Wednesday, June 24, 2009

looking for a bottom


904.81
906.04
908.03
910.51
spx
899.61
898.38
896.39
893.91

Market is searching for a bottom in the upper 800 area of SPX. We need to be alert as short term traders and trail the stops. Asset allocators should look at their asset picture and add if underinvested and subtract if overinvsted.

41 comments:

xerxes said...

Good Morning Dear Boris....

I noticed that the trend chart is unchanged for eurusd from yesterday...I see it a bit differently :-)

boris said...

Dear Xerxes,
Trend chart did change.
Thanks for reminding me.

The weekly did not change, but daily has.

Thanks Dear Xerxes

xerxes said...

Dear Boris....That new configuration is very bullish for eurusd...you told me that once :-)

boris said...

No, Dear Xerxes,
It would be only very bullish, once the weekly changes.

It is Ok, not the weekly bullish is a foundation, without which the strength is speculative.

GOod Trading Dear Xerxes

xerxes said...

.....without which the strength is speculative.....

Speculation...isn't that what this is all about :-)

xerxes said...

Dear Boris....Despite a small decline in WTIC, the daily hasn't gone below it 13 EMA since April...
If oil is leading the way for antidollar, the buck hasn't a prayer...and with the fed blabbing today there probably isn't much hope for the buck either as the first 10 items on their daily to do list is to trash the buck :-)

xerxes said...

Dear Boris...we ran out of turn dates

boris said...

We will replanish the turn dates soon, Dear Xerxes,
STay tuned

Good Trading.

Meanwhile , you may want to key from the YBR, dates

Good Trading Dear Xerxes

Mike Truong said...

Dear Boris,

Another gift from CHF just now?

Good trading dear friend,

Michael

boris said...

Do we think suckers are in force
Manipulating the markets ?

2.5 Points up on swissy yesterday and 3 points down today

How do you like that for speculation( and indicision) Dear Xerxes

boris said...

Deaer Michael,
Good Morning.
I knew that yesterdays move did not fit anwgere in our calculations and came out of the blue. Of course this one just corrects that BS of yesterday, but it is in the right direction towards the date we mentiooned often in our Market Comments

Good Trading Dear Michael

xerxes said...

Dear Boris...Franc just lost 70 pips...Exhaustion candl on hourly??

boris said...

Dear Xerxes,
Frank is shlapped around like a ...

I will refrain from saying it.

I do not trust moves like this. I did not trust one yesterday and told you to be careful with euro today.

Shaks, finantial machinators are our in full force.

Good Trading Dear Xerxes

xerxes said...

So, are you suggesting Dear Boris, that the last turn was designed to turn us inside out? :-)

xerxes said...

So, are you suggesting Dear Boris, that the last turn was designed to turn us inside out? :-)

xerxes said...

So, are you suggesting Dear Boris, that the last turn was designed to turn us inside out? :-)

Wanderer said...

Dear Boris,
Good morning.
You mentioned the YBR dates.
The most recent copy of the YBR that I have is dated March 25 and ended last Thursday, June 18.
Will we be receiving an updated version of the YBR/WBRchart (and antidollar chart) soon?
Thanks and good trading.

Bert - Back to normal sleep patterns... for now:)!

boris said...

Dear Bert,
All one year and more subscribers got the YBR for 6 months ahead and that was around 6/1 ! ? (:-

I wonder how you did not get it.

I just resend them for you.

Good Trading Dear Bert and it is good to have healthy sleep schedule

Wanderer said...

Dear Boris,
Just got them. Thank you.
We seemed to have had a small problem with my subscription at the time of renewal. That would explain my not having received the charts at the start of June. Delighted to have them now!
Thanks and have a great day!

Bert

boris said...

Yes,
Good memory Dear Bert,
Sleep heled(:-

Yes, indeed, we had a problem of using your non gmail email!

Good Trading Dear Bert

boris said...

emini116 is on its way to you Dear Subscribers

GOod Trading

boris said...

