Free Swing Trading and Day Trading Picks & Education

The recent 30-min intraday chart of Crude Oil (futures �" CL) serves as a great example of how a certain type of price reversal forms, along with showing specific components that go into the short-term trend reversal process.

Let’s take a moment to learn from this example and see the applicable lessons in this situation:

I’ll move quickly so be sure to follow along �" these components (divergences, kick-offs, and breakouts) are topics on which I’ve presented entire webinars or speaking presentations, and this example is a bit of a quick “all in one” summary of these topics.

Let’s take it bit by bit in terms of the sequential PROCESS of a short-term trend reversal.

1. MULTI-SWING MOMENTUM DIVERGENCES

Under the principle “Momentum Precedes Price,” positive momentum divergences (particularly those of the ‘multi-swing’ variety) often precede positive price reversals.

I’m using the 3/10 MACD Oscillator as my preferred momentum indicator (change your MACD to [3, 10, 16], or [3, 10, 0] to replicate).

So we have a new oscillator low just before November 14th and from there, though price traded lower, the oscillator formed HIGHER lows, particularly those from Nov 17 forward to the absolute price low on November 23.

Ok, so that’s condition 1 complete �" multi-swing positive momentum divergences often precede reversals. Check.

2. KICK-OFF MOMENTUM BURSTS

I’ve also referred to these as “Wyckoff Signs of Strength,” wherein a momentum oscillator or market internal (in stocks) makes a new chart high when price is clearly NOT making a new chart high (on a relative/short-term basis).

I call these “Kick-offs” because they can often “kick-off” a new trend ahead of an actual price reversal or official breakout yet to come.

Richard Wyckoff described these (similarly) in his Life Cycle of a Stock Move model (often occurring after a distinct accumulation/consolidation phase, as in the case of a stock).

Like a football moving quickly down the field after a punt or kick-off, odds are that price will similarly continue moving in the SAME direction as the kick-off signal.

This is also based on the Momentum Principle, wherein New Momentum Highs often precede New Price Highs yet to come.

When a kick-off clearly forms after a multi-swing divergence, it’s certainly time to cover short positions and �" for aggressive traders �" time to consider getting long on the immediate pullback or on a breakout signal.

For reference, I’m pointing to TWO kick-off signals.

The initial one on November 23 AHEAD of the official price breakout, and then of course the obvious new momentum high and second ‘kick-off’ the next day on November 24.

3. OFFICIAL BREAKOUT

If you’re a new trader and haven’t heard of the multi-swing divergence or Kick-off concepts, then you’ve almost certainly heard of a price breakout.

No need to get fancy here �" price clearly broke out above the recent short-term range at the $82.00 level and above a declining trendline from the prior two swing-highs as drawn.

Breakouts are good places for aggressive traders (willing to tolerate risk) to get long to play for a big target in the event that price does indeed reverse its trend and the breakout is real.

Traders need to enter breakouts as early as possible and hold on for as long as possible �" though that’s a much more complicated task than it seems and than a single blog post can address.

I’ll be discussing Execution Tactics at the New York Trader’s Expo in February 2011 (look into attending now and registering early!).

Anyway, with these three sequential components complete on the intraday basis, what was the result (so far?):

A rally from the $82 breakout to the $86 level a few days later, and potentially beyond that if the trend continues (as of this writing on Dec 1).

When you’re looking to confirm a reversal, or see if a breakout is more likely to be real than a trap, look to see if positive multi-swing divergences preceded it (perhaps on a lower timeframe) and if so, look for an initial “Kick-off” sign of strength signal after that, and while it won’t always result in magic money, it will give you a structure and plan to follow for future trades.

Corey Rosenbloom, CMT
Afraid to Trade.com

The form exhibited by the decline in Newmont Mining (NYSE: NEM) from its September 22 high at 65.50 into Monday's low at 57.31 has the right look of a completed correction into the area of the sharply rising 200-day moving average (57.18) amidst a glaring positive momentum (RSI) divergence.

insert.a.chart.NEM

This technical combination represents critical support that so far has provided a launch pad from where the price structure can pivot strongly to the upside. As long as last week's low remains intact at 57.31, this should be the start of a new upleg within an intermediate-term bull trend.

Next upside targets: 59.50/60, and then 60.50-61.00.

Private-sector payrolls rose by a net 93,000 last month, according to this morning's release of the ADP National Employment Report. That's the 10th straight month of increases and the largest monthly rise in three years for this series. The news comes just in time to temper the sour trend in yesterday's update on housing prices for the third quarter.

ADP labels last month's gain as an "acceleration" in the labor market, which "suggests the nation's employment situation is brightening somewhat." That's welcome news, of course, but even an optimistic spin can't change the fact that job growth is still sluggish. As ADP explains in the accompanying press release:

Employment gains of this magnitude are not sufficient to lower the unemployment rate, which likely will remain above 9% for all of 2011. Furthermore, given modest GDP growth in the second and third quarters, and the usual lag of employment behind GDP, it would not be surprising to see several more months of only moderate gains in employment even as the economic recovery gathers momentum.

