monday holiday update

SHORT TERM: US markets closed, YM +4

Overnight Asian markets were mostly lower. Europe opened higher but closed flat. US index futures were relatively flat overnight with ES +0.50 and NQ +0.50. Markets were fairly quiet worldwide. Bonds gained 5 ticks, Crude lost 20 cents, Gold added $3.00, and the USD was marginally higher. Tuesday starts the week in the US with Case-Shiller at 9:00, the Chicago PMI at 9:45, amd then Consumer confidence at 10:00. Best to your holiday!

MEDIUM TERM: a downtrend is likely from SPX 1371

LONG TERM: bull market


About tony caldaro

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34 Responses to monday holiday update

  1. CB says:

    Lee, with your vast trading experience u could open ur own college, u know, & that would be the best damn school there is. 🙂 I prefer not to think how expensive the tuition would have to be, but pls.let us know if you ever offer any scholarships if you decide to do it, OK Prof. Lee X? Also, when r u going to write that book about trading that we are all anxious to read…I think Rookie was right last week…every professional trader is a great book waiting to be written…. 🙂


  2. cwallace90 says:

    Hello All-

    I am currently a student in college and have been following Tony since the beginning of 2010. I am a long term bear but I highly respect him and his work. I look forward to exchanging thoughts and charts with everyone!




    • H D says:

      Sweet! I wanna go to college again…. Welcome aboard.


    • tony caldaro says:

      welcome Chris


    • CB says:

      Hi Chris! Looking forward to some exciting charts and bull/bear debates.
      P.S. “A telephone survey says that 51 percent of college students drink until they pass out at least once a month. The other 49 percent didn’t answer the phone.” Which group are you in, Chris? 🙂


    • CB says:

      That’s great Chris….….I didn’t drink when I went to school either, and it’s great to have something that ur 100% dedicated to….it must be $SPX that causes a lot of people to start drinking these days…. 😉
      Nice chart, Chris, thanks! we’re definitely at a heavy resistance here, even though we’ve had a break-out also.


      • cwallace90 says:

        LOL. Here is a fundamental reason why I am bearish: Our Debt money system. Here is an excellent documentary produced by a guy named Bill Still. He is a writer/director and monetary reformist who orginally directed “The Money Masters” in 1995, which predicted the economic crisis that we are currently in, and he explains why the problem will not be solved until we reform our broken monetary system. Here is a more recent film, called “The Secret of OZ” that explains the hidden monetary message in L. Frank Baum’s original work “The Wizard of OZ”. It is about 2 hours long but completely worth it IMHO.


  3. MGD says:

    It looks we finished something at 1311-1312….perhaps an abc from 1371
    Bullish case, if we retrace abt 50% or less than 61% in three waves and resume the uptrend and brake 1360.
    Bearish case, if we retrace abt 38%, resume the rally and fail to brake 1360…making three waves up and resume of the downtrend


  4. ewstockscpa says:

    Bullish case scenario……we have 5 waves up and now getting a corrective 2 before bigger move up

    Bearish scenario……market held and faded hard at Fib retracement of move down from 1371. Further breakdown at fib lower support would get retest of 1311 and possible C wave down further.


    • rfijoydeep says:

      In my opinion bullish case is playing out.1st wave done, now 2nd down won’t go bellow 1312,after that 3rd will go to 1348+ kind of level,but surely won’t go above 1370.After then C wave will create panic in the market and will bottom 1240-50 level in july’11 end.


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