a trade above here. A break below 941.2 is a sign of weakness that puts the 935.3 support in jeopardy targeting 926.1 and 921 on any turn for the worse. Use caution. Emotional trading conditions are expected. 905 and 884.8-880.6 are the extended targets.

A held rise above 950.7 signals more difficult sideways action up to 963.1-961.4. Be patient. Although a reaction is expected, trading at these levels is a sign of strength. If the MKT does not quickly turn tail after a test of the 963.1-961.4 resistance and the positive momentum will start to feed on itself putting the 990.3 and 996.8 resistance back in play.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

GOLD - Negative Signal needs confirmation

The DEC'09 GOLD contract is flirting with a negative shift and will remain vulnerable to a negative turn with all trading below the 949.2 Inflection Pivot. A held break under 935.3 confirms Monday's negative signal targeting 920.9 on the initial drop. Use caution. This sell off has the potential to feed on itself targeting 905 and 884/8 on any sustained decline.

A held trade above 949.2 puts the negative signal in question and the MKT back in a digestive trade up to 963.1. FADE the initial challenge a rejection is expected. Only above here are the buyers back for a run at 990.3.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

NAT GAS - Searching For Support

The Sep'09 NAT GAS contract is a little extended and is set to press good directional support at 2.877. If the MKT is ready to stabilize we will get a reaction here. A held failure from 2.877 is a fresh negative signal that puts the contract on edge with 2.640 and 2.288 the extended targets.

A positive reaction off the 2.877 support pivot has the potential to bounce the MKT back up to the 3.240 Inflection Pivot in the session. Don't get excited. It's not time to buy any calls, as a rejection is expected. Only above 3.408 is there hope for a recovery but even that is expected to fizzle out below 4.387.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

CRUDE OIL U'09 - Not So Fast

The Sep'09 CRUDE OIL produced a positive signal into resistance at 73.14. Be patient. If the rally is going to fizzle the contract will struggle to maintain a trade above here. If so the buying has the potential to feed on itself targeting 7613 on the next move. 84.83 is the extended target.

69.85 is the Inflection Pivot keeping the positive signal in play. If the MKT is going to follow through to the upside any weakness today will bottom out above here. A break under 69.85 puts the contract back in a difficult trade down to 67.84. Only under this support does sentiment shift with 64.96 the low point for any new consolidation. 57.74 is the current lower extreme.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

NASDAQ 100 - Corrective Negative Signal

The Sep'09 NASDAQ 100 broke positive structure and will remain vulnerable to further losses with all trading below the 1592.50 Inflection Pivot. This is the high point for any buying today if the Corrective Signal is going to play out. The 1545.25-1544 support has the potential to spoil any negative turn and a reaction should be expected.

A failure from 1544 and the pressure will start to feed on itself down to the 1512.75-1504.75 support band. Tighten up your risk. If the underlying positive momentum is going to resume the MKT will build a base here. If not the sell off can extend down to 1391.75 before it stabilizes.

A rise above 1592.50 takes the MKT off edge and puts it back in a firm neutral posture with 1641 the new digestive lid.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

Crude Oil - Back on the Fence

The Sep'09 CRUDE OIL contract produced a NEUTRAL POSITIVE SHIFT signal to put the market back in a firm posture pressing its upper digestive extreme at 71.61. This is the Inflection Pivot for the MKTs next move.

A held trade below here will keep the buyers at bay and the contract in a sideways churn down to 68.84. If the coil is going to tighten the weakness will bottom out here. A failure is a sign of weakness that puts the 64.00 support target in reach. Use caution. Although a bounce is expected this sell off has the potential to feed on itself down to 55.46 before it stabilizes.

A held breach of 71.61 is needed to bust this MKT out of neutral and back into a Bull Trend mode targeting 76.11 on any new advance. Expect a reaction at resistance. 83.66 and 84.72 are the high points for any positive push out of the current levels.

JS

This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.