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Let the Good Times Roll

Hawk’s Scan Sentry Report Feb 11th 2013

As we move through the end of ‘Mardi Gras’ or ‘Carnival’ season this week, a lot of people around the globe are taking intentional time to enjoy life and express themselves through music, dance and pageantry. I applaud these cultures. Expressing the joy of living through these mediums is one of the characteristics that that set humans apart from other beings in this Creation. Please don’t misinterpret me, other creatures do sing and dance and present themselves flamboyantly, but rarely en mass and with so much forethought and abstraction of messaging. So, although I’ll be in my office working this week to see which markets look tradable, I still say ‘Laissez le bon ton roulet” or “Let the good times roll”.  After all, we are working hard at trading so that we can enjoy life in general.

So, while wearing my Mardi Gras beads I share my thoughts with you on the technical analysis of financial markets below. Many of the markets I typically trade have not trended strongly this past week. Gold is moving sideways, Crude Oil is pulling back a bit, and the American indexes edged up only slightly. Even the strongly trending Japanese Yen seemed to settle for a bit at a support level. I include charts with technical details below.

For those of you not familiar with “Hawk’s Scan Sentry Report”, on the examples below I explain my analysis for some of the most commonly traded symbols using some of the most highly regarded technical indicators available. These tools are used by both institutional and private traders across the globe and are built into many of today’s most popular trading platforms. However, if you are not familiar with these indicators please follow this link to a legend describing these tools.

The Charts and Analysis

Index Futures:

S&P  Futures

(Everything about this chart is still bullish. However, with the weakening Radar2 Price Leader I would not be surprised to see a pullback into the Triple Trender as suggested last week. )

Equities Setups:

(Buy) MCK- McKessonCorp.

(A Pullback Divergence with Radar2 identified by a Trend Exhaustion1 OS signal and Pullback 23 signal. Although Triple Trender has turned bearish, note that the Radar3 Trend Strength is still bullish. We also have another Bull Flag setting up. )

Commodities:

GOLD

(This market is clearly range-bound with a slight bearish bias. However, Radar1 Fear/Greed shows that the sellers are weakening.  Nonetheless, at this point the path of least resistance still appears to be bearish.)

CRUDE OIL

(This market continues to have bullish indications in spite of the recent pullback. However, a close below the long-term Trender will change my orientation from bullish to ‘sideways’; until that happens we are still working our way up to the Flag target at $100.16 indicated by the line of green dots above the current price. )

Forex:

(Sell Short)-EURAUD

( A bearish pivot divergence with Radar1 Fear/Greed at resistance accompanied by a Trend Exhaustion1 sell signal. Best to wait for and see selling pressure in Radar1 Fear/Greed identified by downward pointing red histogram bars. )

(Exit Short)-GBPUSD

(Last week’s GBPUSD moved to 1.5602 as predicted. Now I see this currency pair reversing to the upside. Note the bullish pivot divergence in Radar1 Fear/Greed and Radar2 Price Leader while the price is at a significant support level. I would like to see the down trendline breakout hold and see the Radar3 Trend Strength turn blue showing weakness in the bearish trend  accompanied by rising green Radar1 buy strength before entering long. )

May the trend be with you,

Hawk

www.janarps.com

Jan Arps’ Traders’ Toolbox is not an investment advisory service nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. Examples presented on this site are for educational purposes only.  It should not be assumed that the methods, techniques, or indicators presented in these examples will be profitable or that they will not result in losses. There is a high degree of risk in trading.  Readers using this information are solely responsible for their actions and trade at their own risk. Readers should always check with their licensed financial advisor and their tax advisor to determine the suitability of any investment.

1 Response to Let the Good Times Roll

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Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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