The next installment on reading the labor market arrives tomorrow, with the release of initial jobless claims for last week. The stakes are fairly high for the next data point, considering last week's news that new unemployment applications dropped to 407,000 for the week through November 20 the lowest since July 2008. Is that the long-awaited sign that new jobless claims are finally poised to trend lower after a year of moving sideways?

Economists aren't expecting a big change in tomorrow's jobless claims from the week before. In fact, the consensus forecast is 422,000, or a slight rise from the previous week, according to Briefing.com. But that would be good news if only because it suggests that the lower levels of new filings are holding, and that last week's report wasn't a fluke.

But even if tomorrow's news is good, there's no quick fix in sight. "We're not growing fast enough to materially reduce the unemployment rate, Fed chairman Ben Bernanke reminded yesterday in a speech. At least there's one opinion from the central bank that's not controversial.

The 10-year Treasury Note Yield rallied to a critical resistance level today, and the corresponding bond fund �" IEF �" fell to a critical support level today.

Let’s take a quick look at these important levels and play the “Will it Hold or Break-through” game, with targets to take note.

First, the 10-Year Treasury Note Yield Chart:

Keep in mind the way StockCharts reports yield �" right side of the chart �" is actually in reference to a percentage. For example, 30 actually means 3.0%, and 24 (support) means 2.4% in Treasury Yields.

It’s important to make that connection.

And right now, the most important thing to know is that 10-year Treasury Yields are pushing up against the 3% boundary and ‘threatening’ to make a breakthrough.

It would be a slight embarrassment to the Federal Reserve should Treasury Yields rocket higher above the 3% level here �" as their QE2 actions (buying Treasuries) are intended specifically to push yields down… so watch for a bit of ironic comic relief if indeed yields do crack strongly above the 3% threshold.

Take a look at the positive momentum divergence on the push under 2.4% in October �" that’s often a sign of potential reversal, and so far we’re seeing the follow-through in higher yields after a divergence.

Whether or not this rally from October to present is just a ‘counter-trend retracement’ or the start of a whole new up-trend is depending on what happens at the 3.0% yield level �" a sharp break above there �" and namely above 3.1% (the 200 day SMA) argues for a trend reversal up in yields.

And of course, should yields fail to break above 3.0%, then we just witnessed a decent-sized retracement up into key resistance.

That’s why it’s going to be so important to watch the 3.0% level in the weeks ahead.

While you can’t trade yields, you can trade corresponding ETFs, and one of the most popular (aside from the TLT) is the IEF, which is the iShares 7-10 Year Treasury Bond Fund.

Remember that bond YIELDS (in percentages) are always inverse bond PRICES (in dollars), so while yields are threatening to break through resistance, prices are threatening to break down through support.

Here �" take a look at the IEF Daily Chart:

The key to watch in the ETF is the $96 level which is similar to the 3.0% level in yield. It is a thrice-tested price level that will give a strong clue as to whether to expect a continuation of the uptrend… or a reversal/switch in trend.

Downside levels to watch include the $94 level (200 day SMA) along with any weekly levels or prior swing lows.

Just as we had a positive momentum divergence in Yields going into October (forecasting a potential reversal), we had a NEGATIVE momentum divergence in prices at the October high.

So, while we’re here at the key levels, watch them very closely for clues of continuation (if they hold) or potential reversal (if they don’t).

Corey Rosenbloom, CMT
Afraid to Trade.com

I am going to make this post short as I have a ton of things to do today, but I think it is important to comment on the $EURUSD. Though the day is not over, the crude daily�momentum is turning bullish on the EURUSD, possibly because the initial scare of the Ireland bailout has passed for now (though, as one has read if one is paying attention, Spain and Italy are next in line).� Let's look at the daily chart.

Key points: Major support on the $EURUSD is 1.2919. So far, the lowest low of this most recent correction is 1.2971. Since the open in Europe, we have breached 1.3100.� What one must realize is the following (let's look at other daily�charts to explain what could happen in EITHER direction):

1) The symmetry of the XABCD pattern, particularly around the ABCD pattern is solid AND we have four confluence zones hitting around that 1.2971 low. That is a very bullish pattern for the EURUSD.

2) IF that 1.2971 support holds, then the next new daily target should be at least previous support (now resistance) at 1.3447. The 0.618 retracement at 1.3473 would be the main Fibonacci retracement target.

3) IF 1.2971 FAILS (and folks, it could, as the news flow is about as wacky as it gets these days with all the problems in the Eurozone), the next target low would likely be around 1.2750, and the extended low would be around 1.2466.

If the�scenario in point 2 happens, we will likely see a strong reflex bull rally in U. S. equities. Anything that is perceived as helping U.S. multinational companies to keep their exports cheap in foreign markets (as would be the case with a weakened dollar), traders and institutions will once again buy on the dip and drive prices higher.

If scenario 3 happens, we would see large cap U.S. equities continue to sink. Anything that makes the U.S. dollar look stronger (like bankrupt�members of the European Union), the U.S. dollar in the Federal Reserve garbage bin will be deemed superior to the Euro in the European Central Bank garbage bin.

