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IMO it is a congestion, price yo-yoing between averages, but getting closer to an impulse wave.

Monthly SPX. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2947810>

I am not going to swear by 1,200, afterall weekly trend is still down. But consider this, SPX 2009 Hi was 1,132.6 I believe, 2010 Hi was 1,220. So if SPX takes out 2009 Hi & we get a weekly or a monthly close above it, then next magnet will most likely become 2010 Hi=1,220.

IMO 1,200 SPX is next major target. Weekly TICK is bullish, weekly histo is in bullish turning point pattern. Probability of QEII apparently has gone down to 50% probability.

Check out Eur/Aud & Gbp/Aud, wicked pa

New trade EUR/AUD range 1.3896-1.4042 Now Short 1.3875 @ £2 per pip Reverse order 1.4042 @ £4 per pip

Bull's idea is to start trading above 200 SMA & 2010 open IMO.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2946329#post2946329

Talking of turning points http://www.elitetrader.com/vb/showthread.php?s=&postid=2946329#post2946329

Daily <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2946333>

Monthly <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2946330>

IMO USD/JPY is at a turning point. Technically it's still in a down trend, but look at Daily & Monthly charts. 80 (just below) is a historical all time low. There is a triple divergence on Monthly chart, which could be a quad one when/if 80 is re-tested. Price action on Daily is showing tighter...

After a string of weak economic reports, Fed chairman Ben Bernanke sent investors into a tizzy on June 20 by telling Congress the economic outlook was "unusually uncertain," which was backed by the August 10 Fed press release that outlined the Fed's decision to keep its current balance sheet...

Buy1Sell2 said once that he is more of an investor than a trader because of holding periods. Also, he wasn't using leverage. When you do that you can afford bad entries when trading commodities (like sugar). People like JR do it successfully. Great 'no heat' entries are a must for highly...

This journal has become too censored for my liking, what's with deleting posts that were relevant? Adios.

2/3 +4.25

S1102.5 s1103.75 (intraday) Edit: sl to 1104.5

Admirals selling their shares & options, upside is limited.

In Japan rates went to 0.44%, so if QEII is to materialize, then why call top in 10 year notes?

Everybody talking QEII, but to get it economy has to weaken, so do they have to orchestrate a sell off to get free money again? I will have to sell mother in law to finance my long position for part deux ;)