Welcome to this week’s video update. Trader Rick starts with the eurostoxx 50 weekly chart….remember September is the front month now….see if this last week’s close had any significance. First level of support on the weekly chart is in the 2275 area. On the Canada weekly, continue watching for the possibility of a dragon pattern. Be sure to note where the back of the dragon is on this chart.
Next up is the weekly gold chart. Trader Rick shows two possible patterns to look for in the weeks ahead as the anticipation of gold breaking thru the $1000 level mounts. In the crude market we are now trading the August contract. This past week put in an inside candle indicating hesitation but price continues to trade OKC, or outside the keltner channel.
Next chart is the daily bond continuation chart. Take a look at two slingshot examples.
Trader Rick updates the weekly euro chart then discusses the weekly Dow chart. In the Dow weekly we are watching the possibility of hidden divergence which has bearish implications.
Wrapping up with the weekly ES continuation chart, see if this chart has hidden divergence. Do you use market profile in your trading? Trader Rick takes a look at the 30 min ES chart and notes the significance of the value area. Knowing where we open in relation to the value area can give you an edge in your trading.
Good trading!
[flashvideo width=550 height=413 filename=http://videoupdates09.s3.amazonaws.com/videonewsl062109/videonewsl062109.flv /]
Leave A Reply (No comments So Far)
No comments yet