Fri May 25 Memorial Weekend

We reserve a special day of honor this Monday for all our fallen war heroes,who have made the ultimate sacrifice on the alter of liberty. We salute them all, and say Freedom First! There is no peace without it. Semper Fidelis
20120525
Short 1 TF 766.2, +1.3
Short 1 TF 767.1, +1.2
Short 2 TF 764.3, 764.3, -0.5, -0.5
Short 2 TF 764.0, 764.0, +0.4, +1.5
Short 1 TF 763.9, -0.2
Short 1 TF 764.1, +0.8
Short 1 TF 765.9, +1.0
Short 1 YM 12511, +25
Total YM +25
Total TF +5.0

Thurs May 24 Trade Summary

20120524
Long 2 NQ 2529.5, 2527.0, +1.0, +3.5
Short 1 NQ 2537.5, +1.0
Short 1 TF 763.5, -0.5
Short 1 TF 765.4, -0.6
Short 2 TF 765.7, 765.6, -0.1, +0.8
Short 2 TF 765.9, 765.6, +1.5, +0.5
Long 1 TF 763.2, -0.3
Long 1 TF 763.2, +1.7
Total NQ +5.5
Total TF +3.3

Wed May 23 Trade Summary

20120523
Long 2 YM 12386, 12386, +12, -0
Long 1 TF 751.4, -0.2
Short 2 TF 750.9, 750.9, -0.4, -0.4
Long 1 TF 751.3, -0.6
Short 2 TF 750.6, 750.6, +0.4, +0.6
Total YM +12
Total TF -0.6

Tues May 22 Trade Summary

20120522
Short 2 TF 763.6, 763.7, +0.8, -0.2
Long 2 TF 764.3, 764.3, +0.4, +1.3
Short 1 TF 766.8, -0.5
Long 2 TF 767.2, 767.2, +0.4, -0.4
Short 1 ES 1322.25, -1.25
Short 2 YM 12529, 12528, -3, -4
Short 2 TF 769.3, 769.0, +1.0, +1.6
Total ES -1.25
Total YM -7
Total TF +4.4

Mon May 21 Trade Summary

20120521
Short 2 TF 746.3, 746.3, +0.4, +1.2
Short 1 NQ 2494.0, -2.0
Short 1 TF 752.6, -0
Short 2 NQ 2500.25, 2500.25, +2.25, +3.0
Short 1 ES 1305.75, -0
Short 1 TF 756.4, -0.1
Short 1 TF 756.1, -0.1
Short 1 TF 756.4, -0.5
Short 2 TF 757.3, 752.2, -0.5, -0.6
Short 1 TF 758.1, +2.8
Total NQ +3.25
Total TF +2.6

Fri May 18 Trade Summary

20120518
Long 1 TF 751.7.0, +1.1
Long 2 TF 752.9, 752.0, -1.2, -0.3
Long 2 TF 751.9, 751.8, +0.8, -0.4
Short 2 TF 751.5, 751.4, +0.4, -0.4
Long 2 TF 751.6, 751.7, +0.9, +1.4
Short 1 TF 767.3, +1.0
Total TF +3.3

Thurs May 17 Trade Summary

20120517
Long 2 TF 765.7, 766.0, -0.3, +0.6
Long 2 TF 765.4, 765.7, -0.7, +0.6
Long 1 TF 763.0, -0.1
Long 1 TF 763.5, +1.7
Long 1 TF 766.5, +1.1
Total TF +2.9

Wed May 16 Trade Summary

20120516
Long 2 TF 777.0, 777.1, +1.2, +2.0
Long 2 TF 779.3, 779.1, +1.7, +0.8
Total TF +5.7
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Tues May 15 Breakdown Failure

