Opening Play for Tuesday 10/7

10-6-2014 11-46-04 PM

Good Morning Traders!


SPs are at a critical point in their down trending channel on the 120 minute  charts. A higher low would be needed if there were to be  better upside.  The Russell closed back below the daily 5 SMA.  The SPs and DOW have not.  The Dow is still right in the middle of a larger trading range….relatively  trendless for now.  Since the Russel  closed so week –  Watch first for further downside.  The DAX  closed below last Thursdays  close and is on an extended run to the downside.

There is a  three bar triangle   pattern on bonds,  tens and bunds.

We will update in the morning is there is any significant overnight action. no pinball Buys  or sells….lots of thre bar triangles in the currencies  but ranges  have been rather parge to expect any true “breakout”.

Trade Sheet below!

Have a great day!


Tradesheet from Snagit



Markets in BO Mode:

BOs from snagit