**Overnight Markets and News**
*Dec E-mini S&Ps (ESZ18 +1.45%) this morning are up +1.50% and European stocks are up +1.64%, both at 3-week highs, as global stocks soar after the U.S. and China agree to a temporary truce in their trade war. Automakers and mining stocks rallied after President Trump tweeted that China agreed to "reduce and remove" tariffs on imported American-made cars. Dec COMEX copper (HGZ18 +1.80%) jumped +1.78% to a 1-3/4 month high on improved demand prospects for industrial metals. Also, energy stocks gained after Jan WTI crude oil (CLF19 +3.97%) surged +4.22% to a 1-week high when Saudi Arabia and Russia agreed to extend their pact to manage crude output into 2019 and after Alberta, Canada's largest crude producing region, announced a cut in production of crude and bitumen by 325,000 bpd from January until excess oil in storage is drawn down. Asian stocks settled higher: Japan +1.00%, Hong Kong +2.55%, China +2.57%, Taiwan +2.53%, Australia +1.84%, Singapore +2.34%, South Korea +1.78%, India +0.13%. Asian equity markets rallied sharply with China's Shanghai Composite at a 1-1/2 week high and Japan's Nikkei Stock Index at a 1-1/2 month high after the U.S. said it will postpone a planned tariff hike on Chinese goods for three months in return for greater purchases of American goods.
*The dollar index (DXY00 -0.23%) is down -0.20% . EUR/USD (^EURUSD +0.16%) is up +0.15%. USD/JPY (^USDJPY +0.13%) is unchanged.
*Mar 10-year T-note prices (ZNH19 -0-060) are down -6.5 ticks.
*Fed Vice Chair Clarida said the U.S. economy is in good shape and the outlook very solid and that the Fed could operate somewhat above 2% inflation.
*The UK Nov Markit manufacturing PMI rose +2.0 to 53.1, stronger than expectations of +0.6 to 51.7.
*The Eurozone Nov Markit manufacturing PMI was revised upward to 51.8 from the previously reported 51.5, still the slowest pace of expansion in 2 years.
*Japan Q3 capital spending rose +4.5% y/y, weaker than expectations of +8.5% y/y. Q3 capital spending ex software rose +2.5% y/y, weaker than expectations of +10.7% y/y.
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**U.S. Stock Preview**
*Key U.S. news today includes: (1) revised Nov Markit manufacturing PMI (expected unch at 55.4, prelim-Nov -0.3 to 55.4), (2) Oct construction spending (expected +0.4%, Sep unch), (3) Nov ISM manufacturing index (expected -0.2 to 57.5, Oct -2.1 to 57.7), (4) Dallas Fed President Robert Kaplan (non-voter) speak a at a community forum in Laredo, TX, (5) Nov total vehicle sales (expected 17.20 million, Oct 17.50 million).
*Notable Russell 1000 earnings reports today include: none.
*U.S. IPO's scheduled to price today: none
*Equity conferences during the remainder of this week: American Society of Hematology Meeting on Mon, UBS Global Media and Communications Conference on Mon-Tue, Raymond James Technology Investors Conference on Mon-Wed, Bank of America Merrill Lynch Leveraged Finance Conference on Tue, Cowen & Co. Energy & Natural Resources Conference on Tue, SIP Network Operators Conference on Tue, Goldman Sachs U.S. Financial Services Conference on Tue, Wells Fargo Securities Technology Summit on Tue-Wed, NASDAQ Investors Conference on Tue-Wed, Barclays Global Technology, Media and Telecommunications Conference on Tue-Thu, AI Summit on Wed, Wells Fargo Securities Pipeline, MLP and Utility Symposium on Wed, Citi Global Health Care Conference on Wed-Thu, Barclays Gaming, Lodging, Leisure, Restaurant and Food Retail Conference on Wed-Thu.
--------------------------------------------------------------------------------------
**Overnight U.S. Stock Movers**
*Caterpillar (CAT +4.18%) was upgraded to 'Buy' from 'Neutral' at Bank of America/Merrill Lynch with a price target of $163.
*Broadcom (AVGO +0.69%) was upgraded to 'Buy' from 'Neutral' at B Riley FBR with a price target of $300.
*AT&T (T +2.19%) was upgraded to 'Overweight' from 'Neutral' at JPMorgan Chase with a price target of $38.
*ShotSpotter (SSTI +1.55%) was rated a new 'Buy' at National Securities with a price target of $44.
*Masco (MAS +1.31%) was upgraded to 'Outperform' from 'Sector Perform' at RBC Capital Markets with a price target of $38.
*Cactus (WHD -0.45%) was rated a new 'Buy' at Bank of America/Merrill Lynch with a price target of $36.
*NRC Group (NRCG +1.79%) was rated a new 'Buy' at Stifel with a price target of 10.
*Citrix Systems (CTXS -1.35%) may move higher initially this morning after holder Elliot raised its stake in the company to 6.9% from 5.26%.
*Noodles & Co. (NDLS -6.06%) was upgraded to 'Outperform' from 'Sector Perform' at RBC Capital Markets with a price target of $12.
