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.

XOI (Oil and Gas Sector Index) - Negative Signal into Support

The Oil and Gas Sector Index XOI produced a negative acceleration signal that has the potential to set up a buying opportunity today off the 933-930.95 Inflection Pivot area. All trading above here keeps the underlying sentiment positive. A break under 930.95 confirms the negative signal and breaks positive structure targeting 914.71 in what is expected to be a quick drop. Be patient. If the MKT is going to stabilize it will here. A failure and further losses down to 870.93 is the outlook.

Use the 941.88 level as a sentiment gauge for the session. Below here the buy opportunity down to 930.95 is in play. Above 941.88 and yesterday's negative is signal is suspect with the potential for a positive turn up to 960.54 and 969.69 in the session. Be patient. If the XOI is in for a sideways trade this will be the digestive high point. A BREAKOUT above 969.69 is a fresh positive signal that has 1008.85 as an immediate target.

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.

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.