Dollar On a strong counter attack!

Good Trading

xerxes said...

Yes Dear Boris...160 pips weaker than yesterday's high :-) It's making progress at least :-)

boris said...

Dear Xerxes,
Factually spekaing Dollar as an index is much stronger than the USDEUR chart would indicate.

EURO is only 57% of the pot.

Regardless, The quick turn like this, with out projected dates suggests that at best we are in the broad trading range and Dollar maybe able to do even better sometime next ...

Good Trading Dear Xerxes

Wanderer said...

Dear Boris,
Thanks again for the charts.
Looking more closely at the seefuture chart it appears to me that where you have marked mid August is actually late July and that where you have mid October is really the start of September - hence three months from June 1.
Have I got that right? If so, you have probably already addressed this point, but I was just looking for a little clarification for myself.
Thanks a lot and good trading.

Bert

xerxes said...

Dear Boris...Trading ranges are the best for building equity but they never ring a bell when they decide to exit the range :-)....The USDX is up about 1/2% and EURUSD is down about the same....I see the buck fighting for its life, trying to claw its way up the mountain a bit, before Mr. Single Currency grinds its heels into the fingers of Mr. Obummer Bucks and shouts out..."Hasta La Vista Dollar Baby" :-)

boris said...

Dear Bert,
I am not sure why do you think what you state. I would ask not to look at Dates at all. They are not good. Just look at the points indicated and go by counting weeks back and/or forth from there.

The indications are correct. Mid August may be called an early/mid August, but basically the nomenclature is correct.

Dear Bert Enjoy and Thanks Dear Friend

GOod Trading Dear Bert

boris said...

Dear Xerxes,
Thanks for your astute input

Good Trading Dear Xerxes

boris said...

Fed had managed market down?
That will be something new?

In any case please watch the value bracket, Dear Subscriber.

You know if we get into it , then we could really, really go down.

Good Trading

Wanderer said...

Dear Boris,
Thanks for your quick response.
I wasn't looking at the dates along the bottom at all.
I took the date of the chart (May 31), counted each blue dot as one week, and added 8 and 13 weeks to come up with the indicated dates.
It seemed to make sense as it is a 3 month chart. So, if it started at June 1, then it would finish at Sep 1.
In any event, even if my start date is incorrect or my count is off, the general pattern is clear!
Thanks again and good trading.
All the best to you dear friend.

Bert

boris said...

Watch the value bracket, Please,
Dropping there and holding could cause disaster today.

Good Trading

boris said...

Dear Bert,
Thanks.

Good Trading Dear Friend
Please remember to take into account the moves that have been already made.

They will dictate to what extent is the pattern going to continue being followed.

If the move already made discounts further moves then we may have little follow up on the curve.

Good Trading Dear bert

Mike Truong said...

Boris,

I left you a message on dotnet site. Thanks,

Good trading dear friend,

Michael

Wanderer said...

Dear Boris,
A little more art in the numbers (or charts in this case) - Beautiful!!!
It all becomes clear(er):)!
Thanks again.

Bert

Mike Truong said...

Dear Boris,

Interestingly EUR is right back to where it was on Sunday night/Early Monday.. It lost all of its mojo for this week in about 4 hours of trading...hmmm

Good trading dear friend,

Michael

boris said...

Dear Michael,
Thanks for the question.
Answer Posted.

boris said...

Dear Bert,
Thanks Dear Firne

boris said...

I meant Dear Friend Bert
Good Trading

xerxes said...

Dear Boris..."Thanks for your astute input"....It wasn't astuteness Dear Boris...Just a whole lot of BS :-)

boris said...

Nobody gets to the astute stage before goint through the BS stage Dear Xerxes.

Good Trading My Dear Friend

boris said...

From Dear John,

GOLDMAN EATS YOUR LUNCH and BREAKFAST AND DINNER

Thanks Dear Friend John,
Good Trading