31-7-12 NQ premarket

Last day of Jul12!!! Yeah!

Oscar is bearish today.

US INDICES (ES, NQU2012) September 2012
Posted: 07/30/12 22:07 OST/EST
For Trade Date: 07/31/12


Update as of Tuesday 07/31/12

The last week in July leading into the first week in August is the exact same week as last year referenced in the video below. I happen to be on vacation at this very time. The setup is the same. Vacationing at the same time as last year was not planned. Coincidences are omens especially when seeking repetitive patterns as a way of life (favorite pastime of the average OMNIAC). IF the market fails to continue its advances today it will begin to crack and head the other way starting the next “leg” lower. If the market does not put in a new weekly high today and hold its gains, then you should consider selling the rallies expecting a market reversal. The video will explain in further detail.

Daily chart
Daily chart sees a breakout of triangle, and retracement towards triangle support line. Its clearly uptrend, unless price fall below the support line and into the triangle again.

60min chart
Bullish. At up channel support, now may break upwards above 2650.
Only if fall out of the up channel, and reach 2620 is considered
reversal downtrend.

15min chart
Box is 2620-2660. Same analysis as 60min chart. A small range of 30pts today will mean easier box breakout. We should be seeing a breakout tonite.

Long @ 2660
Short@ 2620


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s