*International Seaways (INSW +0.31%) may move lower initially this morning after holder Paulson & Co announced that it had cut its stake in the company to 9.97% from 10.57%.
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**Market Comments**
*Dec S&P 500 E-minis this morning (ESZ18 +1.45%) are up sharply by +41.25 points (+1.50%) at a 3-week high. Friday's closes: S&P 500 +0.82%, Dow Jones +0.79%, Nasdaq 100 +0.82%. The S&P 500 on Friday rallied to a 2-1/2 week high and closed higher on hopes for a Trump-Xi trade deal on Saturday. Stocks were also boosted by the Nov Chicago PMI report of +8.0 to an 11-month high of 66.4 (stronger than expectations of +0.1 to 58.5). U.S. Trade Representative Lighthizer on Friday said "I would be very surprised if the dinner between U.S. President Trump and Chinese President Xi Jinping on Saturday was not a success."
*Mar 10-year T-notes (ZNH19 -0-060) this morning are down -6.5 ticks. Friday's closes: TYH9 +4.50, FVH9 +1.00. Mar 10-year T-notes on Friday rallied to a 2-3/4 month high and closed higher on carry-over support from a rally in 10-year German bunds to a 3-1/4 month high after the Eurozone Nov core CPI rose less than expected. T-note prices were also boosted by dovish comments from New York Fed President Williams who said the problem today "is the risk of inflation that is persistently too low, rather than too high."
*The dollar index (DXY00 -0.23%) this morning is down -0.192 (-0.20%), EUR/USD (^EURUSD +0.16%) is up +0.0017 (+0.15%), and USD/JPY (^USDJPY +0.13%) is unch. Friday's closes: Dollar Index +0.494 (+0.51%), EUR/USD -0.0076 (-0.67%), USD/JPY +0.09 (+0.08%). The dollar index on Friday closed higher on the stronger-than-expected Nov Chicago PMI report at an 11-month high. There was also weakness in EUR/USD after Eurozone Nov core CPI rose +1.0% y/y (weaker than expectations of +1.1% y/y) which was dovish for ECB policy.
*Metals prices this morning are higher with Dec gold (GCZ18 +0.64%) +8.3 (+0.68%) at a 3-week high, Dec silver (SIZ18 +1.67%) +0.238 (+1.67%), and Dec copper (HGZ18 +1.80%) +0.050 (+1.78%) at a 1-3/4 month high. Dec Comex gold (GCZ18) on Friday closed down -3.9 (-0.32%) and Dec Comex silver (SIZ18) closed down -0.188 (-1.27%). A rally in the dollar index Friday undercut metals prices as did comments from New York Fed President Williams who said the problem today is "the risk of inflation that is persistently too low, rather than too high," which may curb demand for gold as an inflation hedge. Silver and industrial metals also saw downward pressure Friday after China reported that its Nov manufacturing PMI fell by -0.2 points to 50.0, weaker than market expectations of unchanged at 50.2 and the slowest pace of expansion in 2-1/4 years, which provides more evidence of a slowing Chinese economy and manufacturing sector. Precious metals still have underlying support from hopes for a more dovish Fed policy in 2019 after Fed Chair Powell on Wednesday said that interest rates are "just below" the range of estimates of the neutral level and Thursday's Nov 7-8 FOMC minutes said the FOMC is looking to jettison its language about a gradual increase in interest rates to adopt more flexible, data-dependent interest rate guidance. Gold since early October has seen support from a +2.7% rise in the amount of gold held in ETFs, but that measure has turned sideways this week. Silver was hurt on Wednesday by a sharp -0.5% drop in the amount of silver held in ETFs to a 2-week low of 529.354 million troy ounces, but ETF silver holdings stabilized on Thursday with a small +0.05% rise.
*Jan WTI crude oil prices (CLF19 +3.97%) this morning are up shaprly by +$2.15 per barrel (+4.22%) and Jan gasoline (RBF19 +4.07%)is up +6.00 (+4.28%), both at 1-week highs. Jan WTI crude oil (CLF19) on Friday closed down by -$0.52 per barrel (-1.01%) and Jan Brent crude (CBF19) closed down -$0.80 (-1.34%). Jan RBOB gasoline (RBF19) closed down by -0.0280 (-1.96%). Oil prices moved lower Friday after Russian Energy Minister Novak said that Russia is comfortable with current prices and that Russia will hold its oil output steady until the end of the year, indicating there will be no cut in December as an oil-support measure. Mr. Novak's comments suggest that Russia continues to favor only a modest production cut agreement for 2019. However, crude prices recovered from their worst levels Friday after an OPEC advisory committee reportedly suggested a -1.3 million bpd cut in oil production, more than consensus for a -1.1 million bpd cut in crude production. OPEC and its allies meet next week (Dec 6-7) and will decide whether to extend their production cut agreement into 2019. Another negative for crude Friday was the increase in U.S. active oil rigs by 2 rigs this week to 887 rigs, just below 3-1/2 year high of 888 active rigs from earlier in November. Russian President Putin and Saudi Crown Prince Mohammed Bin Salam are expected to meet on the sidelines of the Friday/Saturday G-20 meeting in Buenos Aires to set some parameters for next week's OPEC+ discussion on a 2019 oil production cut. Reports last week indicated that Saudi Arabian oil output has increased to a record 11.2 million bpd from 10.8-10.9 million bpd earlier in November and it remains unclear whether Saudi Arabia will make good on its promise for a production cut in December.
