Nemo's Findings Week of June 10th 2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html


The week that was in IWM SPY:

• "The broken clock is right twice a day" principle struck this week (o.k., in my case-once) when I said in the video last week that the confluence of levels, on the IWM could serve as support much as a net, and they did.
• Perhaps more interestingly is that both SPY and IWM bottomed at, or within .$.10 of the monthly S1
• Notice SPY maintained the upward trend it began at the bottom, so, "The trend is your friend".  I'm not yet seeing definitive weakness on higher time frame charts
• We are in a short term channel, arguably Inverted Head & Shoulders on both IWM and SPY, the descending 50 day SMA likely first targets.
• Going out on a limb here for Monday:  we gap up massively...

On a more macro note:  It's all Europe all the time. A premise I hold, which is hardly original, is that political solutions are almost NEVER the best operational solution for a given problem.  

Europe faces the decision to either subsume their cultural identities, which have been formed over centuries, to create a monetary/fiscal union where each culture answers to some central authority, or face some type of break up of the Euro.  Whether it's the weaker countries leaving, the stronger countries leaving, or the total dissolution, is up to the powers to be...which brings me back to my premise... 

"But Captain, I think the deck chairs would look better this way..."

Here are the images for next week:

  

Nemo's midweek update

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

A short video on how the levels are playing out: 

http://youtu.be/ozXHb7M6m44

Nemo's Findings for the week of 5/20

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html 

 Here's how the IWM/SPY levels played out for the week.  See the arrows?  Somebody out there should be making money of these......

 Here are the levels for next week (btw...no sign of capitulation volume yet):

 Here's a link to my "panel" layout in Freestock charts (btw...I may have overcome the bug displaying trend and level lines in lower time frames):

 http://www.freestockcharts.com?emailChartID=f0e30758-09db-4841-8b74-08f15553a862

Here's the original post explaining the approach:


http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html

Nemo's Findings for week of May 13th

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Here are the levels for next week:

 Here's a midweek review of how the levels were working through last Wednesday:

http://youtu.be/GOJ3zLjbYl0

Here's the original post explaining the logic:

http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html

Nemo's Findings 4/30 monthly update

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Here are the new levels for month with yesterday's weeklies:

 

Nemo's Findings for the week of 4/15

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Here are the images:

The original post:

http://tradinglog.realitytrader.com/2011/09/nemos-findings.html

Nemo's Findings week of 4/8

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html

 Here are the levels for next week:

 Here is a look at the daily on SPY.  Notice how the Yearly R1 was acting as support, well until the jobs report came out on Friday

 Here are the gap areas I've identified on the daily:

 Here's the daily on the IWM:

Here are the gap areas on IWM I see:

 

Here's the original explanation:

http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html 

Nemo's Findings for 3/24/2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Here are the images for next week:

Here are the links:

http://www.freestockcharts.com?emailChartID=b692f4b6-9d3c-4983-99a0-5969213bd586

http://www.freestockcharts.com?emailChartID=25409ff7-7eea-4db1-a714-3dfe5d674c8b

http://www.freestockcharts.com?emailChartID=1ed6edaa-db87-4c60-b40d-ec940c07d86e

Now, somebody said they were having a problem with all the lines on the chart.  Well, I never use it with a setting above a 15 minute chart since we're daytrading off of it.  For instance, this is what I look at all day on one monitor:

The only arbitrary lines on the charts will be green, and those are subjective levels or trend lines.  I put them there for a reason (which, of course, may only be reasonable to me).  You'll notice the green line where IWM's price action bottomed (at daily S2), that line has been there for a while(check the hourly view on IWM if you import the format).  You can remove those or trace the origin back to where they start and see if you can figure out why I have them there.  (If you do figure it out, that means you have an insight into my mind, which is a very dark place, and you should likely seek professional help immediately). 

Now where did I put that lithium?  Oh, the frickin' bunny took it...

Here's the original post that explained the approach:

http://tradinglog.realitytrader.com/2011/09/nemos-findings.html

Nemo's Findings for the week of 3/18

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Here are the images:

 

 Here are the links:

http://www.freestockcharts.com?emailChartID=156a3477-962f-4957-ac17-d6d391d392da

 http://www.freestockcharts.com?emailChartID=950a506e-eba4-41d2-96a1-50d36f2c2830

http://www.freestockcharts.com?emailChartID=5277aa0f-66e7-4756-a589-c745024eb3ed 

Here's the original post explaining the approach:

http://tradinglog.realitytrader.com/2011/09/nemos-findings.html

Nemo's Findings for week of 3/11/2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html


Here are the SPY and IWM levels:

Here is a short vid:


http://youtu.be/oiQcMq3slck
  




Here's the explanation from the original post:

http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html

Nemo's Findings for week of 3/5/2012

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Here are the images for next week:

 
 Needed to feed my ego so here's a vid:


http://www.youtube.com/watch?v=GPkiVGUXjGI&feature=youtu.be

The original guide :

http://tradinglog.realitytrader.com/2011/09/nemos-findings.html

week of 12/20 SPY/IWM Multi-time frame updates

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

 Here are the images for next week:

Here's the outline post:

http://tradinglog.realitytrader.com/2011/09/nemos-findings.html

Nemo's Findings for the week of 2/11

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

 Here are the images:

Nemo's thoughts (be very afraid):

...Not really...Anyway, if you look at each of the diagrams, you'll see Friday formed what is arguably a classic double/triple bottom in all three.  Friday's drop, arguably, resulted from the Greeks repudiation of the then current debt deal.  

Imo...expect there to be an announcement of a deal probably before the market opens on Monday so only futures traders will get to take advantage of the subsequent rocketing of the indices, and we equity folks will be sitting on our hands (I enjoy the palms up position) in a major gap up Monday, bored out of our chairs with the lack of trades.  Having said that, if the indices do not react that way, then the downside becomes a higher probability.  

As we can see from these 15 minute charts, IWM is falling somewhat (or is it a bull flag?) and SPY and QQQ are flattening.  No surprise after the run they've had.  IWM peaked out at about 39% gain since Oct 2011, the SPY and QQQ about 26%.  Looking at daily charts, no trend is yet in danger.

Looking at levels of support and resistance 137.00 to 137.40 looks like the area of greatest resistance in the SPY...that is likely the next test. Below, there are no major confluence areas until we approach the  131 area and then the monthly pivot.  The IWM is the canary in the coal mine for risk-on or risk-off.  As I said, it's been flagging.  Now, is it a bull flag or the start of a pull back?

Here's the link that describes the process:

http://tradinglog.realitytrader.com/2011/09/nemos-findings.html

Nemo's Findings for the week of 1/8/2012

Super-saver Combos available now: http://www.realitytrader.com/supersaver.html

Here are the images for next week.  I'll keep doing the Qs until I get lazy:

Here are import links:

http://www.freestockcharts.com?emailChartID=3a0c34f6-01a5-4cbf-999b-9445fd3dd370

http://www.freestockcharts.com?emailChartID=d7d9a1f0-6cac-4788-adae-98f2f31eddca

http://www.freestockcharts.com?emailChartID=fe13dd04-b2ae-4c93-8db9-77e87c9e81aa


And here is a short video on an orgasmic setup this week:

http://youtu.be/KBpoKzzsobc

Nemo's 12/21 Midweek Findings

ATTENTION: new course on chart patterns is available now: http://www.realitytrader.com/111trades.html
A level plays out.  A tried and true trade there for the taking for 3 bucks!!!

Here's the Vid:

http://www.youtube.com/watch?v=2tyPTaaI-Kk