Friday lower

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Friday lower, low confidence.
• ES pivot 1364.50.  Holding below is bearish..
• Next week bias lower technically.
• Monthly outlook: bias down.
• ES Fantasy Trader remains short at 1363.50.

Recap

It was a kind of jittery day on the Street today as the Dow was down, then up and finally down again to lose 47 points on a fat spinning top representative of this whole holiday-shortened week.  With mixed economic numbers today, we turn to the charts for some guidance as to how Friday might play out.

The technicals

The Dow: Today's basically aimless wandering was pretty typical of a holiday week low-participation day.  I'm trying hard not to read too much into it.  Still, the lower close coming at a point where the Dow is highly overbought is enough to give one pause.  And the stochastic is just above to execute a bearish crossover.  Finally, we closed just barely outside the rising RTC and that's a bearish setup.  This chart definitely looks like it's got more downside risk than upside potential at this point.

The VIX:  And here's another example of the nervous state of Mr. Market.  On Tuesday the VIX gave us a doji suggesting a possible bullish reversal.  Well today the VIX did gain 5%, but did it with, yes, another doji.  What is unequivocal here is the stochastic which just executed a bullish crossover.  With RSI now oversold and rising momentum, I'd say the VIX is looking ready to move higher on Friday, and that's bad for stocks.  The futures confirm this idea.

Market index futures: Tonight all three futures are in the red with ES down 0.24% at 1:17 AM EDT.  The red candle developing so far in the overnight confirms today's spinning top reversal warning.  Also, all of the indicators except for momentum have now peaked at overbought levels, further sign that the top is in.  And the stochastic finally completed its bearish crossover.

ES daily pivot: Tonight the pivot ticks up from 1364.25 to 1364.50.  With ES continuing its evening-long sag, we just continue to sink further under the pivot - not good.

Dollar index: Today the dollar took a monster gap up, the biggest since January 2009, gaining 1.31% to stop just short of its peak on June 28th and just shy of the upper BB at 57.48.  I was calling for a higher dollar today based on the euro last night but holy moly, what a pop.  Normally, this sort of gap would make you think it's just begging to be retraced, but in the case of the dollar, that doesn't always necessarily happen, at least not right away.

Tonight the euro still has some room to move lower to its support at 1.235 even after its big dump today, so beware.  Like I said last night, lower euro -> higher dollar -> lower stocks.



Transportation: The trans gained another 0.22% today to form a tomahawk.  RSI is an impressively overbought 99.11 (it only goes up to 100) and the stochastic is flattening out to begin a bearish crossover.  And yet, none of that is an actual reversal yet.  With the upper BB at 5294, it's still possible we might see a bit more upside here on Friday, but overall this chart looks like it's getting ready to move lower.  Let me note is passing a bearish evening star in copper too.

Accuracy (daily calls):

Month right  wrong  no call  conditional  batting   Dow
                                          average  points trade

April   7      9      2                    .438
May    10      7      3           2        .632 
June    8      6      6           1        .600     632   +$330
July    2      0      1           0       1.000      56

     And the winner is...

Tonight, technically things seem to be lining up for the bears, and we're also entering the historically weakest part of the year for the Dow so I'm going to call for a lower close Friday.  The only thing that could derail this idea is if all the employment numbers come in significantly BTE.  I've been hearing some buzz that this is what's expected.  I'm not so sure.  So technically, it looks lower, but one always has to keep one eye on the news.

ES Fantasy Trader

Portfolio stats: the account remains at $140,375 after 48 trades (37 wins, 11 losses) starting from $100,000 on 1/1  Tonight, in a case of holding 'em rather than folding 'em, we're holding on to last night's short.  So far, so good.  Or just lucky - you decide.  This (ES daily) chart just looks ready to roll over.  Reminder: you can track these trades live on Twitter @nightowltrader.

CUA (Commonly Used Acronyms)

BB - Bollinger Bands
DCB - Dead Cat Bounce
MA - Moving Average
RTC - Regression Trend Channel
YTD - Year To Date

Disclaimer: (My lawyer made me do it) This blog is not trading or investment advice, account management or direction.  All trades listed here are presented only as examples of the author's personal trading style.  Investing entails significant risk and trading entails even greater risks.  Deal with it.