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{==================================================}
*PLACING TRADES*
HOW TO READ THE MARKET
OK SO IF YOU LOOK AT TODAYS SHEET YOU WILL LOOK FOR YOUR BUY/SELL SIGNALS FIRST. THE BUY SELL SIGNAL IS LOCATED UNDER THE "POSMOM" & "NEGMOM" COLUMNS.
FOR BUYS SIGNALS YOUR LOOKING FOR EITHER A "311", "411" OR "911"
LIKEWISE FOR SELL SIGNALS. BUY AND SELL ARE BASED ON THE POS MOM AND NEG MOM
THERE IS ALSO "11" WHICH MEANS THAT THE MARKET IS LOCKED IN WITH EITHER BULLISH OR BEARISH MOMENTUM. THIS IS ANALOGOUS TO A CONTINUATION PATTERN IN EITHER DIRECTION. NEXT YOU LOOK AT THE "TREND" COLUMN. IS YOU HAVE A BUY SIGNAL (AS INDICATED ABOVE) THEN YOU KNOW THAT YOU WILL BE TRADING WITH THE TREND IS THERE IS A "3","2" OR "1" IN THE TREND COLUMN. 3 IS A MATURE STAGE 3 TREND. EVERYTHING IS LOCKED IN MOMENTUM WISE. 2 IS A STAGE 2 TREND THAT IS STRENGTHENING AND WILL BECOME A STAGE 3 SOON. 1 IS THE BEGINNING STAGE OF A TREND THAT DEVELOPING. NEXT......IS THE MARKET TIMING. THATS WHERE THE PRICE TRIGGERS COME INTO PLAY. FOR LONGS YOU CAN ENTER @ THE "ENTRY" COLUMN OR TAKE A MORE CONSERVATIVE APPROACH (IF THE "52WK" COLUMN IS GREATER THAN THE "ENTRY" COLUMN) AND ENTER AT THE "52WK" TRIGGER. ONCE YOU HAVE MADE YOUR DECISION YOU SIMPLY PLACE THE TICKET AND WAIT FOR THE MARKET TO COME TO YOU.
*NOTE: THERE IS A FAILSAFE BUILT INTO THE SYSTEM. EVEN WITHOUT LOOKING AT THE POS MOM & NEG MOM YOU CAN JUST USE THE PRICE TRIGGERS THEMSELVES AND ENTER A TRADE. REASON BEING IS BECAUSE IF THE PRICE TRIGGER IS HIT THE MARKET WILL MOVE IN THE DIRECTION AND TAKE YOU ALONG FOR THE RIDE!
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*EXITS* - THERE ARE TWO WAYS TO DO EXITS. FIRST YOU CAN EXIT WHEN THE OPPOSITE PRICE TRIGGER IS HIT.
EXITS WORK LIKE ENTRY POINTS. YOU LET THE MARKET COME TO YOU. THE MORE CONSERVATIVE APPROACH IS TO USE THE "STOPLOSS" COLUMN AS YOUR EXIT ON LONG POSITIONS AND USE THE "ENTRY" COLUMN TO EXIT ON SHORT POSITIONS.
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*SHORT SELL*
THIS IS WHERE YOU SELL SHORT. THIS IS THE 1ST ENTRY PRICE TO GET SHORT.
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*ENTRY*
KEEP IN MIND THAT IF THIS FIELD IS BLANK THEN DO NOT BUY. SHORTS HAVE CONTROL OF THE MARKET AND THE SYSTEM IS STAYING FLAT. THE ONLY OPTION IS TO EITHER SELL SHORT IF THERE IS AN ENTRY PRICE INDICATED UNDER THE "SHORTSELL" COLUMN. OR STAY FLAT ON THE SIDELINES OR TIGHTEN UP THE STOP IF YOU ARE LONG. YOU CAN USE THE SHORTSELL ENTRY AS YOUR STOP LOSS ON OPEN LONGS.
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*SELLSTOP*
THIS ACTS AS YOUR "SELLSTOP" ON LONG POSITIONS. IF YOU BOUGHT SOMETHING THIS IS WERE YOU SELL IT TO GET OUT. THIS PRICE TRIGGER ALSO ACTS AS YOUR STOP & REVERSE TO GET SHORT WHEN STOPPED OUT OF LONG POSITIONS. THEREFORE THE SELLSTOP ALSO FUNCTIONS AS THE 2nd ENTRY PRICE TO GET SHORT.
