Emini FuturesCast / The Daily Pod 07/25/11
July 25, 2011 at 6:14 PM (QQQQ)(DIA)(SPY)(GLD)(SLV)
Today was MONDAY! Verified. The good news is, despite dealing with the debt ceiling, the markets showed up for work on time and put in a full day. Did you? Or did the Monkey keep you too busy? We do encourage you to comment here on the blog regarding your Monkey or whatever else is on your mind. It's called community. We are a Community of Believers Who Trade For A Living. Do your part please. Give back, get involved, make a difference! We're only as strong as our weakest link...
White Candle Alert
Yes we did sound the alert last night just like we did on 2 other occasions last week. Here's how it played out -
The White Candle (potential change of trend) closed at 1335. The next candle opened at 1334.75. Over the next 3 hours the markets did a slow grind higher presenting a maximum profit potential of 5.5 points or $275.00 per contract. The market reversed from a Weekly Trading Zone (high of the day) and on Globex tonight we've already had a change of trend warning and a substantial drop.
Not everyone is comfortable trading an hourly chart. However, it does create a very nice backdrop for smaller time frame entries. We can teach you how to trade it but you have to bring your own patience.
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