 

Thursday lower

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Thursday lower, low confidence.
• ES pivot 1364.25.  Holding below is bearish..
• Rest of week bias lower technically.
• Monthly outlook: bias down.
• ES Fantasy Trader going short at 1363.50.

Recap

For a review of Tuesday's charts, see my previous post from Tuesday night.  Tonight we're just taking a guess about where Thursday might go after factoring in the futures..

The technicals

Market index futures: The only chart trading today was the futures and tonight all three are down with ES off by a non-trivial 0.31% at 1:16 AM EDT.  The developing candle just touched the upper BB at 1371.12 before retreating, RSI is now at an extreme overbought level and the stochastic is just about to execute a bearish crossover.  While we still remain in the latest rising RTC, it's looking like we might see lower on Thursday.

ES daily pivot: Tonight the pivot rises from 1356.42 to 1364.25.  With ES stair-stepping its way lower in the fractured holiday session, this now puts us below the pivot.  In addition, ES just failed to break back over in an attempt at 1 AM.  This is bearish on the face of it.

Euro: The dollar's not trading today (at least my $USDUPX chart isn't updating) so we'll look at the euro instead.  After trading down on the fourth, the euro is moving still lower in the overnight.  In fact, the candle is developing as a bearish engulfing pattern and the stochastic just completed a bearish crossover.  Lower euro -> higher dollar -> lower stocks.


     And the winner is...

As I mentioned Sunday night, this whole week is a bit scattered what with the holiday and lots of major players on vacation, but I'm seeing some weakness developing and although I'm not expecting a big move on Thursday, I do think the close will be lower.  Keep in mind too that there's a bunch of economic news coming out and the chatter is that it's not going to be BTE.

ES Fantasy Trader

Portfolio stats: the account remains at $140,375 after 48 trades (37 wins, 11 losses) starting from $100,000 on 1/1  Tonight we go short at 1363.50.  It's more of a risk than I might usually take given the amount of news coming out Thursday and the fact that it's a holiday week, but things seem to be setting up for a pullback here.  Reminder: you can track these trades live on Twitter @nightowltrader.

CUA (Commonly Used Acronyms)

BB - Bollinger Bands
DCB - Dead Cat Bounce
MA - Moving Average
RTC - Regression Trend Channel
YTD - Year To Date

Disclaimer: (My lawyer made me do it) This blog is not trading or investment advice, account management or direction.  All trades listed here are presented only as examples of the author's personal trading style.  Investing entails significant risk and trading entails even greater risks.  Deal with it.

 

Independence Day

 Independence Day 2012

Greetings to all my loyal readers.  I hope you all have a pleasant and safe day off from trading the markets.  I'll have my usual late-night market call tonight after all the fireworks have settled down.


What's so great about America?

If you're ever traveling in some foreign land and people want to know what makes America so great, you can just show them this, the Bill of Rights.  (Although I'll admit that anyone who's been through an airport lately can tell that the Fourth Amendment has been pretty thoroughly trashed - thanks, TSA).


Bill of Rights

Amendment I Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

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Amendment II

A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.

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Amendment III

No Soldier shall, in time of peace be quartered in any house, without the consent of the Owner, nor in time of war, but in a manner to be prescribed by law.

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Amendment IV

The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

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Amendment V

No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.

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Amendment VI

In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defence.

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Amendment VII

In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise re-examined in any Court of the United States, than according to the rules of the common law.

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Amendment VIII

Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.

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Amendment IX

The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.

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Amendment X

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

Tuesday charts, Thursday outlook

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Thursday call  here tomorrow..
• ES pivot 1364.25.  Holding above is bullish..
• Rest of week bias lower technically.
• Monthly outlook: bias down.
• ES Fantasy Trader standing aside.

Recap

Last night I said of today, "We might even manage a small gain".  Well 72 points in the Dow isn't exactly small, but it was definitely a gain.  It's hard to tell how much significance to attach to this though, given that the major players are all on vacation right now.  What's interesting though is that for the third day in a row, buyers came in for a last minute rally to knock 'em higher - did you notice that?  Buying into the close before a holiday??  Hmmm.  Ah well, let's turn out attention to the rest of the week after the Fourth.

