Wednesday, November 26, 2003
Click for DOW weekly chart.
Intraday traders will be interested in this weekly chart. The $INDU DOW Cash is up against some strong weekly and monthly resistance levels, marked on this chart in red. 9763 to 9795, and then 10011 are the levels to watch for intraday consolidation, retracements, whipsaw. This creates opportunities on both the long and short side for the nimble trader, but frustration for those who enjoy trends.
Posted by FibMaster @ 06:17 AM PST [Link]
Monday, November 24, 2003
OK I've been away for a few days, and have not posted many charts, so I'll make it up with these two!
Click for Nov 10th ProfitPoint S&P Outlook. (43k file)
The above file contains my S&P outlook as published in the Nov 10th edition of ProfitPoint, my daily subscription newsletter. Note what I said about the 1035 support level, and the ramifications for the recent up-trends.
Note also what I said about the next lower support levels. These are valid as long as the Nov 14th high is not exceeded. Those support levels will raise if that high is exceeded, so the next weeks can have a significant effect on them.
Check back here for updates.
Click for current S&P chart.
This is an updated daily chart of the S&P. See how the 1035 support level held?? I have shown the major support levels, but left off the detail Fibonacci levels for clarity. The TRSI indicator at the bottom looks ready to cross upward. If it does, there is a good chance of a move up to 1060 and possibly even 1078 in the coming weeks. There are significant weekly resistance levels in the 1069/1075 area, so I expect sellers to appear at that time..
We don't need to guess at how far it may go, just stay with the chart until it crosses back at a Fib level, let the market run! Don't exit until it shows resistance...
I'm planning an interactive Fibonacci training session on-line during the month of December. You will receive email about this when it is finalized.
Best wishes,
-Neal.
Posted by FibMaster @ 10:27 PM PST [Link]
Tuesday, November 18, 2003
click for Merlin's chart.
Attached is a 2000-tick chart for B&B look-alike potential trade. Chart for chat members to discuss.
Posted by FibMaster @ 07:03 AM PST [Link]
Click for S&P daily chart.
The attached daily S&P chart shows several important support levels marked in red, and some trend-lines too. Yesterday the S&P supported at the strong SK near 1035, which is why I covered my shorts down there. What a beautiful exit...
If this chart can maintain above the 1041 area, we can go to new highs, possibly up to weekly resistance 1069/1075 area. If not, watch those red suppotr levels for intraday short covering opportunites!
Posted by FibMaster @ 06:23 AM PST [Link]
Monday, November 17, 2003
Prior charts still stand, see last week's charts posted here. We're down towards the bottom of the consolidation channel again. Could be a great long entry on support. Very bearish if ir breaks! Breaking the bottom of the trend channel will also break a trend-line on the daily/weekly charts so could signal the beginning of a major change.
Posted by FibMaster @ 06:37 AM PST [Link]
Click for chart.
The attached image shows an RRT on the 30 minute chart (left), with detail trade execution on the 5 minute chart (left). Print this one out, it's a classic...
Posted by FibMaster @ 06:21 AM PST [Link]
Sunday, November 16, 2003
The seminar last week is archived here:
http://forms.zapfutures.com/fibmarkets_archive.cfm/
This is an intro to basic Fibs, for beginners... Enjoy!
Posted by FibMaster @ 08:07 PM PST [Link]
Friday, November 14, 2003
Click for chart.
Until the market breaks out of the 1042/1060 consolidation channel, we get more chop and slop. Short near the top and long near the bottom, but expect frustration in-between.
Posted by FibMaster @ 06:15 AM PST [Link]
Thursday, November 13, 2003
I will hold a trading seminar for 2 days at my home in Kirkland WA in January 2004. Mark your calendars for January 24 and 25. This seminar will be limited to 6 people, so send email right now if you are interested! Send email to members@fibmarkets.com I will discuss the agenda, cost etc with you.
Come to my house, learn everything I can tell you in 2 days! I have trained many traders in the past, and receive universal praise from attendees. It will probably be one of your most rewarding weekends ever.
Watch the web pages for more details, just wanted to get this notice posted as quickly as possible.
Posted by FibMaster @ 07:31 AM PST [Link]
Click for chart
The red line is the same one I placed on the chart on Monday, held very nicely! Now we are near the top of the channel as discussed in the chat room yesterday.. A nice big fat channel!! Short near the top, long near the bottom. But to not pull the trigger too early, wait for your signal of a turn. There is a chance that the market turns down a little early, as you can see with today's action. Do not be short if the channel breaks to the upside! Bullish up there until the 1069/1075 zone on the weekly chart.
