June Dow Jones –The Dow futures plunged 994 points, to a low of 9840, before a short-covering rebound. The April 27th and May 3rd reversal dates identified the major highs that formed the bearish TR pattern in the Dow Jones futures that signaled the trend shift and triggered the sell. However, today’s wide range day… read more
Tag Archives: Action/Reaction
Swing Trading Strategies – Reversal date pinpoints Swiss franc reversal. [chart]
The reverse-forward count, from the TR swing pattern (March 17 – April 4), was used to project a future reversal swing date on May 6th. The “action-reaction” line also forecast a price target objective at the intersection of the down-sloping median line and the up-sloping reaction line (8920). The Swiss franc breached the target objective on the predicted date and… read more
Swing Trading strategies – Gold turns on projected reversal date. [chart]
The dramatic sell-off Gold began early Tuesday morning after the market traded to a new 5-month high of $1192.80. The market hit resistance at the 1.272% Fib extentsion before the heavy selling was triggered by the debt crisis in Greece. Gold tumbled to a low of $1156.20 on Wednesday ( a projected reversal swing date) and… read more
Swing Trading Strategies for the Dow Jones Futures. [chart]
The Dow Jones futures posted a major reversal on the April 27th reversal swing day , projected several days in advance. The reversal occurred one day after the Dow Jones futures traded to a new 18 month high of 11206. After trading at the new high, the Dow Jones dropped to support before rebounding into the down-sloping reaction line… read more
Futures broker, Update on bullish Silver swing trade. [chart]
On April 29th, I posted a chart of the July Silver with the April 28th reversal date marked as a possible swing low. I also recommended to buy the Silver at $18.48 or lower in the issue of the Traders Market Views Swing Trade report. Silver dipped below the $18.48 during the following session to… read more
Reversal swing dates for the week of May 3 – May 7
Monday – Cotton Tuesday – British pound Wednesda y – Silver, Gold Thursday – Corn, Canadian, Australian dollar, Japanese yen, Swiss franc Friday – Bean oil, RBOB gas, Heating oil… read more
Reaction swing pattern portends new rally in Silver. [chart]
A bullish reaction swing has formed after Silver dipped down to $17.85 on April 28th. The market traded had traded through the 20-day SMA on the decline, but reversed and traded up through the 20- day SMA on Thursday. The “double cross” pattern enhances the potential buy signal provided by the bullish reaction swing signal… read more
Swing trade signal confirmed in June Heating oil! [chart]
June Heating oil rallied off the low, posted on the April 28 reversal swing date. The market had dipped down into the reversal date, with two lower closes, leading into the pivot low. After finding support from the lower up-sloping action line, Heating oil ended the corrective pullback and turned higher. The new upward thrust… read more
Bullish swing pattern sets the stage for a new rally in Gold. [chart]
Gold traded above the previous swing high ($1170.70 on April 12, 2010) at the close of Tuesday’s trading session and then backed off can closed below the prior high. Wednesday’s session opens steady to slightly and traded slightly lower before surging past the pivot high for the second time. The second crossing sets the stage… read more
Japanese yen forms new reaction swing and sets stage for new price decline. [chart]
Tuesday’s one-day rally stopped short by the 20- day SMA and the down-sloping reaction line. The yen reversed at the two levles of resistance and resumed the dominate downward trend. This should set the stage for the next swing lower into the May 6th reversal swing date.… read more