The technicals

The Dow: In a sparsely attended abbreviated session, the Dow gained 72 points.  This is more than I would have expected and while I hesitate to read too much into such pre-holiday half-sessions, I think it's noteworthy that the Dow managed to gain this much despite already being fairly overbought.  We'll go way out on a limb tonight to see if any of this means anything for Thursday.

The VIX: Please indulge me some more quotes, for last night I wrote "it's not clear that the VIX is ready to move higher".  And so we dropped another 0.83% today on a small star.  Oddly enough, we're still not close to the lower BB (at 15.61) and the stochastic is still not close to even starting a bullish crossover.  Today's move also broke last month's support.  I'd say here that we have a possibility of a reversal but it requires confirmation Thursday - something I'm not sure we'll get.

Market index futures: The market may have closed early today but the futures plod on into the night.  Tonight all three are just slightly higher with ES up a mere 0.09% at 1:29 AM EDT.  Today's green candle for ES today canceled yesterday's doji and the fact that we're now running up the upper BB suggests that the market may be willing to ignore the extreme overbought condition of the indicators - for now.  RSI is now at 95.65 and that's higher than it was even just before the big drop in May.

ES daily pivot: Tonight, for what it's worth, the pivot rises again from 1356.42 to 1364.25.  With ES meandering through the night, we're still above the new number but not by much.  Still, remaining above it bullish.

Dollar index: Last night I wrote "possible lower dollar Tuesday."  And the greenback obliged with a 0.17% drop on a big bearish engulfing pattern.  Though the indicators are now closer to oversold than overbought, there's nothing her to suggest ay reversal yet so more downside is possible Thursday.

Transportation: The trans today rejected yesterday's doji, advancing another 0.59%, pretty robust given the shortened session if you ask me.  Today's green candle took us higher into overbought territory, though we're sill below the upper BB at 5274 and the stochastic is still several days away from executing a bearish crossover.  So it looks like this chart still has a bit more room to run.

Sentiment: Once again it's time for the latest weekly TickerSense Blogger Sentiment Poll.  We continue to track the poll to see how well it performs.  Here's the updated cumulative list for this year:

Wk.# Week   % Bullish  % Bearish  NightOwl SPX  Accuracy

  1  1/3        46         21        +     1258   1/1

  2  1/9        56         37        +     1278   2/2

  3  1/17       41         33        +     1289   3/3

  4  1/23       46         32        +     1315   4/4

  5  1/30       48         31        +     1316   5/5

  6  2/6        56         30        +     1345   6/6

  7  2/13       48         31        +     1343   7/7

  8  2/21       44         32        +     1361   8/8

  9  2/27       48         24        +     1366   9/9

 10  3/5        43         26        +     1370  10/10

 11  3/12       46         32        +     1371  11/11

 12  3/19       46         29        +     1404  11/12

 13  3/26       39         29        +     1397  11/13

 14  4/2        42         21        +     1408  11/14

 15  4/9        25         46        -     1398  12/15

 16  4/16       26         48        -     1370  13/16
 17  4/23       30         48        -     1379  14/17

 18  4/30       44         32        +     1403  14/18

 19  5/7        23         50        -     1350  15/19

 20  5/14       32         44        -     1353  16/20

 21  5/21       30         52        -     1295  16/21

 22  5/29       35         42        -     1318  16/22

 23  6/4        32         48        -     1278  16/23

 24  6/11       28         40        -     1326

 25  6/18       39         26        -     1343  

 26  6/25       38         46        -     1335

 27  7/2        41         40        -     1362

Again, the SPX number is the closing price of the S&P on the Friday before each new poll comes out.  The "NightOwl" column is how I voted.  Since the poll is for 30 days out, after the first four weeks we're able to see how well we did.  This week we see that my bearish call on 6/4 was wrong (again), the S&P now being higher than then.  I'm using the column "Accuracy" to track my calls.  So now I'm 16 for 23 .  And of course that means that since I voted with the majority back then, the poll as a whole was also wrong that week.  So with half the year gone now the poll's accuracy drops to 70% YTD.

This week we see that with a slight gain in bullish sentiment and a drop in bearish sentiment, we're essentially in a tie.  I believe this reflects all the contradictory numbers, indecision, and market instability we saw last month.  For the record, I voted bearish once again   I'm still watching the SPX monthyl stochastic, and it doesn't look to be ready to set up a bullish crossover until the end of August if it continues on its present two year cycle.  Looking closely though, I do detect a slight flattening of the %K line.  It is possible, I suppose, that it may just make a bullish crossover from a high level rather than dropping all the way down near zero the way it normally does.  This sort of cycle short-circuiting does happen on occasion and would be quite bullish indeed.

