Opening Play for Monday 8/18

8-17-2014 11-10-14 PM

Good Morning Traders!

The market had a healthy downside flush on Friday, in part due to rumors which were false.  The shakeout was constructive

as the market recovered nicely and weak hands were shaken loose.   There is potential for an inverted head and shoulders formation on the Russell.

The Nazdaq made another new high for the year.     1965.50 is a key high for the SPs (top of the breakdown bar).   Put call ratios hit bearish extremes 1 1/2 weeks ago and this should continue to be a supportive factor.

The EC has 14 days of price bar overlap.  The daily EMA comes in at 134.22.

Silver can start to form a 10 bar daily Buy Divergences window.  Friday was a downside breakout from an NR7 so it may need another 1-2 days of consolidation.

Roll to October Crude oil.

Lets have a great week!



Tradesheet from Snagit









Markets in BO Mode:

BOs from snagit