Technical Momentum Outlook – Week 52

Portion of Article posted HERE @ Seeitmarket 


BIG PICTURE

Week 51, you would have never known it was here based on it’s low volume, though micro-trending sessions at a turtles pace. For some, this is the optimal market as it was for the better  part, range-bound. Expecting more of the same as we roll into next week, market indices not exactly migrating higher but also not breaking through support downside. The ever looming all time high on the YM/DOW holds above for now and it’s day sure to come. Meanwhile, keep your eyes on the hourly levels in combination with your trending strategy of choice. As stated last week, “consolidation in the indices may just be what the market needs at this point for the next move. Being ready in both directions may be your best offense.”  Intraday charts may surely have a setup or two in the first 2.5 hours of US market open. Otherwise, turn your attention to markets as in the commodities and look for opportunity. There is always the option to just relax and sit out week 52 and see what is outside that cave you bury yourself in all year. 

As always, leave your bias at the door of where you think the market should be, watch the charts in front of you and stay away from the Z-Vals. Be ready in both directions. Trend will reveal itself on Heikin Ashi bars and proper trade management will keep you in the trend.


Outlook Video: 

Markets Covered: ES, YM, NQ, CL, GC and 6E


**Disclaimer: Attempting to determine which way a market will go on any given day is merely a guess in which some will get it right and some will get it wrong. Being prepared in either direction intraday for the strongest probable trend is by plotting your longer term charts and utilizing an indicator of choice on the lower time frame to identify the setup and remaining in the trade that much longer. Any chart posted here is merely a snapshot of current technical momentum and not indicative of where price may lead forward.


NQ – Nasdaq Futures

Current Trend: Uptrend Pullback

Using the Murray Math Level (MML) charts on higher time frames can be a useful market internal tool as price action moves amongst fractal levels from hourly to daily charts. Confluence of levels may be levels of support/resistance or opportunities for a breakout move.

2016-12-23-nq-big-pic-mml

Zones to Watch

mml-nq

Nearest Open Daily Gap: 4882.5

Lowest Open Gap: 4017


ES – S&P Futures

Current Trend: Uptrend Pullback

2016-12-23-es-big-pic-mml

Zones to Watch

mml-es

Nearest Open Daily Gap: 2197.25

Lowest Open Gap: 1860.75


YM – DOW Futures

Current Trend: Uptrend Pullback

2016-12-23-ym-big-pic-mml

Zones to Watch

mml-ym

Nearest Open Daily Gap: 18929

Lowest Open Gap: 15924


IJR – Small Cap ETF

Current Trend: UPTREND

2016-12-23-ijr

  • Buy Point: 107.4
  • Gain: 29%
  • Next Action: January, 2017

ETF Sectors

Coming in January, 2017


Thanks for reading and remember to always use a stop at/around key technical trend levels.


Don’t forget to view the end-of-the-day charts as momentum in the markets can shift substantially from day to day and reset any charts posted above.


Government Required Risk Disclaimer and Disclosure Statement

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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One thought on “Technical Momentum Outlook – Week 52

  1. Merry Christmas David,and a happy and healthy new yearregards from germanytom

    TradingFibz schrieb am 2:40 Samstag, 24.Dezember 2016:

    #yiv9445017891 a:hover {color:red;}#yiv9445017891 a {text-decoration:none;color:#0088cc;}#yiv9445017891 a.yiv9445017891primaryactionlink:link, #yiv9445017891 a.yiv9445017891primaryactionlink:visited {background-color:#2585B2;color:#fff;}#yiv9445017891 a.yiv9445017891primaryactionlink:hover, #yiv9445017891 a.yiv9445017891primaryactionlink:active {background-color:#11729E;color:#fff;}#yiv9445017891 WordPress.com | TradingFibz posted: “Portion of Article to be posted HERE @ SeeitmarketBIG PICTUREWeek 51, you would have never known it was here based on it’s low volume, though micro-trending sessions at a turtles pace. For some, this is the optimal market as it was for the bette” | |

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