Opening Play for Wednesday 12/17


12-16-2014 11-13-20 PM

Good Morning traders!

The above chart shows the short term summation tick index.  Note how at the last low, it formed a Buy divergence. it is currently at the lower end of its range, and the market can still react back up/consolidate, but the odds favor that a buy divergence will ultimately form before a more sustainable low is in place.  On the top right chart below, Tuesday’s extreme volatility put in a significant high and low.  Look for a consolidation day as market participants may be in need of rest  (like me).

The EC is at a resistance level.  The daily osc is high, and the daily osc on the dollar index has corrected down low.  The EC is on a Sell Short Day.

Beans can have downside follow through.  They are currently the weakest in the grain complex and the Wheat is overextended to the upside.

Lastly, Gold and Silver have Buy Day’s on the 2-period ROC.   Any upside reaction may be limited to the 60/120 minute EMA where resistance can come in.

1981 – 1987 contained the majority of Tuesdays trading in the SPs….important levels to the upside.

have a great Day!



12-16-2014 11-26-39 PM

Tradesheet from Snagit

Markets in BO Mode:

BO Mode

Economic Numbers for Wednesday 12/17 in CST:

3:30am GBP MPC Official Bank Rate Votes and GBP Claimant Count Change

7:30am USD CPI m/m and USD Core CPI m/m

9:30am USD Crude Oil Inventories

1:00pm USD FOMC Statement, Federal Funds Rate, FOMC Economic Projections

1:30pm USD FOMC Press Conference