Sometimes as clear as a breakout signal can be for the continuance of trend, a breakout failure can be for a reversal back into the trading range. Last night the TF futures finished below the neckline of what looks like an ominous H&S pattern in the daily frame. Only somebody forgot to tell price what it was supposed to do at the opening. At important junctures of expectation, a simple rule can often set the trader back in sync with the current trend. If price doesn't trigger at the significant juncture, it will still probably go the expected distance.... but in the opposite direction to what is generally expected. Shake loose of your trend prejudice. Accept the outcome. Trade the outcome.
Trade Summary
20120515
Long 2 TF 776.9, 776.1, +0.1, +1.0
Short 1 TF 778.8, -0.1
Long 2 TF 779.3, 779.3, +0.4, -0.4
Long 1 TF 778.3, +2.0
Short 1 TF 780.7, -0.4
Long 1 TF 781.1, +0.1
Short 1 TF 782.3, +1.3
Total TF +4.0

Mon May 14 Head & Shoulders

Our focus in the free chat room each day is the the lower time frame action, but that doesn't mean we don't take the pulse of the larger frames. Today at the close, TF futures finished below the neckline of a rather ominous H&S pattern in the daily frame. And although H&S patterns are notorious for failure, despite what you read in textbooks, any short term trader should be aware of the building momentum such a pattern, if successful, can bear on the trend of the lower frames.
Trade Summary
20120514
Short 2 TF 780.7, 780.9, -0.3, +1.0
Long 1 TF 778.0, -0.0
Short 2 TF 777.3, 777.3, -0.4, -0.4
Long 2 TF 777.7, 777.8, -0.6, -0.7
Long 2 TF 777.1, 777.0, -0.4, -0.5
Long 2 YM 12631, 12631, +12, +30
Long 3 TF 775.3, 775.3, 775.3, +1.0, +1.0, +2.0
Short 1 TF 778.4, -0.4
Total YM +42
Total TF +1.3

Fri, May 11 Trade Summary

Trade Summary
20120511
Short 2 TF 789.4, 789.6, +0.6, -0.6
Short 1 TF 789.8, +1.3
Long 1 TF 787.8, -0.0
Long 1 TF 787.8, +2.0
Short 1 TF 793.3, -0.0
Short 1 TF 793.1, -0.7
Long 2 TF 790.3, 790.2, +0.6, -0.6
Total TF +2.6

Thurs May 10 Russell Sandwich

Today was a good example of the lack of the usual Russell leadership.
At one point the YM was giving a sell signal near the early high of the day
shortly after the opening, while the NQ was flashing a buy signal near its
low. The Russell, our main focus, was sandwiched in between, and for
that we end up with a chop lettuce in our mouth, but not so much meat.
In the end, we caught a few good turns, but it was not easy work.
Trade Summary
20120510
Long 2 TF 792.3, 792.3, +0.4, -0.5
Long 2 TF 790.7, 790.4, -0.7, -0.3
Short 2 TF 790.0, 790.0, +0.4, -0.4
Long 2 TF 790.9, +0.4, +1.0
Short 1 TF 793.3, -0.4
Short 2 TF 793.3, 793.2, +1.2, +1.0
Long 2 TF 791.5, 791.7, -0.3, -0.5
Long 2 TF 791.3, +1.3, +1.0
Long 1 TF 791.0, +0.9
Long 1 TF 789.5, -0.6
Long 3 TF 788.5, 788.5, 788.5, +0.5, -0.4, -0.6
Long 2 TF 788.4, 788.0, +1.5, +0.7
Long 2 TF 787.7, 787.2, +0.2, -0.3
Long 1 TF 785.8, +0.7
Long 1 TF 786.0, 785.8, -0.4, +1.0
Long 1 TF 785.7 +1.5
Total TF +8.3

Wed May 9 Trade Summary

Trade Summary
20120509
Short 1 TF 782.7, -0
Short 2 TF 780.1, 780.1, +0.3, -0.5
Long 2 TF 784.6, 784.6, +0.4, -0.4
Long 3 TF 780.4, 779.6, 779.5, -0.0, -0.6, -0.5
Short 2 TF 779.1, 779.1. -0.4, -0.4
Long 1 TF 780.3, -0.7
Long 1 TF 779.8, -0.7
Total TF -3.5