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*Positive-Momentum Meaning*:
11 Positive Momentum
311 SWING TRADE POSITIVE (LONG POSITION SIGNAL)
411 Oversold. Positive Swing VIX (Bottoming)
911 Rally Alert
999 MOMENTUM SHIFT ALERT - (FROM NEUTRAL/BEARISH TO BULLISH)
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*Uptrend - Meaning*
*PULSEWAVE PRICE CYCLE TREND*
A.K.A "PWPCT"
0 - NO TREND
88 - KUMO CLOUD OF DEATH (CONSOLIDATED SIDEWAYS MARKET)
1 - STAGE ONE PWPCT - BULL MARKET UPTREND FORMING
2 - STAGE TWO PWPCT - STRENGTHENING BULL MARKET UPTREND
3 - STAGE THREE PWPCT - LOCKED IN BULL MARKET UPTREND W/STRONG MOMENTUM
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*Downtrend - Meaning*
*PULSEWAVE PRICE CYCLE TREND*
A.K.A "PWPCT"
0 - NO TREND
-88 - KUMO CLOUD OF DEATH (CONSOLIDATED SIDEWAYS MARKET)
-1 - STAGE ONE PWPCT - BEAR MARKET DOWNTREND FORMING
-2 - STAGE TWO PWPCT - STRENGTHENING BEAR MARKET DOWNTREND
-3 - STAGE THREE PWPCT - LOCKED IN BEAR MARKET DOWNTREND W/STRONG MOMENTUM
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*Negative-Momentum Meaning*:
-11 Negative Momentum
-311 SWING TRADE POSITIVE (SHORT POSITION SIGNAL)
-411 Overbought. Negative Swing VIX (Topping out)
-911 Crash Alert
-777 MOMENTUM SHIFT ALERT - (FROM NEUTRAL/BULLISH TO BEARISH)
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*MOMTRIG = STOP RUNNER*
THIS IS WHERE LARGE ORDERS AND INSTITUTIONAL MONEY WILL ENTER THE MARKET I.E. WHERE STOPS WILL BE RUN. THIS IS ALSO KNOWN AS "THE INTRADAY PRICE INFLECTION POINT".
*NOTE:*
THIS IS WHERE THE MARKET NEEDS TO CLOSE IN ORDER SO MAINTAIN THE CURRENT TREND OR SHIFT TRENDS.
IN A BEAR MARKET THIS IS WHERE THE MARKET NEEDS TO CLOSE ABOVE ON THE DAILY/WEEKLY CHART IN ORDER TO PUT IN A SHORT TERM BOTTOM.
IN A BULL MARKET THIS IS WHERE THE MARKET NEEDS TO CLOSE BELOW ON THE DAILY/WEEKLY CHART IN ORDER TO PUT IN A SHORT TERM TOP.
GREEN = POSSIBLE HEAVY BUYING AT PRICE INFLECTION POINT.
RED = POSSIBLE HEAVY SELLING AT PRICE INFLECTION POINT.
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*52 WEEK HIGH*
*THIS ACTS AS YOUR 2nd OPTION FOR INITIAL STOP-LOSS WHEN SHORTING*
*NOTE:*
THIS IS A SPECIFIC ALGO COLUMN THAT TAKES INTO ACCOUNT KEY RESISTANCE AREAS BASED ON BOTH DAILY AND WEEKLY CHARTS. HOWEVER, THE DIFFERENCE IS THAT THE SYSTEM LOOKS AT KEY INTRADAY DATA TO DETERMINE WHICH OF THE CURRENT KEY AREAS ARE MORE IMPORTANT SUCH AS 52 WEEK HIGH, 10 DAY HIGH AND INTRADAY PRICE INFLECTION POINTS. SO FOR EXAMPLE IF THE 52 WEEK HIGH IS MORE IMPORTANT THAN THE 5 DAY HIGH THEN THE 52 WEEK HIGH WILL GIVEN MORE WEIGHT.
{==================================================================}
General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents. For Related news and other stories please visit - http://www.wideawakenews.com/ For Related videos on our Youtube channel please visit - http://www.youtube.com/user/pulsescan72 Be Sure to register for faster updates and commentaries at - BLOG 1: - http://pulsescan.blogspot.com/ BLOG 2: - http://seekingalpha.com/instablog/466159-pulsescan72/ BULLS make money... BEARS make money.... PIGS get slaughtered! "TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!
*Dec E-mini S&Ps (ESZ18 +1.45%) this morning are up +1.50% and European stocks are up +1.64%, both at 3-week highs, as global stocks soar after the U.S. and China agree to a temporary truce in their trade war. Automakers and mining stocks rallied after President Trump tweeted that China agreed to "reduce and remove" tariffs on imported American-made cars. Dec COMEX copper (HGZ18 +1.80%) jumped +1.78% to a 1-3/4 month high on improved demand prospects for industrial metals. Also, energy stocks gained after Jan WTI crude oil (CLF19 +3.97%) surged +4.22% to a 1-week high when Saudi Arabia and Russia agreed to extend their pact to manage crude output into 2019 and after Alberta, Canada's largest crude producing region, announced a cut in production of crude and bitumen by 325,000 bpd from January until excess oil in storage is drawn down. Asian stocks settled higher: Japan +1.00%, Hong Kong +2.55%, China +2.57%, Taiwan +2.53%, Australia +1.84%, Singapore +2.34%, South Korea +1.78%, India +0.13%. Asian equity markets rallied sharply with China's Shanghai Composite at a 1-1/2 week high and Japan's Nikkei Stock Index at a 1-1/2 month high after the U.S. said it will postpone a planned tariff hike on Chinese goods for three months in return for greater purchases of American goods.
