Trading
Trend channels picture perfect today as noted in 2nd item of forecast. If taking first short at 9:44 then TL off earlier globex lows hit and held so quickly out with scratch or small loss and looking long. Long 9:51 and out at top of TL 5+ points. If taking 10:15 short (note slope of TLs going up so better to buy) then again out at bottom and looking long. In at 10:35 with oil dropping and out at top TL, 3-5+ points depending on how fast your fingers were. Short 11:21 and out at bottom of TL, small gain. Forecast cautious on longs before 12:24, but long at 12:25 0-5 points depending on exit. Price dipped briefly below at 2:00, just waiting for clear move meant long again 2:16 with gain of 5-10 points.
Call - "Bullish scenario is up into 9:39, up after 10:19, big lift after 10:31 as oil drops, down into 11:41-12:24 to form correction, then resuming higher especially after 1:38 to about 2:18."
Result - 9:39 dipped but key low 10:21 then big up; further up as oil dropped with key high coming right on time; key low 11:43, higher low 12:24, then up to 2:00 news.
Midday call regarding 2:18 onwards- "more chance of up with this 7T."
Swing call made Tuesday 12:00 noon - "LOD so far 10:05 at 1200, could be IT and I am talking about the next several weeks. Markets getting back above 1240 will help cement that is longer term key low."
Call - "Tuesday could have been a longer term low, but Wednesday and Thursday will probably test 1200."
Result - Globex low 1202.
Please see chart with trendlines. This looks like magic and after fact but bottom TL just off globex lows, then copy line and paste to globex high. These 2 lines defined morning action. Adding middle line with midday highs got closing high. Insight clients know why some days TLs work and sometimes they don't!