Right now, Fibonacci patterns favor the bulls, but remember we are seeing unprecedented concerns about sovereign debt worldwide. This debt contagion will play out like a really bad soap opera, and since traders get as emotional as addicted viewers to soap operas, the volatility is probably going to increase. Be ready for that by limiting position sizes and using stops. Do not move stops at a whim either. Make sure you have volatility stops (based on something like an average true range criteria) to allow the trades to breathe. Volatility is a trader’s friend, but ONLY if it is managed.

As I see things, I will report on them. Thanks to all who have been patient with this transition with The Buffalo Trader blog. I am not disappearing, but I am trying to keep this blog compliant, educational, and helpful to traders. It will be at least mid-December before I can get clear on how to drive this ship. The captain, however, is not letting go of the wheel!

EUR/USD

The Euro remained firmly on the defensive during Tuesday and tested support levels below 1.30 for the first time since mid September before stabilising just above this level.

As has been the case over the past few days, the market was dominated by developments within the Euro-zone and increased market fears over the Euro outlook. There was a further widening of yield spreads and credit default swaps during the day. Although again focussed on Spain and Portugal, there was also a widening of spreads for countries such as Belgium which indicates that stresses are spreading.

Confidence was undermined further by a warning by Standard & Poor's that Portugal's credit rating was liable to be downgraded while there was also speculation that the Irish bailout package could be rejected by parliament. There was some relief that there was no action on France's credit rating by the agencies.

The Thursday ECB meeting will be very important for market sentiment with the central bank under strong pressure to act decisively to restore market confidence. There will also be speculation that the ECB will be forced to move away from plans to withdraw the extraordinary liquidity.

The US economic data was slightly stronger than expected with an increase in consumer confidence to 54.1 from a revised 49.9 the previous month while the Chicago PMI index rose to the highest level since May. The data should provide some degree of dollar support, especially if the labour-market data is stronger than expected on Wednesday. The Euro continued to consolidate just above 1.30 in Asia on Wednesday.

Source: VantagePoint Intermarket Analysis Software

Call now and you will be provided with FREE recent forecasts
that�are up to�86% accurate�* 800-732-5407
If you would rather have the recent forecasts sent to you, please go here

Yen

The dollar was unable to gain any renewed support on Tuesday and weakened to lows just below 83.50 against the Japanese currency.

International risk appetite remained generally weaker as the Euro-zone stresses continued to dominate markets. There will be further speculation over capital repatriation from European bonds which will tend to underpin the Japanese currency, especially if wider risk appetite fades.

The latest Chinese PMI data was slightly stronger than expected which will support near-term hopes over the Asian economic outlook, but there will also be fears that the Chinese authorities will have to tighten monetary policy further which would undermine risk appetite.

The dollar remained generally on the defensive in Asia on Wednesday with the US currency below the 83.80 level.

Sterling

Sterling maintained a weaker tone against the dollar in Europe on Tuesday and dipped to test support below the 1.55 level for the first time in over two months. Sterling found support at lower levels and rebounded to near 1.56 while it made further progress against the Euro with a high near 0.8320.

There will still be unease over the domestic economy with expectations of a renewed and potentially sharp slowdown early in 2011 as tax increases come into effect. The latest Nationwide house-price data recorded a further decline in prices for November and overall consumer spending has been subdued.

For now, the UK relationship with the Euro-zone economy will remain very important for Sterling valuations.� Sterling will still tend to gain some protection from the lack of confidence in the Euro area with potential defensive inflows. There will, however, also be unease over the UK impact, especially with concerns that the banking sector will be vulnerable to renewed stresses.

In this environment, there is certainly the risk that Sterling sentiment will reverse rapidly, but the currency was holding steady in early Asia on Wednesday.�

Swiss franc

The Euro found some support below 1.30 against the Swiss franc on Tuesday and managed to regain this level during the session. The dollar was also able to find support blow parity and edged higher during the US session.

Stresses within the Euro-zone will remain an extremely important focus in the near term and the will be defensive inflows into the currency on persistent fears over the Euro-zone outlook. Markets will be monitoring comments from the National Bank closely given the potential for renewed fears over deflation.

Source: VantagePoint Intermarket Analysis Software

Call now and you will be provided with FREE recent forecasts
that�are up to�86% accurate�* 800-732-5407
If you would rather have the recent forecasts sent to you, please go here

Australian dollar

The Australian dollar was unable to regain the 0.9650 level against the US currency during Tuesday and generally drifted weaker in choppy trading conditions.

Domestically, the latest GDP data was weaker than expected with growth of 0.2% for the third quarter compared with 0.5% and this put the currency under fresh pressure with renewed fears over a slowdown in the economy.

With underlying risk appetite also weaker, the Australian currency weakened to 2-month lows near 0.9520 against the US currency before finding some buying support. Although the Chinese data was firmer than expected, doubts over the sustainability of the situation will continue.

March sugar closed down 80 points at 27.55 cents yesterday. Prices closed nearer the session low yesterday and scored a bearish "outside day" down on the daily bar chart. The key "outside markets" were in a bearish posture for sugar yesterday, as the U.S. dollar index was stronger and U.S. stock indexes and crude oil prices were
weaker. Bulls do still have the overall near-term technical advantage. Bulls' next upside price objective is to push and close prices above technical resistance at 29.30 cents. Bears' next downside price objective is to push and close prices below solid technical support at the November low of 25.30 cents. First resistance is seen at 28.00 cents and then at 28.50 cents. First support is seen at yesterday's low of 27.03 cents and then at 26.50 cents.

