Maverick could you post some intra-day levels on the NQ from today and a few thoughts?
The ACD Method
- Thread starter sbrowne126
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The number lines take first priority and I don't have those so keep that in mind. The monthly A down is 411. Good chance we tag that. The weekly is 416. Since we already confirmed a QTR A down, I doubt any levels are going to hold. If the spoos "should" roll over at some point, this stock will hit $350 in a heartbeat.
Sure. Coming into today we had a +2 on the 5 day. And a +16 on the 30 day. Strong uptrend still in tact. The weekly A up is 2761 so that is always a target. The intra-day A up was 2751. We traded up there and failed almost to the tick this morning. We re-tested it again later and failed a 2nd time. Then the third time we exploded through it. The monthly A up is 2782 so that also becomes an upside target.
I know none of you guys probably trade cotton, although there is an ETF for it, but of all the commodities, it's the only one bid. Nice breakout the last few weeks. The QTR A up is 79.82 which we blasted through. Coming up to the monthly at 87.33.
GBP/JPY bounced nicely off the QTR A down around 137 and did a complete re-set on the 30 day number line thereby completing it's consolidation phase. Cable is showing a nice bid here across the board. Put in a massive +3 reversal today on the dollar and is currently sitting right at the weekly A up.
And one last ticker for you home gamers, GOOG is breaking out big time. We closed above the monthly A up today which is 819. It's the 2nd day of the month! The QTR A up breakout was back at 773. Also closed above the weekly today at 820. And yes, it's at an all time high. I don't have the number lines on me but I'm sure of two things. One, it's impressive. And two, it got you long VERY EARLY in the move.
Thanks Maverick, great stuff as always!
Yen pairs all breaking out again. I'll give a breakdown over the weekend.
Time for a weekly recap. Most of the action this week was in the currencies.
The two strongest pairs are the USD/JPY and AUD/JPY. Both breaking out above their monthly A ups to new 52 week highs. USD/JPY has a +10 on the monthly and AUD/JPY +8. These are very strong monthly numbers and confirm the monthly breakouts. On the 5 day we have +8 and +6 respectively. So that confirms the momentum. And on the 30 day we have +14 and +9 respectively. Neither one hit their re-set so this is still part of the original trend.
The two strongest pairs are the USD/JPY and AUD/JPY. Both breaking out above their monthly A ups to new 52 week highs. USD/JPY has a +10 on the monthly and AUD/JPY +8. These are very strong monthly numbers and confirm the monthly breakouts. On the 5 day we have +8 and +6 respectively. So that confirms the momentum. And on the 30 day we have +14 and +9 respectively. Neither one hit their re-set so this is still part of the original trend.
The spoos confirmed a monthly A up at 1532. The monthly is a +6 and the 5 day is +2. The monthly confirms the A up and the 5 day finally shows some waning momentum. In other words, a breather. The 30 day has pulled back from +16 to +6. There are two things that would stop the trend. A -5 on the 5 day or a re-set at zero on the 30 day. As I have said before, stopping the trend does NOT mean the trend is over, it simply means we have gone from uptrend to sideways. From there we could resume the uptrend or establish a downtrend.