Quote of The Day "If your strategy requires an ability to predict the future and/or a ridiculously high win percentage, your profitability is unsustainable."
-- The Trader |
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| Happy Friday The 13th...
Here are the charts that tell the story of where we are as we start this 2nd Quarter earnings season.
The S&P 500 broke out of the weekly triangle to the upside. As long as price remains above that trendline, the path of least resistance is to the upside. |
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Nikkei Weekly The Nikkei index remains structured to the upside. This week shows the strength of buyers... |
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German DAX Weekly The DAX looks like its ready to push higher having held last week's high, but the short term structure is less forgiving. Watch the March lows for an indication that the sellers are taking control. |
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UK ETF EWU Weekly Double support below... as long as price stays above, there's a chance that price will move higher. |
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TNX [10 Year Bond Yield] Weekly The 10 Year Bond Yield remains mired in a fairly tight range. |
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Crude Oil Weekly Crude remains below TMZ [TAOST Magnet Zone]... $80 is still a line in the sand for most analysts.
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Gold [GLD] Weekly Price remains above TMZ, but the Minor Trend is to the downside.
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The ES S&P Emini
ES Daily Chart As of 13 July 2018 Price pushed through this week's TAOST High Power Zone... Just short of the TPOI at 2810.25. |
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ES Swing [120 Minute] Chart As of 13 July 2018
Price remains inside TAOST Swing High Power Zone. It's structured to the upside, but tread lightly. |
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ES [60 Minute] Chart As of 13 July 2018
Price pushed up through resistance at 2797.75 and looks prepared to push even higher. |
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Summer Of TAOST Bias BIAS recovered losses from earlier in the week.
Click to review the trades spreadsheet. |
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As always, make up your own mind and mind your risk no matter what you do.
KIS,
The Trader
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