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Commodities, Financials and FOREX Special Situations for the
week of April 20 2015
editor:RobertMainissuedonApril19,2015
TableofContents
INDEXESES,NQ,TFINDEXESFTSEIndex/ZXFutures/ISFEtfFINANCIALSGEFINANCIALSZFCOMMODITIESKCCOMMODITIESZWCOMMODITIESNGCOMMODITIESCLCURRENCIESEURUSDCURRENCIESUSDCADCURRENCIESEURNZDSTOCKS*
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INDEXES - ES, NQ, TF
WiththeonlyexceptionoftheRussell2000,theothermajorUSindexes(theS&P500,NYSEandNASDAQ100)seemincapabletobreakoutfromtheirmultiweekconsolidations.After2failedattemptstomakenewhighs,onFridaytheynotonlyfailedonthethirdone,butalsogappeddownandforthewholesessionnoseriousattempttoclosethatgapwasmade.Ontheotherhand,whilethepriceactiondoesntlookanygood,theoverallmarketbreadthwasnotthatbadduringthewholeweek(alsoonFriday).Thisleavesuswithabigquestionmarkonwhatthemarketisreallytryingtodo.WasFridayjustawaytoshakeoutweaklongsbeforemovingtonewhighsorbuyersarejusttooshytobuyattheselevels?Bymidnextweekweexpecttohavethisquestionatleastinpartanswered.ES
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NQ
ThemediumtermpriceactionofNQcloselymimictheofES.ButwedoexpecttheNasdaqtoleadthebreakoutfromcurrentcongestion,theS&Ptofollow.TF
ThemediumandlongtermpriceactionofTFremainspositive.UntiltheIndexremainsabove$1219.1wewillmaintainintactourbullishoutlook.
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INDEXES - FTSE / ZX Futures /ISF Etf
Basedontheweeklychart,thebreakoutthatoccurredintheFTSEisgoodandvaliduntiltheindextradesabove6617.
ForthoseinterestedtotradeETFs,ISFisaviablesolutiontradedatLSE.
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FINANCIALS - GE
Whileattemptingtomovetonewhighs,onFridayDecember2015Eurodollarsoldoffonrelativelyhighvolume.Technicallythe117dayAscendingTriangleisneartofail.Itwouldtakefewmoredaystounderstandwhatthismarketistryingtodo.
FINANCIALS - ZF
AlthoughtheHeadandShouldershowedinthechartaboveisquestionable,thewholeconsolidationtakingplaceininthe5yrTNotessinceNovember2014istakinganinterestingshape,thatcanbeagoodlongsetupabove121.
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COMMODITIES - KC
TherallyattemptfromNovember2013lowshasbeenalmostcompletelysold.Whatislefttoseeisif2013lowat$122.10willbetakenoutornot.
AboveweareshowingtheweeklychartofJulyCoffeeandasmallpossiblecontinuationHeadandShoulderpatternthatcouldeventuallyprovideaframeworktotradethismarketforthenextcoupleofweeks.
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COMMODITIES - ZW
MayZWcontractisneartocompleteanInverseHeadandShoulderPatternfailure.AshyattempttobreakdownwasdoneWednesday,buttherewasnofollowthroughonThursdayandFriday.
COMMODITIES - NG
ThepastweekwewronglylabeledthepatterninMayNaturalGascontractasaDescendingTriangle.Thatwasnotagoodinterpretation.WewouldrathernamethiscongestionasaInverseHeadandShoulderfailedpatternwiththeHeadandrightShouldertakingtheshapeofaSymmetricalTriangle.
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COMMODITIES - CL
A3.5monthDoubleBottommayhavebeencompletedinCLthispastweek.
CURRENCIES - EURUSD
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CURRENCIES - USDCAD
Somecongestion/consolidationattheselevelswasexpected.A2.5monthrectangletopwascompletedonWednesday.
CURRENCIES - EURNZD
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ThePropTradingFuturesProject//www.proptradingfutures.comRobertMainmainrobert53@gmail.comPublisherofthe:
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HYPOTHETICALPERFORMANCERESULTSHAVEMANYINHERENTLIMITATIONS,SOMEOFWHICHAREDESCRIBEDBELOW.NOREPRESENTATIONISBEINGMADETHATANYACCOUNTWILLORISLIKELYTOACHIEVEPROFITSORLOSSESSIMILARTOTHOSESHOWN.THEREAREFREQUENTLYSHARPDIFFERENCESBETWEENHYPOTHETICALPERFORMANCERESULTS&ACTUALRESULTSACHIEVEDBYAPARTICULARTRADINGPROGRAM.ONELIMITATIONOFHYPOTHETICALPERFORMANCERESULTSISTHEYAREGENERALLYPREPAREDWITHTHEBENEFITOFHINDSIGHT.HYPOTHETICALTRADINGDOESNOTINVOLVEFINANCIALRISK&NOHYPOTHETICALTRADINGRECORDCANCOMPLETELYACCOUNTFORTHEIMPACTOFFINANCIALRISKINACTUALTRADING.THEABILITYTOWITHSTANDLOSSESORADHERETOAPARTICULARTRADINGPROGRAMINSPITEOFTRADINGLOSSESAREMATERIALPOINTSTHATCANADVERSELYAFFECTACTUALTRADINGRESULTS.THEREARENUMEROUSOTHERFACTORSRELATEDTOTHEMARKETSINGENERALORTHEIMPLEMENTATIONOFANYSPECIFICTRADINGPROGRAMTHATCANNOTBEFULLYACCOUNTEDFORINPREPARATIONOFHYPOTHETICALPERFORMANCERESULTSANDALLOFWHICHCANADVERSELYAFFECTACTUALTRADINGRESULTS.Thisreportmayincludemarketanalysis.Allideas,opinions,and/orforecasts,expressedorimpliedherein,areforinformationalpurposesonlyandshouldnotbeconstruedasarecommendationtoinvest,trade,and/orspeculateinthemarkets.Anyinvestments,trades,and/orspeculationsmadeinlightoftheideas,opinions,and/orforecasts,expressedorimpliedherein,arecommittedatyourownrisk,financialorotherwise.Iamnotaninvestmentadvisor,andthecontentofthesiteisnotanendorsementtobuyorsellanysecuritiesInformationisfromsourcesbelievedreliablebutaccuracycannotbeguaranteed.Nopartofthispublicationmayberetransmittedorreproducedw/outtheeditorswrittenconsent.Allanalysis&tradestrategiesarebasedonentiretradingsession(notjustpitsession)unlessotherwisespecified.TradingStrategyresultsarebasedonentry&exitattherecommendedlevelsanddonotaccountforslippageorcommissioncosts.Readersusingthisinformationaresolelyresponsiblefortheiractions&investattheirownrisk.PASTPERFORMANCEISNOGUARANTEEOFFUTURERESULTS.FUTURESTRADINGINVOLVESSUBSTANTIALRISK.Copyright2015ThePropTradingFuturesProject
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