Tues May 8

Trade Summary
20120508
Short 2 TF 788.9, +1.0, +1.8
Long 1 TF 785.0, -0.5
Long 1 TF 784.8, -0.4
Long 1 TF 784.7, -0.0
Long 1 TF 78.3, -0.2
Long 1 TF 780.4, -0.0
Long 1 TF 780.8, -0.4
Long 2 TF 879.3, 878.8, +0.5, +3.0
Total TF +4.8

Mon May 7 Russell Laggard

Lately, we seen the Russell lose its leadership role among the 4 index
futures contracts we follow. When it is the leader, and it diverges
against new lows in the other contacts like the mini Dow and E-mini NQ,
it usually means a turn is at hand, and added to the other technical
tools we trade with, can be a strong supporting indicator. However,
when it's not leading, and in fact is lagging in the short term action
of these intraday swings, more stop-outs occur and the TF reluctantly
overcomes its divergence and joins the prevailing trend. All this is
reflected in the bars of the daily frame currently, that clearly put the
trend in a consolidation / build pattern. Eventually, this pattern
should be resolved, and TF should again lead the market.
Trade Summary
20120507
Short 2 NQ 2636.25, 2635.50, +3.0, -0
Long 1 NQ 2630.5, +6.0
Total NQ +9.0

Fri May 4 Trade Summary

Trade Summary
20120504
Short 2 YM 13085, 13085, +5, +20
Long 1 TF 794.6, -0.5
Short 1 TF 793.7, -0
Long 2 NQ 2660.0, -0, -3.0
Long 2 TF 793.1, 793.0, +0.7, -0.7
Long 1 TF 791.9, -0.7
Long 3 TF 791.3, 791.3, 791.0, -0.4, +0.8, +2.2
Total YM +25
Total TF +1.5

Thurs May 3

Trade Summary
20120503
Short 3 TF 813.2, 813.3, 814.2, -0.2, -0.2, +1.6
Long 1 TF 810.3, -0.2
Long 1 TF 809.2, +1.1
Short 1 TF 810.4, -0.7
Long 2 TF 812.2, 812.3, +0.5, -0.6
Total TF Total TF +1.3

Wed May 2

Trade Summary
20120502
Long 2 TF 808.8, 808.8, +0.5, +1.0
Long 1 TF 807.5, 807.3, -0.9 -0.7
Short 1 TF 806.6, -0.3
Long 2 TF 807.9, +0.4, +1.3
Long 1 TF 806.2 806.2, +0.5, -0.3
Short 2 TF 805.9, +0.4, +0.7
Long 1 TF 805.3, +2.0
Long 2 TF 809.1, 809.0, -0.5, -0.6
Long 1 TF 809.1, +0.7
Long 1 TF 809.9, -0.2
Total TF +4.0

tues May 1 Trade Summary

Trade Summary
20120501
Short 2 TF 813.6, 813.6, +0.4, -0.4
Short 2 YM 13201, 13201, -7, -7
Short 2 TF 824.2, 824.7, -1.0, -0.2
Long 2 TF 825.1 825.1, +0.4, +1.0
Short 1 TF 826.9, -0.1
Short 1 TF 827.2, +1.0
Total YM -14
Total TF +1.1

Mon Apr 30 Trade Summary

20120430
Long 2 TF 817.3, 817.2, -1.0, -0.7
Long 2 TF 816.2, 816.2, -0.5, -0.5
Long 2 TF 815.3, 815.5, +1.3, +1.0
Long 1 TF 817.0, -0.8
Long 4 TF 815.5, 815.5, 815.7, 816.5, -0.2, +1.4, +1.2, +0.5
Long 1 TF 815.3, +1.0
Total TF +2.5