Wyckoff's Market Rating: 6.0

Source: VantagePoint Intermarket Analysis Software

Call now and you will be provided with FREE recent forecasts
that�are up to�86% accurate�* 800-732-5407
If you would rather have the recent forecasts sent to you, please go here

March coffee closed down 175 points at 200.90 cents yesterday. Prices closed nearer the session low yesterday and closed at a fresh two-week low close. The key "outside markets" were in a bearish posture for coffee yesterday, as the U.S. dollar index was stronger and U.S. stock indexes and crude oil prices were weaker. Coffee bulls still have the overall near-term technical advantage, but have faded recently and need to show fresh power soon. Bulls' next upside objective is to close prices above solid technical resistance at last week's high of 213.25 cents. The next downside price objective for the bears is closing prices below solid technical support at 198.30 cents a pound. First resistance is seen at yesterday's high of 204.00 cents and then at 205.00. First support is seen at 200.00 cents and then at 198.30 cents.

Wyckoff's Market Rating: 6.0

March cocoa closed up $67 at $2,822 yesterday. Prices closed nearer the session high yesterday on short covering. Trading has turned choppy. Prices are in the middle of a choppy trading range on the daily chart. The next upside price objective for the cocoa bulls is to push and close prices above solid technical resistance at $2,900. The next downside price objective for the bears is pushing and closing prices below solid technical support at the November low of $2,729. First resistance is seen at this week's high of $2,846 and then at $2,875. First support is seen at $2,800 and then at $2,775.

Wyckoff's Market Rating: 5.0.

March cotton closed up 158 points at 117.34 cents yesterday. More short covering and perceived bargain-hunting buying were featured yesterday. Prices are still in a three-week-old downtrend on the daily chart. There are still technical warning signals that a market top is in place. A V-Top reversal pattern has formed on the daily chart, amid extreme price volatility. The next downside price objective for the cotton bears is to produce a close below solid technical support at last week's low of 111.13 cents. The next upside price objective for the bulls is to produce a close above solid technical resistance at 125.00 cents. First support is seen at 116.00 cents and then at 115.00 cents. First resistance is seen at yesterday's high of 118.90 cents and then at 120.00 cents.

Wyckoff's Market Rating: 5.0.

January orange juice closed down 100 points at $1.4920 yesterday. Prices closed near the session low yesterday and hit a fresh five-week low. Prices also closed at a bearish monthly low close yesterday. The bulls are fading. The next upside price objective for the FCOJ bulls is pushing and closing prices above strong technical resistance at last week's high of $1.5600. The next downside technical objective for the FCOJ bears is to produce a close below solid technical support at $1.4500. First resistance is seen at $1.5000 and then at yesterday's high of $1.5150. First support is seen at yesterday's low of $1.4900 and then at $1.4750.

Wyckoff's Market Rating: 4.5.

January lumber futures closed up $1.30 yesterday at $247.00. Prices closed near mid-range yesterday and saw short covering in a bear market. Lumber bears have the near-term technical advantage. The next downside technical objective for the lumber bears is pushing and closing prices above below technical support at the October low of $237.30. The next upside price objective for the bulls is pushing and closing prices above solid technical resistance at $255.00. First resistance is seen at yesterday's high of $248.30 and then at $250.00. First support is seen at $245.00 and then at $242.50.

Wyckoff's Market Rating: 3.0.

Is the housing recovery losing steam? It's harder to dismiss the possibility after reading today's update of the S&P/Case-Shiller Home Price Indices. Nationally, U.S. housing prices fell 2.0% in this year's third quarter over the previous three months. That's a sharp deceleration from the 4.7% rise in this year's second quarter.

Looking at national housing prices on a rolling annual basis doesn't brighten the trend. As the chart below shows, U.S. home prices overall in September were 1.5% lower compared with 12 months ago. While housing prices are still above their spring 2009 lows, the end of the tax incentives and still active foreclosures appear to be weighing down the market, S&P advises in a press release.

By some accounts, it all adds up to a humbled outlook for real estate in the foreseeable future. Housing is on the brink of another substantial downturn, warns Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott. Supply far exceeds demand and the only remedy is further price declines, he says via Bloomberg.

Even the ailing labor market is doing better than housing. No one will confuse the modest gains in net private nonfarm payrolls this year as a robust recovery, but the trend at least remains positive.

Not so for housing, according to the latest Case-Shiller numbers. If housing is faltering once again, there will be repercussions. As Professor Alex Schwartz reminds in his book Housing Policy in the United States , Housing is a mainstay of the U.S. economy, consistently accounting for more than one fifth of the gross domestic product.

If housing is in fact destined for a new downturn, the debate will be largely over how deep the damage. As Christopher Low, chief economist at FTN Financial, reminds via Reuters: "As far as consumers go, housing's not quite as significant as it used to be, but there is still a wealth effect. Falling home prices, for a lot of people, means that their wealth is eroding."

Ongoing housing weakness inspires rethinking some of the recent optimism tied to the uptick in markets and several non-housing corners of the economy. Was the autumn revival merely a headfake? It's too soon to say for sure, but today's housing update has injected a new strain of anxiety into the debate about what comes next.