*The dollar index (DXY00 -0.23%) is down -0.20% . EUR/USD (^EURUSD +0.16%) is up +0.15%. USD/JPY (^USDJPY +0.13%) is unchanged.
*Mar 10-year T-note prices (ZNH19 -0-060) are down -6.5 ticks.
*Fed Vice Chair Clarida said the U.S. economy is in good shape and the outlook very solid and that the Fed could operate somewhat above 2% inflation.
*The UK Nov Markit manufacturing PMI rose +2.0 to 53.1, stronger than expectations of +0.6 to 51.7.
*The Eurozone Nov Markit manufacturing PMI was revised upward to 51.8 from the previously reported 51.5, still the slowest pace of expansion in 2 years.
*Japan Q3 capital spending rose +4.5% y/y, weaker than expectations of +8.5% y/y. Q3 capital spending ex software rose +2.5% y/y, weaker than expectations of +10.7% y/y.
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**U.S. Stock Preview**
*Key U.S. news today includes: (1) revised Nov Markit manufacturing PMI (expected unch at 55.4, prelim-Nov -0.3 to 55.4), (2) Oct construction spending (expected +0.4%, Sep unch), (3) Nov ISM manufacturing index (expected -0.2 to 57.5, Oct -2.1 to 57.7), (4) Dallas Fed President Robert Kaplan (non-voter) speak a at a community forum in Laredo, TX, (5) Nov total vehicle sales (expected 17.20 million, Oct 17.50 million).
*Notable Russell 1000 earnings reports today include: none.
*U.S. IPO's scheduled to price today: none
*Equity conferences during the remainder of this week: American Society of Hematology Meeting on Mon, UBS Global Media and Communications Conference on Mon-Tue, Raymond James Technology Investors Conference on Mon-Wed, Bank of America Merrill Lynch Leveraged Finance Conference on Tue, Cowen & Co. Energy & Natural Resources Conference on Tue, SIP Network Operators Conference on Tue, Goldman Sachs U.S. Financial Services Conference on Tue, Wells Fargo Securities Technology Summit on Tue-Wed, NASDAQ Investors Conference on Tue-Wed, Barclays Global Technology, Media and Telecommunications Conference on Tue-Thu, AI Summit on Wed, Wells Fargo Securities Pipeline, MLP and Utility Symposium on Wed, Citi Global Health Care Conference on Wed-Thu, Barclays Gaming, Lodging, Leisure, Restaurant and Food Retail Conference on Wed-Thu.
--------------------------------------------------------------------------------------
**Overnight U.S. Stock Movers**
*Caterpillar (CAT +4.18%) was upgraded to 'Buy' from 'Neutral' at Bank of America/Merrill Lynch with a price target of $163.
*Broadcom (AVGO +0.69%) was upgraded to 'Buy' from 'Neutral' at B Riley FBR with a price target of $300.
*AT&T (T +2.19%) was upgraded to 'Overweight' from 'Neutral' at JPMorgan Chase with a price target of $38.
*ShotSpotter (SSTI +1.55%) was rated a new 'Buy' at National Securities with a price target of $44.
*Masco (MAS +1.31%) was upgraded to 'Outperform' from 'Sector Perform' at RBC Capital Markets with a price target of $38.
*Cactus (WHD -0.45%) was rated a new 'Buy' at Bank of America/Merrill Lynch with a price target of $36.
*NRC Group (NRCG +1.79%) was rated a new 'Buy' at Stifel with a price target of 10.
*Citrix Systems (CTXS -1.35%) may move higher initially this morning after holder Elliot raised its stake in the company to 6.9% from 5.26%.
*Noodles & Co. (NDLS -6.06%) was upgraded to 'Outperform' from 'Sector Perform' at RBC Capital Markets with a price target of $12.
*International Seaways (INSW +0.31%) may move lower initially this morning after holder Paulson & Co announced that it had cut its stake in the company to 9.97% from 10.57%.
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**Market Comments**
*Dec S&P 500 E-minis this morning (ESZ18 +1.45%) are up sharply by +41.25 points (+1.50%) at a 3-week high. Friday's closes: S&P 500 +0.82%, Dow Jones +0.79%, Nasdaq 100 +0.82%. The S&P 500 on Friday rallied to a 2-1/2 week high and closed higher on hopes for a Trump-Xi trade deal on Saturday. Stocks were also boosted by the Nov Chicago PMI report of +8.0 to an 11-month high of 66.4 (stronger than expectations of +0.1 to 58.5). U.S. Trade Representative Lighthizer on Friday said "I would be very surprised if the dinner between U.S. President Trump and Chinese President Xi Jinping on Saturday was not a success."
