Monday, December 3, 2012

Mon Dec. 3

Gap up again.

Trend up Market Signals.

/cl  bottomed at 5 am -- ran 97 ticks.

/tf  bottom at 2:45 am -- ran 130 ticks.

/cl - pb and 2nd push to new high  89.63  ---   strong.  89.80 - is first major double top area.

/cl - hits 89.88 -- stophunt.  PUKE candle.  89.97... 

/tf - straight drop to O/N lows -- perfect move.

/tf  down to 818  - -- 110 TICK drop! 


99 ma  on top - -/tf now in downtrend -- brief pop to 34 ma -- but now required triple bottom to get long.

/cl - bounce -- will soon create triple touch.

/cl  - spot on triple touch -- then 10 min. later -- fast drop --  Have to be willing to hold on, even if it doesn't drop immediately.

/cl drops 90 ticks after 3 bumps....

midday -- well... the morning pop and rip - now we're balanced here -- gotta wake up early.  Should be done by 11:20 ideally.    Afternoon is probably not going to be anywhere near as good for trending markets.

midday -- /tf -- sloppy double bottom for about 25 ticks.

short  /6e  paper --  on 3 bump set up on 5 min chart -- extended --

market breaking lower....     6e holding up for now.




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