At the very least, the latest dip in the Case-Shiller national index creates more pressure for good news in the next batch of economic reports. The crowd needs encouraging data points to temper the disappointing housing update. The rest of the week won't disappoint for fresh macro meat to chew on, for good or ill, starting with tomorrow's updates on the ISM Manufacturing Index, construction spending, auto sales, and ADP's estimate of payrolls for November. Thursday brings word of last week's tally of new jobless claims.

The big number arrives on Friday when the government publishes its nonfarm payrolls report for last month. The consensus estimate calls for a gain of 140,000, according to Briefing.com. Will that be enough to calm the bears and steady the bulls? Stay tuned.

�SOFTS: March sugar closed down 80 points at 27.55
cents today. Prices closed nearer the session low today
and scored a bearish "outside day" down on the daily bar
chart. The key "outside markets" were in a bearish
posture for sugar today, as the U.S. dollar index was
stronger and U.S. stock indexes and crude oil prices were
weaker. Bulls do still have the overall near-term
technical advantage. Bulls' next upside price objective
is to push and close prices above technical resistance at
29.30 cents. Bears' next downside price objective is to
push and close prices below solid technical support at
the November low of 25.30 cents. First resistance is seen
at 28.00 cents and then at 28.50 cents. First support is
seen at today's low of 27.03 cents and then at 26.50
cents. Wyckoff's Market Rating: 6.0

March coffee closed down 175 points at 200.90 cents
today. Prices closed nearer the session low today and
closed at a fresh two-week low close. The key "outside
markets" were in a bearish posture for coffee today, as
the U.S. dollar index was stronger and U.S. stock indexes
and crude oil prices were weaker. Coffee bulls still have
the overall near-term technical advantage, but have faded
recently and need to show fresh power soon. Bulls' next
upside objective is to close prices above solid technical
resistance at last week's high of 213.25 cents. The next
downside price objective for the bears is closing prices
below solid technical support at 198.30 cents a pound.
First resistance is seen at today's high of 204.00 cents
and then at 205.00. First support is seen at 200.00 cents
and then at 198.30 cents. Wyckoff's Market Rating: 6.0

March cocoa closed up $67 at $2,822 today. Prices closed
nearer the session high today on short covering. Trading
has turned choppy. Prices are in the middle of a choppy
trading range on the daily chart. The next upside price
objective for the cocoa bulls is to push and close prices
above solid technical resistance at $2,900. The next
downside price objective for the bears is pushing and
closing prices below solid technical support at the
November low of $2,729. First resistance is seen at this
week's high of $2,846 and then at $2,875. First support
is seen at $2,800 and then at $2,775. Wyckoff's Market
Rating: 5.0.

March cotton closed up 158 points at 117.34 cents today.
More short covering and perceived bargain-hunting buying
were featured today. Prices are still in a three-week-old
downtrend on the daily chart. There are still technical
warning signals that a market top is in place. A V-Top
reversal pattern has formed on the daily chart, amid
extreme price volatility. The next downside price
objective for the cotton bears is to produce a close
below solid technical support at last week's low of
111.13 cents. The next upside price objective for the
bulls is to produce a close above solid technical
resistance at 125.00 cents. First support is seen at
116.00 cents and then at 115.00 cents. First resistance
is seen at today's high of 118.90 cents and then at
120.00 cents. Wyckoff's Market Rating: 5.0.

January orange juice closed down 100 points at $1.4920
today. Prices closed near the session low today and hit a
fresh five-week low. Prices also closed at a bearish
monthly low close today. The bulls are fading. The next
upside price objective for the FCOJ bulls is pushing and
closing prices above strong technical resistance at last
week's high of $1.5600. The next downside technical
objective for the FCOJ bears is to produce a close below
solid technical support at $1.4500. First resistance is
seen at $1.5000 and then at today's high of $1.5150.
First support is seen at today's low of $1.4900 and then
at $1.4750. Wyckoff's Market Rating: 4.5.

January lumber futures closed up $1.30 today at $247.00.
Prices closed near mid-range today and saw short covering
in a bear market. Lumber bears have the near-term
technical advantage. The next downside technical
objective for the lumber bears is pushing and closing
prices above below technical support at the October low
of $237.30. The next upside price objective for the bulls
is pushing and closing prices above solid technical
resistance at $255.00. First resistance is seen at
today's high of $248.30 and then at $250.00. First
support is seen at $245.00 and then at $242.50. Wyckoff's
Market Rating: 3.0.