*Mar 10-year T-notes (ZNH19 -0-060) this morning are down -6.5 ticks. Friday's closes: TYH9 +4.50, FVH9 +1.00. Mar 10-year T-notes on Friday rallied to a 2-3/4 month high and closed higher on carry-over support from a rally in 10-year German bunds to a 3-1/4 month high after the Eurozone Nov core CPI rose less than expected. T-note prices were also boosted by dovish comments from New York Fed President Williams who said the problem today "is the risk of inflation that is persistently too low, rather than too high."
*The dollar index (DXY00 -0.23%) this morning is down -0.192 (-0.20%), EUR/USD (^EURUSD +0.16%) is up +0.0017 (+0.15%), and USD/JPY (^USDJPY +0.13%) is unch. Friday's closes: Dollar Index +0.494 (+0.51%), EUR/USD -0.0076 (-0.67%), USD/JPY +0.09 (+0.08%). The dollar index on Friday closed higher on the stronger-than-expected Nov Chicago PMI report at an 11-month high. There was also weakness in EUR/USD after Eurozone Nov core CPI rose +1.0% y/y (weaker than expectations of +1.1% y/y) which was dovish for ECB policy.
*Metals prices this morning are higher with Dec gold (GCZ18 +0.64%) +8.3 (+0.68%) at a 3-week high, Dec silver (SIZ18 +1.67%) +0.238 (+1.67%), and Dec copper (HGZ18 +1.80%) +0.050 (+1.78%) at a 1-3/4 month high. Dec Comex gold (GCZ18) on Friday closed down -3.9 (-0.32%) and Dec Comex silver (SIZ18) closed down -0.188 (-1.27%). A rally in the dollar index Friday undercut metals prices as did comments from New York Fed President Williams who said the problem today is "the risk of inflation that is persistently too low, rather than too high," which may curb demand for gold as an inflation hedge. Silver and industrial metals also saw downward pressure Friday after China reported that its Nov manufacturing PMI fell by -0.2 points to 50.0, weaker than market expectations of unchanged at 50.2 and the slowest pace of expansion in 2-1/4 years, which provides more evidence of a slowing Chinese economy and manufacturing sector. Precious metals still have underlying support from hopes for a more dovish Fed policy in 2019 after Fed Chair Powell on Wednesday said that interest rates are "just below" the range of estimates of the neutral level and Thursday's Nov 7-8 FOMC minutes said the FOMC is looking to jettison its language about a gradual increase in interest rates to adopt more flexible, data-dependent interest rate guidance. Gold since early October has seen support from a +2.7% rise in the amount of gold held in ETFs, but that measure has turned sideways this week. Silver was hurt on Wednesday by a sharp -0.5% drop in the amount of silver held in ETFs to a 2-week low of 529.354 million troy ounces, but ETF silver holdings stabilized on Thursday with a small +0.05% rise.
*Jan WTI crude oil prices (CLF19 +3.97%) this morning are up shaprly by +$2.15 per barrel (+4.22%) and Jan gasoline (RBF19 +4.07%)is up +6.00 (+4.28%), both at 1-week highs. Jan WTI crude oil (CLF19) on Friday closed down by -$0.52 per barrel (-1.01%) and Jan Brent crude (CBF19) closed down -$0.80 (-1.34%). Jan RBOB gasoline (RBF19) closed down by -0.0280 (-1.96%). Oil prices moved lower Friday after Russian Energy Minister Novak said that Russia is comfortable with current prices and that Russia will hold its oil output steady until the end of the year, indicating there will be no cut in December as an oil-support measure. Mr. Novak's comments suggest that Russia continues to favor only a modest production cut agreement for 2019. However, crude prices recovered from their worst levels Friday after an OPEC advisory committee reportedly suggested a -1.3 million bpd cut in oil production, more than consensus for a -1.1 million bpd cut in crude production. OPEC and its allies meet next week (Dec 6-7) and will decide whether to extend their production cut agreement into 2019. Another negative for crude Friday was the increase in U.S. active oil rigs by 2 rigs this week to 887 rigs, just below 3-1/2 year high of 888 active rigs from earlier in November. Russian President Putin and Saudi Crown Prince Mohammed Bin Salam are expected to meet on the sidelines of the Friday/Saturday G-20 meeting in Buenos Aires to set some parameters for next week's OPEC+ discussion on a 2019 oil production cut. Reports last week indicated that Saudi Arabian oil output has increased to a record 11.2 million bpd from 10.8-10.9 million bpd earlier in November and it remains unclear whether Saudi Arabia will make good on its promise for a production cut in December.
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*PLACING TRADES*
HOW TO READ THE MARKET
OK SO IF YOU LOOK AT TODAYS SHEET YOU WILL LOOK FOR YOUR BUY/SELL SIGNALS FIRST. THE BUY SELL SIGNAL IS LOCATED UNDER THE "POSMOM" & "NEGMOM" COLUMNS.
