EURGBP - BEAR TREND CORRECTIVE SIGNAL

The EURGBP is doing its best to impress but remains vulnerable to a negative turn with all trading below the 8595 Inflection Pivot. A held rise above 8595 is needed to give the positive signal any credibility targeting 8734 and 8868 on any held advance. Don't buy into it. A rejection is expected on the initial challenge.

Trading below 8595 keeps the MKT in a soft spot down to 8436 with the potential of slipping as low as the 8308-8235 support band. Opportunist will no doubt find value here, however an emotional advisory warning is the forecast. 7743 is the low point for any sustained decline.

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.

SP500 - Pressing Resistance

The SP500 U'09 contract is challenging its initial resistance target area at 1018-1014.50. Expectations are for a reaction off this zone. Either a rejection down to the 973 Inflection Pivot or an acceleration up to the 1049.75 and 1078 targets.

To reduce the potential for any profit give back on a net long equity position a short futures, bear option strategy or long ETF [FAZ, SDS] position can be executed with risk parameters implemented above 1018 in the Sep'09 SP500 futures.

Expectations are for the MKT to make a decision by Monday afternoon.

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.

Natural Gas U'09 - Corrective

The Sep'09 Natural Gas contract is stuck in a corrective trade but will remain a positive opportunity above the 3.803 Inflection Pivot. Look for opportunity starting at 3.868 down to 3.803 expecting the rally off the recent lows to resume targeting 4.575 on any sustained move. 4.069 is the positive trigger for the current forecast.

A break under 3.803 puts the contract back in a messy digest with 3.537 the low point for any new consolidation. Only under here are the aggressive sellers back.

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.

British Pound U'09 - EXTENDED

The Sep'09 British Pound jumped higher and is pressing the extreme. Key off the 17008 Inflection Pivot today for an indication of the session tone. Below here the currency is vulnerable to a drop back into a digestive trade down to 16694 on any hard hit. Be patient. This is the low point for any selling if the positive momentum is going to pick back up. A failure here and the aggressive buying takes a break down to 16263.

A trade above 17008 will have the contract in a euphoric state. Respect the bid but accept REVERSAL signals off 17008. 17147 and 17364 are the targets for any new gains today and good points to employ exhaustive sell strategies. 17569 is the upper 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.

SP500 Hedge - FAZ and SDS - Timing is Everything

The leveraged short ETFs FAZ and SDS are a tools to manage profit give-back for a net long position in the SP500 or an equity portfolio with a high correlation to the index. These ETFs are timing tools good for a 1-week window event horizon. This week has all the makings of an opportunity to incorporate these tools into your trading plan.

The SP500 has been on a roll and will maintain this posture above the 973.25 Inflection Pivot targeting the 1014.50-1008.50 resistance band. Expectations are for a reaction from this area presenting a buying opportunity in the FAZ and SDS contracts. Have a defined risk plan on what you are willing to pay for this "insurance". If the Sep'09 SP500 futures starts to hold a trade above 1017 its likely the current Bull trend move has the potential to extend up to the 1050 to 1078 zone before it exhausts. This will be another area of opportunity to execute this strategy.

What type of volatility is going to play out this week remains to be seen, however positioning into the employment release on Friday should provide some play . The VIX above 2400 does have the potential for a pop so use this as a guide.

A break under the 973.25 Inflection Pivot will have the SP500 Index vulnerable to a corrective turn targeting the 939.50-937 support band on any set-back. 962 is the confirmation point for any break in momentum. This sell off does have the potential to extend down to 901-896 without altering the underlying positive sentiment. If the Bull run is going to keep pace either of these support areas will prove a base for the next advance and act like a pivot to work any SDS or FAZ position. Only under 892.50 is there a real threat of a sentiment shift in the Index

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.

USDCAD - Vulnerable

The USDCAD is on edge and threatening. 10886 is the Inflection Pivot keeping the MKT in an aggressive sell posture. Look for FADE and REVERSAL opportunities in the 10886-10855 zone. Things do have the potential to get emotional with 1.0320 the extended target for any new trend move south. Look for immediate support today at 1.0697-1.0687 if things start to unwind. 10766 is the current confirmation breaking point. A rise above 1.0926 negates this opportunity.

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.

USDJPY - Flip Flop

The USDJPY switched gears bouncing off support and producing a positive corrective signal. This MKT is fighting higher and corrective states can be erratic. For now key off the 9460 Inflection Pivot for an indication of the session tone. Above here the positive signal is in play targeting 9568-9562 on any upside follow through. Be patient. If the rally is going to fizzle it will here. A held breach and the positive momentum can carry as high as 9719-9700 before it exhausts.



- A break under 9460 signals this MKTs intentions of going nowhere. Time to look elsewhere for opportunity as they only thing going on will be lower premiums.


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.
Posted by John Slazas at 10:16 PM 0 comments
Labels: FOREX: USDJPY