Set up: Overbought based on daily RSI and Ultimate Oscillator.
Max upside target is 305-306 short term and I think it will pullback to 280's. I strongly believe PCLN will close at or below 300 (most likely 280) on August options expiration (OPX) based on current Open Interest in Aug calls and puts.
Strategy: Sell Aug 310 call and buy Aug 340 call for a CREDIT of 3.30 and above if it rallies next week.
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The content on this site is provided as information only and should not be taken as an investment advice. This site's content shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author and are for entertainment purposes only. Any investment decision that results in losses or gains made based on any information on this site is not the responsibility of the author.
I have been trading stocks since 2008 and options since 2009. I developed an interest in stock market from my mom, who has been trading in India since 1992. I have a day job and I primarily trade for fun. My interests are technical analysis and trading options. I primarily use support and resistance levels, fibonacci retracement levels, MACD and RSI as my trading tools. To me, Elliot waves are good to explain past market movements but they are not as good in predicting future market direction.
NIFTY Range Update
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- Weakness only if price breaks and closes below the range.
- Day closing above 5400 or inside this range will continue to favor
bulls as the tre...
Hubris Does Not Exist In 2012
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Well, it looks like I will be getting some new readers judging by how many
people retweeted my prior post. You see, that post was full of hubris, and
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This is volar with a quant and sentiment update. That being said, I did
something different today- I added some “fundamental” data on the bottom. I
did thi...
02/09/2012 Portfolio Update
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Sorry, just noticed the SSO position was wrong, should be 100 shares left
not 50 shares. This can be proven by the daily trading signals report where
the...
Thursday 2/9/12 Market Update
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If [v] is not already complete, the market is likely drawing out the final
waves of [v] as stated in yesterday's update. The short term count above
shows ...
2/9/12 - EOD Update
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There's no denying that this rally is getting long in the tooth and the
fact that this looks good as a wedge. The question is what stage is it in
if this...
thursday update
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SHORT TERM: new uptrend high, DOW +7 Overnight the Asian markets were
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index futures...
Live From The Traders Network: Listen To This Pro!
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Live From The Traders Network: Listen To This Pro!
Our Chief Market Strategists have dominated the markets in 2011, and their
members reaped the rewards ...
A Virtually Non-Existent Drawdown
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Major market indices worldwide are in rally mode, although US markets are
likely to take a short-term breather (probably today) after this big surge.
But a...
close to strong resistance
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Here is a daily bar chart showing the past 4 months trading in the March
'12 e-mini futures.
The market is getting close to a very important resistance lev...
Some Divergence Here
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Obviously calling tops has been a hopeless task during this big bull move,
and on the bigger picture I'm not seeing much to suggest that we might see
a rea...
2/9
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*The stock market video is posted below. *
Today the key points are that:
a) overnight, Greek leaders failed to agree to €300m of pension spending
cuts, ...
AEM long, exit 40-41
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TweetLikeTweetWeb Counter === PROFIT FROM SWING TRADING, learn the hidden
secret to understanding different timeframes. If you are an active swing
trader, ...
GOLD Daily Market Thought 07022012
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GOLD like I suspect and tweet few time last week, unable for now to break
and hold above [1765,1775] area.
Today test and hold first major support at th...
Feb 7
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Nasdaq 100 (weeks ago), Nasdaq Composite (last week), and now the Dow
Industrials (today) have made new recovery highs.
Daily Trend System is still firmly...
Bearish for SPX and Treasury
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Two signals take effect this week based on recent trader positioning as
reported in the Commitments of Traders reports: bearish for the *S&P 500* and
beari...
Let's Review The Chat Room Calls
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Hello everyone!
Wanted to do another VISUAL review of the setups that we were watching and
calling out in the chat room on friday. If you were in the chat ...
Subscription Policy
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Welcome to all subscribers and would be subscribers. You have two
subscription options a single month trial for $100, or a quarterly
subscription for $250/...
You Are Part Of The Herd
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I have a philosophy about life that everyone I meet has something to teach
me. From the panhandler to the successful entrepreneur it doesn't matter -
I kno...
Additional ...
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To complete the previous post, it may be a good idea to show the reasoning
behind our exit around 1200.
The following is my projection from August 12, 20...
EWI’s secret count
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Last week Steven Hochberg, of EWI, removed labels from his Short Term
Update (STU) because…. well because… His Elliott Wave Analysis has not been
working s...
Update...
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Not much progress has been made in either direction the past few days.
Either the bears take over soon or the bulls will drive this much much
higher. The...
Wave (c) Down
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Today’s late-afternoon decline indicates that wave (c) down has begun.
Minor 4 is unfolding as either an expanded flat or triangle, which we will
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ALERT!!!
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I have a new blog site up. This new blog site is better than this one.
Click on the following link to access it, www.dailymarketaction.weebly.com.
There are...
Another Crazy OPX Friday TGIF
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Well all I can say is this hs been one crazy week! I am so glad it’s Friday
I can’t even tell you…..:-) I am going to make this short and sweet, as I
expec...
ANOTHER CONFIRMATION MET
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This morning the miners met one more confirmation that needed to happen.
The point and figure chart has now turned bullish.
That's just one more tally tha...
SPX -FOREX
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First off I have been playing FOREX EUR/USD reason why I haven't posted
much about the SPX... So I would like to give a quick update on the SPX and
then an...
Kickoff! – Nov. 19
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Minute Degree Tops are usually Structures; bottoms are usually Spikes. A
Top in process will take days to form and can seem to take forever for a
Swing Tra...
Welcome to MarketTimingCycles.com
-
Welcome to MarketTimingCycles.com blog space. MarketTimingCycles.com is a
publisher and publishes analyses and reports providing information on
selected se...