FOR BUYS SIGNALS YOUR LOOKING FOR EITHER A "311", "411" OR "911"
LIKEWISE FOR SELL SIGNALS. BUY AND SELL ARE BASED ON THE POS MOM AND NEG MOM
THERE IS ALSO "11" WHICH MEANS THAT THE MARKET IS LOCKED IN WITH EITHER BULLISH OR BEARISH MOMENTUM. THIS IS ANALOGOUS TO A CONTINUATION PATTERN IN EITHER DIRECTION. NEXT YOU LOOK AT THE "TREND" COLUMN. IS YOU HAVE A BUY SIGNAL (AS INDICATED ABOVE) THEN YOU KNOW THAT YOU WILL BE TRADING WITH THE TREND IS THERE IS A "3","2" OR "1" IN THE TREND COLUMN. 3 IS A MATURE STAGE 3 TREND. EVERYTHING IS LOCKED IN MOMENTUM WISE. 2 IS A STAGE 2 TREND THAT IS STRENGTHENING AND WILL BECOME A STAGE 3 SOON. 1 IS THE BEGINNING STAGE OF A TREND THAT DEVELOPING. NEXT......IS THE MARKET TIMING. THATS WHERE THE PRICE TRIGGERS COME INTO PLAY. FOR LONGS YOU CAN ENTER @ THE "ENTRY" COLUMN OR TAKE A MORE CONSERVATIVE APPROACH (IF THE "52WK" COLUMN IS GREATER THAN THE "ENTRY" COLUMN) AND ENTER AT THE "52WK" TRIGGER. ONCE YOU HAVE MADE YOUR DECISION YOU SIMPLY PLACE THE TICKET AND WAIT FOR THE MARKET TO COME TO YOU.
*NOTE: THERE IS A FAILSAFE BUILT INTO THE SYSTEM. EVEN WITHOUT LOOKING AT THE POS MOM & NEG MOM YOU CAN JUST USE THE PRICE TRIGGERS THEMSELVES AND ENTER A TRADE. REASON BEING IS BECAUSE IF THE PRICE TRIGGER IS HIT THE MARKET WILL MOVE IN THE DIRECTION AND TAKE YOU ALONG FOR THE RIDE!
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*EXITS* - THERE ARE TWO WAYS TO DO EXITS. FIRST YOU CAN EXIT WHEN THE OPPOSITE PRICE TRIGGER IS HIT.
EXITS WORK LIKE ENTRY POINTS. YOU LET THE MARKET COME TO YOU. THE MORE CONSERVATIVE APPROACH IS TO USE THE "STOPLOSS" COLUMN AS YOUR EXIT ON LONG POSITIONS AND USE THE "ENTRY" COLUMN TO EXIT ON SHORT POSITIONS.
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*SHORT SELL*
THIS IS WHERE YOU SELL SHORT. THIS IS THE 1ST ENTRY PRICE TO GET SHORT.
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*ENTRY*
KEEP IN MIND THAT IF THIS FIELD IS BLANK THEN DO NOT BUY. SHORTS HAVE CONTROL OF THE MARKET AND THE SYSTEM IS STAYING FLAT. THE ONLY OPTION IS TO EITHER SELL SHORT IF THERE IS AN ENTRY PRICE INDICATED UNDER THE "SHORTSELL" COLUMN. OR STAY FLAT ON THE SIDELINES OR TIGHTEN UP THE STOP IF YOU ARE LONG. YOU CAN USE THE SHORTSELL ENTRY AS YOUR STOP LOSS ON OPEN LONGS.
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*SELLSTOP*
THIS ACTS AS YOUR "SELLSTOP" ON LONG POSITIONS. IF YOU BOUGHT SOMETHING THIS IS WERE YOU SELL IT TO GET OUT. THIS PRICE TRIGGER ALSO ACTS AS YOUR STOP & REVERSE TO GET SHORT WHEN STOPPED OUT OF LONG POSITIONS. THEREFORE THE SELLSTOP ALSO FUNCTIONS AS THE 2nd ENTRY PRICE TO GET SHORT.
