S&P500 - Key area 1358/64

Nothing to do above this level... Watch for a failure here...

FX - Are "crosses telling the same tail"?

Bulls need Euro above 1.27, AUD above 1.02 and JPY under 0.012435...

Still not enough!...

Very simple history in the near term...

Bulls need to keep cash above 1284.15 for a more pleasant hourly chart. That is the only level I will watch today. Above, bears must accept the continuation of the short term leg up.

I have to point out that since the beginning of May, S&P500 was unable to sustain above 50h e.m.a., which might really be the next level (1295/96) to re-enter in favour of the tide, but for now, just watch today´s close and 1284.15.

I will strongly defend my bias under that... Only under that.

CSCO - (Half) setup

I am expecting more downside in the markets, so this can support only half of a trading plan, as one should trade it against other stock or index (use SPY or QQQ). Look at CSCO as half of a pair trade...

Emini - Preparing a plan

Short term charts are telling me that we are (again) going lower. That´s my expectation if markets can´t take out last week highs (1329.75 ES_F).
Key level to watch for weakness and to get in: 1319, 1314, 1311.5, 1304/6.
The next natural target is in the range [1250,1265].
See also S&P500 - "Underwater" (cash levels)

Underwater...

S&P500 closed under 1371...

Closed also under 1343...

And under 1329...

Ok, one can argue that we are above 1310/16 and that´s the key level for those who defend a (short term) rally. I agree, so I won´t short above that.

Where are the bears?

As markets start to fall, everyone wants to find the bottom. Technicians use several indicators created from price (momentum indicators) and participants behavior (sentiment indicators).

One could expect, as prices plunge about 10% from the recent highs, that bears are everywhere, but I think that is an incorrect assumption...

As one can easily notest, this can be only the beginning...