Wednesday, December 1--Jim Wyckoff's Morning Web
Log

JIM'S MARKET THOUGHT OF THE DAY *

The U.S. dollar index is weaker this morning and
most commodity markets have responded by trading
higher. As the calendar turns to December and the
year is winding down, price volatility in many
markets may decrease and trading action may become
more sideways and choppy.--Jim

STOCK INDEXES

S&P 500 futures: The shorter-term moving averages
are bearish early today. The 4-
day moving average is below the 9-day. The 9-day is
below the 18-day moving average. Short-term
oscillators are neutral to
bullish early today. Today, shorter-term technical
resistance comes in at 1,200.00 and then at last
week's high of 1,206.00. Buy stops likely reside
just above those levels. Downside support for
active traders today is located at the overnight
low of 1,176.50 and then at November low of
1,171.00. Sell stops are likely located just below
those levels. Wyckoff's Intra-day Market Rating:
6.0

Nasdaq index futures: The shorter-term moving
averages are bearish early today.
The 4-day moving average is below the 9-day. The 9-
day average is below the 18-day. Short-term
oscillators are neutral
early today. Shorter-term technical resistance is
located at the overnight high of 2,140.50 and then
at Tuesday's high of 2,147.50. Buy stops likely
reside just above those levels. On the downside,
short-term support is seen at 2,125.00 and then at
the overnight low of 2,110.75. Sell stops are
likely located just below those levels. Wyckoff's
Intra-Day Market Rating: 6.0

Dow futures: Sell stops likely reside just below
support at 11,055 and then more stops just below
support at 11,000. Buy stops likely reside just
above technical resistance at last week's high of
11,172 and then at 11,200. Shorter-term moving
averages are bearish early today, as the 4-day
moving average is below the 9-day. The 9-day moving
average is below the 18-day moving average.
Shorter-term oscillators
are bearish early today. Wyckoff's Intra-Day Market
Rating: 6.0

U.S. TREASURY BONDS AND NOTES

March U.S. T-Bonds: Shorter-term moving averages
are neutral early today. The 4-day
moving average is above the 9-day. The 9-day is
below the 18-day moving average. Oscillators are neutral early today. Shorter-
term resistance lies at 126 16/32 and then at 127
even. Buy stops likely reside just above those
levels. Shorter-term technical support lies at 126
even and then at this week's low of 125 18/32. Sell
stops likely reside just below those levels.
Wyckoff's Intra-Day Market Rating: 4.0
�
MARCH U.S. T-Bonds

134 4/32--lifetime high
131 16/32--Previous Month's high
129 1/32--100-day moving average
128 17/32--second pivot point resistance
128 --previous day's high
127 26/32--first pivot point resistance
127 8/32--pivot point
127 2/32--previous day's close
126 24/32--18-day moving average
126 23/32--previous day's low
126 17/32--first pivot point support
126 6/32--4-day moving average
126 2/32--9-day moving average
125 31/32--second pivot point support
123 26/32--previous month's low
120 26/32--lifetime low

March U.S. T-Notes: Shorter-term moving averages
are bearish early today. The 4-day
moving average is below the 9-day. The 9-day is
below the 18-day moving average. Oscillators are neutral to bearish early
today. Shorter-term resistance lies at 123.24.0 and
then at 124.00.0. Buy stops likely reside just
above those levels. Shorter-term technical support
lies at 123.07.0 and then at the November low of
123.01.5. Sell stops likely reside just below those
levels. Wyckoff's Intra-Day Market Rating: 4.0

MARCH U.S. T-Notes

127 7/32--lifetime high
127 7/32--previous month's high
124 28/32--second pivot point resistance
124 23/32--18-day moving average
124 18/32--previous day's high
124 14/32--first pivot point resistance
124 5/32--pivot point
124 2/32--100-day moving average
124 1/32--previous day's close
123 27/32--9-day moving average
123 27/32--previous day's low
123 24/32--4-day moving average
123 23/32--first pivot point support
123 14/32--second pivot point support
123 1/32--previous month's low
109 25/32--lifetime low

U.S. DOLLAR INDEX

The March U.S. dollar index is weaker in early
trading today, on a corrective pullback after
prices hit another 2.5-month high on Tuesday. Slow
stochastics for the dollar index are bearish early
today. The dollar index finds shorter-term
technical resistance at 81.50 and then at the
overnight high of 81.82. Shorter-term support is
seen at 81.00 and then at this week's low of 80.60.
Wyckoff's Intra Day Market Rating: 4.0

CRUDE OIL

Crude oil prices are higher early today. Trading
has become choppy in crude. In January crude, look
for buy stops to reside just above resistance at
the overnight high of $85.53 and then at this
week's high of $85.90. Look for sell stops just
below technical support at $85.00 and then at
$84.50. Wyckoff's Intra-Day Market Rating: 5.5

GRAINS

Prices were solidly higher in overnight trading.
Strong price gains in the grains today would
provide the bulls with fresh upside near-term
technical momentum. I am still longer-term bullish
the grains.

Some Potential Swing Trading Opportunities for today...

These stocks will be monitored by you every day!!! Follow the master plan and you will be on your way to learn to trade stocks like a PRO... enjoy...

The results are generated by my stock screener. Only the first 5 results are displayed here for every scan.

For full results, subscribe now to StockScanPRO for 30 days FREE, then only pay $9.99 a month!.