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*Positive-Momentum Meaning*:
11 Positive Momentum
311 SWING TRADE POSITIVE (LONG POSITION SIGNAL)
411 Oversold. Positive Swing VIX (Bottoming)
911 Rally Alert
999 MOMENTUM SHIFT ALERT - (FROM NEUTRAL/BEARISH TO BULLISH)
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*Uptrend - Meaning*
*PULSEWAVE PRICE CYCLE TREND*
A.K.A "PWPCT"
0 - NO TREND
88 - KUMO CLOUD OF DEATH (CONSOLIDATED SIDEWAYS MARKET)
1 - STAGE ONE PWPCT - BULL MARKET UPTREND FORMING
2 - STAGE TWO PWPCT - STRENGTHENING BULL MARKET UPTREND
3 - STAGE THREE PWPCT - LOCKED IN BULL MARKET UPTREND W/STRONG MOMENTUM
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*Downtrend - Meaning*
*PULSEWAVE PRICE CYCLE TREND*
A.K.A "PWPCT"
0 - NO TREND
-88 - KUMO CLOUD OF DEATH (CONSOLIDATED SIDEWAYS MARKET)
-1 - STAGE ONE PWPCT - BEAR MARKET DOWNTREND FORMING
-2 - STAGE TWO PWPCT - STRENGTHENING BEAR MARKET DOWNTREND
-3 - STAGE THREE PWPCT - LOCKED IN BEAR MARKET DOWNTREND W/STRONG MOMENTUM
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*Negative-Momentum Meaning*:
-11 Negative Momentum
-311 SWING TRADE POSITIVE (SHORT POSITION SIGNAL)
-411 Overbought. Negative Swing VIX (Topping out)
-911 Crash Alert
-777 MOMENTUM SHIFT ALERT - (FROM NEUTRAL/BULLISH TO BEARISH)
****UPDATE****
THE POMOM & NEGMOM COLUMNS ARE YOUR RALLY & CRASH ALERT USED TO TIME THE ENTRY OF MARKETS. ALSO LOOK FOR THE "11" WHICH IS A LOCKED IN MOMENTUM IN THE MARKET. SO THE RALLY/CRASH ALERT COLUMN IS YOUR BUY/SELL ALERT SECTION. LIKEWISE, THE UPTREND/DOWNTREND COLUMNS TRACK THE MARKETS CURRENT TREND AND THE STRENGTH THEREIN. A READING OF "3" IS A LOCKED IN MATURE MARKET WITH PARABOLIC MOMENTUM. A READING OF "2" INDICATES A MATURE MARKET THAT IS GAINING STRENGTH. A READING OF "1" IS THE BEGINNING STAGES OF A TREND THAT IS DEVELOPING.
SO WHEN YOU SEE A RALLY/CRASH ALERT YOU SHOULD PLACE THE BUY ORDER AHEAD OF THE MARKET USING THE "ENTRY" COLUMN PRICE. USE THE "SELLSHORT" COLUMN PRICE TO PLACE SHORT TICKETS AHEAD OF THE MARKET. NOTE: YOU DO NOT HAVE TO WAIT FOR THE MARKET TO TRIGGER THE PRICE BEFORE PLACING TICKETS. ITS BEST TO PLACE THE TRADE ORDERS AHEAD OF THE MARKET AND LET THE MARKET COME TO YOU. JUST PLACE THE TICKETS, WAIT AND BE PATIENT AND ALLOW THE MARKET TO COME TO YOU............
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*MOMTRIG = STOP RUNNER*
THIS IS WHERE LARGE ORDERS AND INSTITUTIONAL MONEY WILL ENTER THE MARKET I.E. WHERE STOPS WILL BE RUN. THIS IS ALSO KNOWN AS "THE INTRADAY PRICE INFLECTION POINT".
*NOTE:*
THIS IS WHERE THE MARKET NEEDS TO CLOSE IN ORDER SO MAINTAIN THE CURRENT TREND OR SHIFT TRENDS.
IN A BEAR MARKET THIS IS WHERE THE MARKET NEEDS TO CLOSE ABOVE ON THE DAILY/WEEKLY CHART IN ORDER TO PUT IN A SHORT TERM BOTTOM.
IN A BULL MARKET THIS IS WHERE THE MARKET NEEDS TO CLOSE BELOW ON THE DAILY/WEEKLY CHART IN ORDER TO PUT IN A SHORT TERM TOP.
GREEN = POSSIBLE HEAVY BUYING AT PRICE INFLECTION POINT.
RED = POSSIBLE HEAVY SELLING AT PRICE INFLECTION POINT.
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*52 WEEK HIGH*
*THIS ACTS AS YOUR 2nd OPTION FOR INITIAL STOP-LOSS WHEN SHORTING*
*NOTE:*
THIS IS A SPECIFIC ALGO COLUMN THAT TAKES INTO ACCOUNT KEY RESISTANCE AREAS BASED ON BOTH DAILY AND WEEKLY CHARTS. HOWEVER, THE DIFFERENCE IS THAT THE SYSTEM LOOKS AT KEY INTRADAY DATA TO DETERMINE WHICH OF THE CURRENT KEY AREAS ARE MORE IMPORTANT SUCH AS 52 WEEK HIGH, 10 DAY HIGH AND INTRADAY PRICE INFLECTION POINTS. SO FOR EXAMPLE IF THE 52 WEEK HIGH IS MORE IMPORTANT THAN THE 5 DAY HIGH THEN THE 52 WEEK HIGH WILL GIVEN MORE WEIGHT.
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General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents. For Related news and other stories please visit - http://www.wideawakenews.com/ For Related videos on our Youtube channel please visit - http://www.youtube.com/user/pulsescan72 Be Sure to register for faster updates and commentaries at - BLOG 1: - http://pulsescan.blogspot.com/ BLOG 2: - http://seekingalpha.com/instablog/466159-pulsescan72/ BULLS make money... BEARS make money.... PIGS get slaughtered! "TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!
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