Aug 10
29
MTPredictor Weekly Update
The Dow sold off last week down to its daily Decision Support area at 9936. Although the bounce may continue into this coming week, the stock market continues to be on shaky ground.
We have had several additional Hindenburg Omen signals. Although more signals does not increase the likelihood of a market crash, it does tell us that the market internals continue to be unhealthy. Once again, we have a 4 month window for this downside weakness to play out.
Market volume will probably continue to be low until after Labor day here in the States. After Labor day passes, we should see volumes pick up again. This should help with the intra-day follow through.
I have posted 2 charts with analysis from the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex. The first shows the support area we have come into in the Dow with the final current daily DP target beneath that.
The second chart is the current daily Gold trade. Gold has pushed through its daily DP resistance and has a daily target up at 1280.
Finally, I will be traveling for the next few days so I don’t expect to post much past this weekends update.
*Click twice to enlarge
Daily Dow Targets
Daily Gold Targets
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"MTPredictor has done a very good job of emphasizing the importance of risk management in your trading" Sept 09 issue
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Read the MTPredictor article in the Sept/Oct 09 issueAug 10
26
Thursday’s Webinar Recording
You can check out the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex here in today’s webinar recording:
Click here to view the webinar recording
*This may take a few minutes to download
MTPREDICTOR™ TRADING SOFTWARE
Control your Trading Risk in 2010 and win…
- Find low risk trade opportunities
- Assess which trade is worth the risk
- Determine how much to risk on each trade
- Control your exit strategy – cut losses/run profits
- Choose between real-time or end-of-day trading tools
- Master your trades in stocks, commodities, futures and forex
- Are you tired of losing with other Elliott wave software?
- Have you heard enough false claims of ‘easy profits’?
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Aug 10
22
Hindenburg Omen Confirmed
Well, our first Hindenburg Omen signal has now been confirmed by a second signal as of Friday’s close. Since 1985, there has not been a market crash that wasn’t first preceded by a confirmed Hindenburg Omen. The probability of a correction of 5% over the next 4 months is about 77%. The probability of a full blown market crash is now about 30% over the next 4 months. The odds of the market actually rising during this period is about 8%.
Again, proceed with caution. Protect those assets that are geared to make money only when the stock market rises. The Omen tells us the market is unhealthy right now. The market will now tell us how healthy our economy is over the next few months. It should prove interesting.
When we also look at the markets with the benefit of the MTPredictor Elliott Wave and Fibonacci trading software for stocks, commodities, futures and forex, we also see some interesting patterns that have formed that also corroborate the weakness the Omen has alerted us to. Check out this weeks video for more details.
MTPREDICTOR™ TRADING SOFTWARE
Control your Trading Risk in 2010 and win…
- Find low risk trade opportunities
- Assess which trade is worth the risk
- Determine how much to risk on each trade
- Control your exit strategy – cut losses/run profits
- Choose between real-time or end-of-day trading tools
- Master your trades in stocks, commodities, futures and forex
- Are you tired of losing with other Elliott wave software?
- Have you heard enough false claims of ‘easy profits’?
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Aug 10
20
Second Omen Occurrence?
Yesterday was an interesting day as far as our friend the Hindenburg Omen is concerned. According to the Wall Street Journal NYSE data we had 137 new 52 week highs and 69 new 52 week lows. The 69 new lows equaled 2.1814 percent of the total number of issues traded at 3,163. The minimum percentage needed for new 52 week lows is 2.2 percent of the total issues traded. Well, 2.1814 rounded up is 2.2. It’s splitting hairs but basically we were technically 1 new 52 week low from having our second confirmed Omen.
Bottom line, it may be best to treat this as if it has been confirmed and protect any at risk assets you have. In the meantime, we are still on watch for a conclusive confirming second Omen signal. Stay tuned.
We’ll see if the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex has called the market top with this weekly automatic Decision Point trade.
MTPredictor DP Market Top?
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Aug 10
19
MTPredictor Webinar Recording
Today’s MTPredictor Elliott wave and Fibonacci trading software webinar for futures and forex has been posted here:
CLICK HERE TO VIEW THE WEBINAR
MTPREDICTOR™ TRADING SOFTWARE
Control your Trading Risk in 2010 and win…
- Find low risk trade opportunities
- Assess which trade is worth the risk
- Determine how much to risk on each trade
- Control your exit strategy – cut losses/run profits
- Choose between real-time or end-of-day trading tools
- Master your trades in stocks, commodities, futures and forex
- Are you tired of losing with other Elliott wave software?
- Have you heard enough false claims of ‘easy profits’?
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