Interesting Chart Patterns To Monitor In Coming Days...

[MR]

One last FE aggressive trade idea follow-up from previous posts.... type FE and do a search to review the previous posts....

[MR]

Duane,

Your URBN is still doing well.... You posted it when it was at 28.56. It pushed up again today to 30.06 area. Looks like 32.00 next, u think?

[DuaneG]

Hi Marc,

Looks like URBN is still chugging along. The Wave 4 was a little bumpy, but what would trading be without the turbulence . The first MOB is set near $32, but after that, we may have a couple points of free range. The volume was a little lackluster today, but we'll keep an eye on it....Thanks!

[PRH]

Update on SFNT: was a XTL Continuation trade triggered on Aug 18 - buying above the previous day's high. Currently bumping against a minor MOB. Tightening the stop would be good money management.
The other result, TSO (short XTL continuation) did not trigger.
PRH

[MR]

Good picks Philippe, Duane; nice follow-up work.

Hey, Philippe, when you get a second, want to share updates on your futures charts. I track them too, but think many others here do not, and would appreciate your work. You do good work.

Thanks, Marc

[MR]

Dean,

Do your think COP and CVX s/t pullbacks are completed yet? Curious for your opinion.

Marc

[MR]

Philippe,

Tell me when you think lumber and copper are finishing their uptrends. Tthe fall months tend to be seasonal tops for them. Curious what you think as I know you have quite an knowledge on lumber.

Marc

[gspiker]

I did these yesterday, but didn't have time to post them then...

BTW - the "nay" = may and the bear = near. It isn't code - just a ruch job ;-)

[gspiker]

IBM is still giving cleaner signals...often they lead the market but this time it is just confirmed the end of the down channel and the start of a new structure.

[PRH]

Update on lumber. The chart on Nov Lumber hourly shows a possible BC leg in progress... with potential target in the 384 area from which possibly a limited risk long entry can be attempted. Futures are still at a substantial discount to cash, but then, either futures go up or cash goes down and the latter will probably happen in the seasonal slowdown.

No info or opinion on copper - Marc, that is your baby. A cursory glance at the chart looks continued bullish...

PRH

[PRH]

Dec Corn: On Aug 17 a fib target at 244 and a MOB at 247 were identified as possible ends of wave 4. Those were indeed excellent short entry points. The gap was filled today and the hourly chart projects a near target at the 223.75 area

Soybeans may also set up for a XTL Continuation sell.

Lumber went sideways but did not break down. Upside strength possible and highly likely next week imho.
Bellies were down again. Staying on the short side.

Have a great weekend.

PRH

[DuaneG]

Just wanted to a post a quick update to my earlier comments on KSS. Still in wave 3, we'll see what Monday brings...

[PRH]

Notice the 4-hole button formation on the February Pork Bellies:
(Bellies button)

(I could not resist)

[giannini]

Originally posted by gspiker
IBM is still giving cleaner signals...often they lead the market but this time it is just confirmed the end of the down channel and the start of a new structure.

Hi, You do not think over the 5/35 osc ?

[gspiker]

Hi giannini,

I'm not sure what your question is, if it is "Do I use the 5/35 Osc?" the answer is yes I do. I just am not including it as I'm trying to keep the charts somewhat clean.

If you are questioning the comment about the end of the down channel based on the 5/35 indicator - remember I am only talking about the BLUE channel lines...There is a good chance that the DARK GREEN down channel lines could define the new structure.
I would also be curious as to what the 5/35 is telling you.

If you are asking something else...maybe you could clarify...

Garth