Here is a 5-minute chart click for 5 minute chart.
See the support level near 1052, if that breaks, ok to short but don't be short if the S&P get back above there.. This is an intraday level that will show weakness if it can't hold.
Posted by FibMaster @ 07:22 AM PST [Link]
Wednesday, November 12, 2003
Click for intraday chart.
The attached chart is 30-min S&P.. The red line is a support line that I placed on the chart and posted here on Monday. That support is holding very well.. These predicted support levels are valuable tools for trading, check back here for updates.. The blue line is an intraday resistance level (SK). OK to trade long above that line and short below the red one.. Until the market takes out one of those, it is chop and slop (whipsaw) consolidation.
-Neal.
Posted by FibMaster @ 06:23 AM PST [Link]
Tuesday, November 11, 2003
Click for chart
Three important SK support levels for possible long entries or short covering...
This is a 60-minute chart, ignore these support levels at your own risk.
Vacation days can be low volume and difficult days, watch your pockets and be careful!
Posted by FibMaster @ 06:19 AM PST [Link]
Thanks to all the veterans who sacrifice so much, and do so much for us!
I encourage members here to consider those who have given so much,
some the ultimate sacrifice, and some who continue to experience hardships
incurred in their commitment to their people and their country.
What can you do for a veteran, to show your appreciation?
Posted by FibMaster @ 06:16 AM PST [Link]
Monday, November 10, 2003
S&P 60 min chart.
The market is at instraday support right now, the next one down is 1043/1044.
We can expect lower volumes today, with Veterans day tomorrow.
Posted by FibMaster @ 06:27 AM PST [Link]
Thursday, November 6, 2003
Click for BRCM weekly chart.
The attached weekly chart shows a bullish breakout above a significant resistance level. This chart is prime for buying pullbacks to Fibonacci levels. Lower time-frame charts may be used to determine optimum entry and stop-loss points, as well as exit targets.
-FibMaster.
Posted by FibMaster @ 07:26 PM PST [Link]
ZAP Futures Presents
Interactive Online Seminar
"Introduction to Fibonacci Trading"
Presented by Neal Hughes
Thursday November 13, 2003 3:30 - 4:30 pm Central Time The seminar will be presented by Neal Hughes from FibMarkets.com a community of traders who share ideas about trading with Fibonacci techniques. You will learn precise entries and exits using Fibonacci Techniques. Combining basic Fibonacci studies with trend indicators to predict probable turning points in the market. Most importantly this seminar will skip all the "mystique" and confusing theory so you can get down to the basics of actually applying these techniques. You will learn the basic techniques needed to refine your entry and exit timing for optimum results.
CLICK TO REGISTER FOR THE LIVE SEMINAR.
CLICK TO REGISTER FOR ACCESS TO THE ARCHIVED TRANSCRIPT.
Posted by FibMaster @ 05:50 PM PST [Link]
Wednesday, November 5, 2003
click for chart.
This chart show resistance levels on 5 min chart, if you're looking for a place to scalp shorts.
Consolidation is likely...
Posted by FibMaster @ 09:22 AM PST [Link]
Monday, November 3, 2003
Click for S&P 30 and 60 minute chart.
Use this chart as a guide to tomorrow's action, and possibly the next few day too.
The attached image has a 60 min chart on the left and 30 min chart on the right, of the S&P E-Mini. Notice the red channel on the 60 minute chart. This shows that the S&P is in danger of testing or breaking the bottom of that channel.
If that bottom doesn't hold, the S&P may begin a significant down-turn.
The 30 minute chart shows some near-term support levels. The 1055 level coincides with the 60-minute channel.So this is an important support level. If it holds, the market may be at an excellent point for a long trade in the direction of the daily uptrend.
If it breaks however, we will most likely enter a period where shorting rallies will be the preference.
Posted by FibMaster @ 09:11 PM PST [Link]
Sunday, November 2, 2003
Click for chart.
The attached chart shows the S&P daily (to the right) and 30-minute (to the left).
The 30-minute charts shows a clear consolidation channel with a 10-point range from approximately 1043 to 1053. Until the market breaks out of that channel, we get more slop and frustration. The 10-point range is great if you can catch the turns and not have severe whipsaw along the way, I wish you well..
The daily chart shows a potential double-top, and the daily tend is trying to cross up. The market needs to take out prior highs of 1053 before it can look bullish again.
I've marked near-term and longer term support levels on both charts, look to cover shorts or enter long if the market shows a bounce at these levels.
Posted by FibMaster @ 08:46 PM PST [Link]
