Video Update: 27 July

Welcome to the video update for Monday, July 27th.  Trader Rick starts with the weekly eurostoxx 50 chart to review what has happened in the last two weeks since price was in the buy zone.  Since the buy trigger two weeks ago, price has rallied over 235 basis points.  A slingshot and a conservative MACD first cross setup are both playing out as alerted two weeks ago.  Look at the daily eurostoxx 50 chart…clear evidence of the current strong momentum to the upside!

The weekly Canada chart also shows what has happened since price was in the buy zone two weeks ago.  First target to the upside has been reached.  Keep an eye on the dragon pattern as it continues to develop.   Daily Canada chart shows the momentum to the upside currently.

Trader Rick points out what to look for as July comes to a close this Friday in crude.  Price is in the sell zone.  But the weekly crude chart has a different story going on.  Usually the smaller timeframes play out first before the larger timeframes kick in.  On the daily crude, price has broken thru previous resistance, which was previous support.  If your are confused, check out the chart!

The monthly euro chart shows price in the sell zone.  Watch the monthly close this coming Friday to see if a sell signal is triggered.  The trend on the daily euro is still up.

Trader Rick shows what has happened since the weekly bonds moved in to the sell zone 3 weeks ago.  Slingshot is in play too.

In the NQ, the dragon pattern continues to develop on the weekly.  Targets to the upside are given.

Trader Rick wraps up with the S&P cash monthly chart and the ES weekly/daily charts.  The 1.27 fib extension is just overhead current price.

Trader Rick answers a frequent question he receives in emails.  Be sure to listen to his answer if he scalps the intraday charts.

Good trading!

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