Monday, September 12, 2005
Issue Contents:
| 09:25 | The Day Ahead Economic releases and news |
| 10:31 | Schedule This Week |
| 10:39 | Sneak Peak Clients only |
| 12:29 | Sector Analysis: Crude Quick Take Market Direction |
| 16:15 | TrendVue Trader Talk Today's transcript. |
Good morning, today is Monday September 12th, the 255th day of 2005.
With no economic news to note today, but a packed economic calendar look forward to, or brace for, during the the balance of the week, traders may choose to use today to take a few profits and otherwise ready their portfolios for what the weeek will bring.
Dow 30 industrials are nearing an important swing high which may prove to be resistance or may just as well break and prove to be the fuel to drive this market significantly higher in the short term. We’ll be talking about market direction a lot this week.
With no less than five significant market-moving reports due, plus the energy picture, plus the Philly Fed survey, its likely the week will prove to be extremely volatile.
Work continues on the new web application; by the end of this week I expect our publishing schedule will be back to normal or close to it.
A small selection of swing trades will be posted this morning; given this week’s packed economic calendar we will want to be particularly conservative with our protective stops and be sure that outstanding positions are well protected. Enjoy any upside the market has to offer, but please, do not assume or expect that it will continue. Cautious optimism might be a good mental stance to take.
In the meantime, we are stalking market shorts here as price makes an attempt to break out higher, just in case…
I’d like to invite clients to check out an early release of our new web interface which I’ve put up solely to get some feedback on the interface. Within a day or so we'll be running both the new and old site simultaneously, and then will move (flip) the old and new sites around, making the new application Trendvue's face to the world.
Visit the temporary application home (beta site) at http://www.trendvuecapital.com/
Please note:
- Until noted otherwise, all new content will continue to be available at http://www.trendvue.com/
- Any changes made to your account on the beta site will be lost when the final migration is done.
- The beta application will be up and down like a yo-yo, don't be surprised if you see messages such as Internal Server Error or the like.
There is much under the covers in the new application that you can not yet see. One of the features that I quite selfishly want to complete in the near term, as it will make my life much easier, and I expect readers will appreciate equally as well, is a new “setup” tracking system that will show all valid outstanding setups (both the current day’s and prior days).
Sector Analysis: Crude Quick Take
CL, daily
Crude is retesting the prior significant swing low from back in August. If buyers can’t find a reason to step in here, the weekly chart identifies the round number $60 as a likely next target:
CL, weekly
Its not uncommon for markets to take a long pause after three significant pushes higher, particularly after a relatively fast run up. If the retest noted on the daily chart fails, we can expect the related sectors to shed some of the recent gains fairly quickly.
Today's transcript.
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