Webinar

We took a good look at July Silver, since it looks to be quietly consolidating for a major push. There were some promising ways to get long ahead of the move, and we examined them in detail. We also found a short in the E-Mini S&P that was in the process of delivering gains of as much as $500 per contract within the hour. Any rally that followed and which exceeded the ES target at 912.25 was all but guaranteed to reach 917.75, or possibly 933.50, for reasons made clear in this video. We also touched on some of the ways in which Hidden Pivot analysis can help bring us to a basic understanding of the psychology of the market.

We took a close look at Goldman Sachs' charts, since the stock holds the key to the bear rally begun in early March. We then found a corresponding rally target in the E-Mini S&P that was not far above existing levels. Finally, we discovered reasons in May Silver's chat to be more bullish on June Gold. A target identified in Gold came within $1 of nailing the high of a preditably weak rally.

It was a dull morning on Wall Street, so we focused on trading in boring, trendless markets. June Gold promised to deliver a very tradable, $8 rally never theless -- and later did -- while the E-Mini S&P appeared bound for a midpoint resistance or higher. We also contemplated a buoyant Industrial Average that was headed for an imminent trend failure. Were there clues?

We looked at option spread strategies as a way of leveraging targets in certain stocks, including Google and Microsoft. On the futures side, we saw that High Grade Copper's rally is well nigh unstoppable, but not so the E-Mini S&P, which will face daunting resistance not far above.

We looked at the E-Mini S&Ps, Gold and Wheat futures on a day when big opportunities appeared scarce. Even so, there were a couple of good "camouflage" opportunities that would have allowed nearly riskless speculative entries with-the-trend.

This session looked at the Mini-Dow and S&P, June Gold, Natural Gas futures and Coffee. We found something immediately tradable in each.

Fed ‘news’ sent gold into spasms, but there was no confusion for us even though we had two possible targets to bottom-fish: Symmetry settled the issue. In the E-Mini S&P, we considered some lows made less tradable because they coincided with prior lows. The one-minute chart didn’t give us enough information to squeeze off camouflage trade, so we dropped down to the tick chart, where the action is more frenetic but almost always rewarding. Finally, we discussed some ways to find entry spots where we would not be plagued by competition.

We looked first at a chart of AngloGold, and although our initial thought was to buy the stock at a ‘D’ pullback target, we held back because AU looked liked it had more correcting to do. Contemplating another chart, we discovered that the E-Mini S&P had impulsed overnight within a 10-day uptrend that was easily visible on the hourly chart. A morning shakedown made us eager to buy a nascent C-D leg. Our options were twofold: buy at the swing low of the countertrend; or wait for a camouflage opportunity on the first ABC pattern of the bounce.

We spent some time making usable sense of the E-Mini S&P’s vacillations in a strongly bullish trend. Is there a way to avoid false triggers? Indeed there is, provided you have the patience and diligence to find the warning signs on the lesser charts. On request, we also scrutinized charts of Kraft and UNG, finding relatively riskless ways to buy the latter even though it had been falling hard. We also considered the possibility that, over the next 3-4 years, global liquidity will dry up, making it increasingly difficult or even impossible to trade.