SECRETS TO GREAT RESULTS:
CONFIDENCE - PATIENCE- FOCUS - DISCIPLINE

Long Swings

Window

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 7) and (adx(10) > 30) and (pdi(10) > mdi(10)) and (high() < sma(close,5))

Results for NASDAQ

Results for NYSE

AAN	NYSE	Aaron's Inc.	11/30/2010
AEO	NYSE	American Eagle Outfitters, Inc.	11/30/2010
AVT	NYSE	Avnet Inc	11/30/2010
BWC	NYSE	BlackRock World Investment Trust	11/30/2010
DDS	NYSE	Dillards Inc.	11/30/2010

Results for AMEX

Results for NYSEARCA

YCS

NYSEARCA

ProShares UltraShort Yen

11/30/2010

Swings

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and (force_index(3) <= 0) and (force_index(13) >= 0) and (adx(10) > 30) and (high() < high()[-1]) and (high()[-1] < high()[-2]) and (close() > sma(close,10)) and (close() > sma(close,20))

Results for NASDAQ

Results for NYSE

AAN	NYSE	Aaron's Inc.	11/30/2010
CLR	NYSE	Continental Resources, Inc.	11/30/2010
CRM	NYSE	salesforce.com, inc.	11/30/2010
EL	NYSE	Estee Lauder Companies Inc.	11/30/2010
ETN	NYSE	Eaton Corporation	11/30/2010

Results for AMEX

Results for NYSEARCA

1-2-3-4

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and ((adx(10) + adx(20))/2 > 30) and (pdi(10)+pdi(20) > mdi(10) + mdi(20)) and (low() < low()[-1]) and (low()[-1] < low()[-2]) and (high() < high()[-1]) and (high()[-1] < high()[-2])

Results for NASDAQ

Results for NYSE

AAN	NYSE	Aaron's Inc.	11/30/2010
BEC	NYSE	Beckman Coulter, Inc.	11/30/2010
DDS	NYSE	Dillards Inc.	11/30/2010
EL	NYSE	Estee Lauder Companies Inc.	11/30/2010
ETN	NYSE	Eaton Corporation	11/30/2010

Results for AMEX

Results for NYSEARCA

Cross

Scan Code From www.StockScanPRO.com:
(sma(volume,20)>=500000)and(close() > 12)and(sma(close,5)>sma(close,15))and(close() < sma(close,5))and(close() > sma(close,15))and(high() < high()[-1])and(close() > open())

Results for NASDAQ

Results for NYSE

AAN	NYSE	Aaron's Inc.	11/30/2010
ADI	NYSE	Analog Devices Inc.	11/30/2010
AMB	NYSE	AMB Property Corporation	11/30/2010
AWK	NYSE	American Water Works Company, Inc.	11/30/2010
BCE	NYSE	BCE Inc.	11/30/2010

Results for AMEX

Results for NYSEARCA

IJH	NYSEARCA	iShares S&P MidCap 400 Index Fund	11/30/2010
IJR	NYSEARCA	iShares S&P SmallCap 600 Index Fund	11/30/2010
IWM	NYSEARCA	iShares Russell 2000 Index Fund	11/30/2010
IWO	NYSEARCA	iShares Russell 2000 Growth Index Fund	11/30/2010
IWP	NYSEARCA	iShares Russell MidCap Growth Index Fund	11/30/2010

Triangle

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and (close() > sma(close,20)) and (high()[-2] > high()[-1]) and (high()[-2] > high()) and (low()[-2] < low()[-1]) and (low()[-2] < low()) and (high()[-1] > high()) and (low()[-1] < low())

Results for NASDAQ

Results for NYSE

FPRS

NYSE

Ford Motor Company Capital Trust II

11/30/2010

Results for AMEX

Results for NYSEARCA

Reverse

Scan Code From www.StockScanPRO.com:
(sma(volume,20)>=500000)and(close() > 12)and(high()[-2] > high()[-1])and(high()[-1] > high())and(low()[-2] > low()[-1])and(low()[-1] > low())and(close()[-2] <= open()[-2])and(close()[-1] <= open()[-1])and(close() >= open())and(volume() > 1.5 * sma(volume,20))

Results for NASDAQ

Results for NYSE

SKM

NYSE

SK Telecom Co., Ltd.

11/30/2010

Results for AMEX

Results for NYSEARCA

Breakouts

Scan Code From www.StockScanPRO.com:
(sma(volume,20) > 200000)and(close() > 7)and(high() >= max(high,40))and(high()[-1] >= max(high,40)[-1])and(volume() > 1.5 * sma(volume,20))and(close() > open())and(volume()[-1] < sma(volume,20))and( (close() - low()) >= (0.75 *(high() - low())) )

Results for NASDAQ

Results for NYSE

BFB

NYSE

Brown-Forman Corporation

11/30/2010

Results for AMEX

Results for NYSEARCA

Revival

Scan Code From www.StockScanPRO.com:
(sma(volume,20)>=500000) and (close() > 12) and (close()[-1] - low()[-1] <= 0.1 *(high()[-1] - low()[-1])) and (close() - low() >= 0.95 *(high() - low())) and (close() > sma(close,15)) and (close() > sma(close,50))

Results for NASDAQ

Results for NYSE

PTV

NYSE

Pactiv Corporation

11/29/2010

Results for AMEX

Results for NYSEARCA

Reversals

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 200000) and (close() > 12) and (low() <= min(low,40)[-1]) and (volume() > 2*sma(volume,20)) and (close() > open())

