Cisco tested yesterday mid-point

Although new highs today on NDX, CSCO didn´t manage to touch our medium term resistance @ 20.52. After that failure, sellers stopped right at the mid-point from the big white candle. So be carefull on the short side...

The hourly chart points down to the window from yesterday ([18.93,19.90]) session so pay attention to any failure above previous close (20.22). Keep in mind today´s high (20.38) and 20.52.

Down the Rabbit hole

"He´s gonna pop..." I already did it...

Down the Rabbit Hole

I have "no doubts" about the end of this on a longer term view. After 12 years of (as expected) bad decisions from those in charge, trying to save markets from "unexpected and prolonged contractions as they have in Japan over the past decade" (1996, "Mr I know what i did" - now we can speak about almost three??), I have less and less hope (which is sad as I have two kids)
They won´t do it this way. And we all be here to pay for their mistakes...

Nevertheless, one should remind about equity and survival, as "markets can stay irrational longer then one can stay solvent" (why is this sentence famous? Probably cause its true, which also means markets can be irrational, not "always right")

The bears, like me, must be at least in pain. They are right while arguing about the "need" of a stronger pullback, as I am, but more important then the evidences, must be our means to stay in the game...

One should draw a line and define a limit. Mine is last year high, on weekly chart. I still do not belive in a weekly close above 1371, but after yesterday, I had to "pop" and prepare to go back to formula...

I´m still here, with all the needed weapons to counter-attack. Again I´m still here...

I endorse my sincere congratulations to those who bought this year rally, as I, trading with some simple methods for more than 10 years, would never do it.
The structure is changing on the weekly chart, at least my view of it. Will I buy this breakout? Maybe later in the year, after a correction on daily chart. Not now, definitely!
VIX is under 15, I prefere individual stocks to get in on this environment.

Was the market just waiting for my "white towel" to fail? Yup, that is usual, so it might be the case again, it really doesn´t bother me now...

Euro still on track despite...

Great rally on S&P500...

Again, stock market completely disconnected from the dolar...

Who is guessing? I am!... Can dolar bears keep euro above 1.3239? I´m expecting 1.266...

Cisco DTOP

Even if we are facing (just) a consolidation before new highs (medium term target @ 22.22), one could defend a short term top and a test to medium term supports.

On a tradable time-frame, one can clearly identify a double-top (which target was already reached). This double-top can now evolve to a head & shoulders, supporting the (at least) consolidation scenario. But hey! Stay alert, the bias on Nasdaq-100 is still up, and most important of all, keep the plan simple, and trade IT...