Euro - Trading At An Important Level

The Euro vs the U.S. Dollar has been rallying sharply over the past few days but has not bumped up against a powerful technical resistance level.  This level is comprised of several factors. The low from last July which was once support should now act as resistance. Today's high coincides with a 50% retracement level of points A to C and a .38% retracement of points B to C. This combination of

Stocks Test Resistance

Stocks were up again today with the S&P now testing key resistance. You'll notice the market put in a doji formation which is an indication that the S&P may sell off or at least consolidate. If you look carefully at the above chart you will see that this Doji formation has identified some of the recent tops we have seen over the past few months.
The stochastic oscillator is also in the

Bonds Fail At Resistance

I'd like to make a quick update on the bond market. Above is a weekly chart of TLT. Last week this market formed a weekly bearish engulfment pattern at key resistance. This is a powerful combination and in my opinion I feel the bond market will be heading south in the weeks to come. A move to new highs would negate my bearish outlook. 

Gold - Sitting On Key Support

Above is a weekly chart of gold and in the lower panel is the stochastic oscillator. This market has been in a beautiful uptrend making a clear series of higher highs and higher lows. Right now GLD is testing a very significant support level which is comprised of trendline support and the high from last May.
You'll notice the stochastic oscialltor is in the buy zone and over the past 3 years

Stock Market Update

It's been awhile since I've posted on here so I fugured it's time for an update. Many of you have been writing to me wondering why I haven't posted on here for quite some time and the reason is simply because trading is my passion not blogging. Having said that lets get right to the charts.!
Above is a daily chart of the S&P 500. As you can see the market is now testing some minor resistance at

NASDAQ Rally Stalls At Resistance

Above is a daily chart of the NASDAQ (QQQ) over the past 9 months. As you can see this market has been in a trading range for most of the year.  Just recently we tested the top of this range and failed to break through resistance.
This has been a very difficult market to trade primarily due to the fact that traders are reacting to every bit of fundamental news that comes out regarding Greece. I

Stock Market Update

OK, a lot has happened since my last post so lets get right to it. As you know I've been bearish on stocks and had a very large short position. The trade was actually working nicely for about 2 days but then things changed in a dramatic way.
Out of nowhere stock exploded higher and before I could even blink my profits were gone. Just two days later I was sitting with large losses which continued