Results for NASDAQ

Results for NYSE

AZN	NYSE	AstraZeneca Group plc	11/30/2010
FTE	NYSE	France Telecom	11/30/2010
RDSA	NYSE	Royal Dutch Shell plc	11/30/2010
SNY	NYSE	sanofi-aventis	11/30/2010
UN	NYSE	Unilever N.V.	11/30/2010

Results for AMEX

Results for NYSEARCA

IDX

NYSEARCA

Market Vectors Indonesia Index ETF

11/30/2010

Short Swings

Cross

Scan Code From www.StockScanPRO.com:
(sma(volume,20)>=500000) and (close() > 12) and (sma(close,5) sma(close,5)) and (close() < sma(close,15)) and (low() > low()[-1]) and (close() < open())

Results for NASDAQ

Results for NYSE

CLI	NYSE	Mack Cali Realty Corporation	11/30/2010
DLR	NYSE	Digital Realty Trust, Inc.	11/30/2010
RIG	NYSE	Transocean Ltd.	11/30/2010

Results for AMEX

Results for NYSEARCA

IEF	NYSEARCA	iShares Lehman 7-10 Year Treasury Bond Fund	11/30/2010
OIL	NYSEARCA	iPath S&P GSCI Crude Oil Total Return Index ETN	11/30/2010
RWM	NYSEARCA	ProShares Short Russell2000	11/30/2010
TWM	NYSEARCA	ProShares UltraShort Russell2000	11/30/2010
TZA	NYSEARCA	Direxion Small Cap Bear 3x Shares	11/30/2010

1-2-3-4

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and ((adx(10) + adx(20))/2 > 30) and (pdi(10) + pdi(20) < mdi(10) + mdi(20)) and (low() > low()[-1]) and (low()[-1] > low()[-2]) and (high() > high()[-1]) and (high()[-1] > high()[-2])

Results for NASDAQ

Results for NYSE

JOE

NYSE

St Joe Co.

11/30/2010

Results for AMEX

Results for NYSEARCA

EPI	NYSEARCA	WisdomTree India Earnings Fund ETF	11/30/2010
TLT	NYSEARCA	iShares Lehman 20+ Year Treasury Bond Fund	11/30/2010

Swings

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and (force_index(3) >= 0) and (force_index(13) <= 0) and (adx(10) > 30) and (low() > low()[-1]) and (low()[-1] > low()[-2]) and (close() < sma(close,10)) and (close() < sma(close,20))

Results for NASDAQ

Results for NYSE

Results for AMEX

Results for NYSEARCA

Window

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 7) and (adx(10) > 30) and (pdi(10) < mdi(10)) and (low() > sma(close,5))

Results for NASDAQ

Results for NYSE

DLR

NYSE

Digital Realty Trust, Inc.

11/30/2010

Results for AMEX

Results for NYSEARCA

Revival

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and (close()[-1] - low()[-1] >= 0.9 *(high()[-1] - low()[-1])) and (close() - low() <= 0.1*(high()-low())) and (close() < sma(close,15)) and (close() < sma(close,50))

Results for NASDAQ

Results for NYSE

AF	NYSE	Astoria Financial Corporation	11/30/2010
BBT	NYSE	BB&T Corporation	11/30/2010
BXS	NYSE	BancorpSouth Inc	11/30/2010
IAG	NYSE	IAMGOLD Corporation	11/30/2010
LAZ	NYSE	Lazard Ltd.	11/30/2010

Results for AMEX

FXE

AMEX

Euro Currency Trust

11/30/2010

Results for NYSEARCA

Reverse

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and (high()[-2] < high()[-1]) and (high()[-1] < high()) and (low()[-2] < low()[-1]) and (low()[-1] < low()) and (close()[-2] >= open()[-2]) and (close()[-1] >= open()[-1]) and (close() <= open()) and (volume() > 1.5*sma(volume,20))

Results for NASDAQ

Results for NYSE

RIG

NYSE

Transocean Ltd.

11/30/2010

Results for AMEX

Results for NYSEARCA

Triangle

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 500000) and (close() > 12) and (close() < sma(close,20)) and (high()[-2] > high()[-1]) and (high()[-2] > high()) and (low()[-2] < low()[-1]) and (low()[-2] < low()) and (high()[-1] > high()) and (low()[-1] < low())

Results for NASDAQ

Results for NYSE

XL

NYSE

Xl Capital Ltd.

11/30/2010

Results for AMEX

Results for NYSEARCA

Breakdowns

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 200000) and (close() > 7) and (low() <= min(low,40)) and (low()[-1] <= min(low,40)[-1]) and (volume() > 2*sma(volume,20)) and (close() < open()) and (volume()[-1] < sma(volume,20)) and (close()-low() <= 0.25*(high()-low()))

Results for NASDAQ

Results for NYSE

SUG

NYSE

Southern Union Co.

11/30/2010

Results for AMEX

Results for NYSEARCA

Reversals

Scan Code From www.StockScanPRO.com:
(sma(volume,20) >= 200000) and (close() > 12) and (high() >= max(high,40)[-1]) and (volume() > 2*sma(volume,20)) and (close() < open())

Results for NASDAQ

Results for NYSE

CXO	NYSE	Concho Resources Inc.	11/30/2010
FDX	NYSE	FedEx Corporation	11/30/2010

Results for AMEX

Results for NYSEARCA