Accuracy (daily calls):

Month right  wrong  no call  conditional  batting   Dow
                                          average  points trade

April   7      9      2                    .438
May    10      7      3           2        .632 
June    8      6      6           1        .600     632   +$330
July    1      0      1           0       1.000       9

     And the winner is...

Well since there's no market on the Fourth, there's no call tonight.  I want to see how the futures run and what news and rumors may cross the ticker before Thursday.  But I did at least want to run down the charts tonight.  Tune in again Wednesday night for the exciting conclusion.

I will say though that while we might still eke out one or two more days of gains, it's looking to me like we're getting a bit overextended here and may be in for another down day, perhaps next Monday.

ES Fantasy Trader

Portfolio stats: the account remains at $140,375 after 48 trades (37 wins, 11 losses) starting from $100,000 on 1/1  Tonight we stand aside again ahead of the holiday.  Reminder: you can track these trades live on Twitter @nightowltrader.

CUA (Commonly Used Acronyms)

BB - Bollinger Bands
DCB - Dead Cat Bounce
MA - Moving Average
RTC - Regression Trend Channel
YTD - Year To Date

Disclaimer: (My lawyer made me do it) This blog is not trading or investment advice, account management or direction.  All trades listed here are presented only as examples of the author's personal trading style.  Investing entails significant risk and trading entails even greater risks.  Deal with it.

 

Tuesday uncertain

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Tuesday uncertain - no point calling a meaningless half-session.
• ES pivot 1356.42  Breaking under is bearish.
• Rest of week bias lower technically.
• Monthly outlook: bias down.
• ES Fantasy Trader standing aside.

Recap

Last night my call was for "a small down day" and darned if that isn't exactly what we got, with the Dow down a measly 9 points.  Tonight I'll run down the charts more with an eye toward the end of the week than the stub session on Tuesday.  And keep in mind that one shouldn't attach too much significance to today's action because of the upcoming holiday.

The technicals

The Dow: After Friday's big run-up we got a small doji today on low volume as the indicators continue to rise to overbought levels.  This is at least a reversal warning for the rest of the week but one that does reqwuire confirmation.  While I suspect Tuesdya's action will be largely meaningless, it should nonetheless be interesting to see in which direction the bias lies.

The VIX:  Last night I was expecting a bit more downside here and the VIX obliged by dropping another 1.64%.  I'm not quite sure what to make of the pattern though.  It's ordinarily a bearish engulfing pattern but that should come at the end of an uptrend, and we just had a big gap down.  May not mean much in this context.  The futures are becoming oversold but may not be ready to turn around yet, so it's not clear that the VIX is ready to move higher either.

Market index futures: The indecision continues in the futures as YM is unchanged and both ES and NQ are up a bit at 1:41 AM EDT.  After a gain earlier in the evening, ES is now up only 0.06% and trending lower.  The candle is developing as a doji, mirroring the spinning top we got today.

ES daily pivot: tonight the pivot rises from 1344.00 to 1356.42.  ES is now dangerously close to the new line and trending lower since 12:25 AM - a break under would be bearish.

Dollar index: After yesterday's big gap down, today the dollar took a small gap up for a star.  The chart is pretty indecisive but the indicators continue to move lower, suggesting a possible lower dollar Tuesday.

Transportation: The trans continue to copy the Dow with a doji today, but they're not as overbought as the Dow yet and we're still 50 points from the upper BB.  So while the doji may warn of a reversal, there's also still a bit of room to run higher.  Right now this chart's not looking too bearish.

Accuracy (daily calls):

Month right  wrong  no call  conditional  batting   Dow
                                          average  points trade

April   7      9      2                    .438
May    10      7      3           2        .632 
June    8      6      6           1        .600     632   +$330
July    1      0      0           0       1.000       9

     And the winner is...

Tonight, the markets have the feel of a college campus the day before Thanksgiving.  The halls are mostly silent and only a few die-hard grad students are to be found still hanging around.  With all the dojis and stars running around the charts tonight and an abbreviated session on Tuesday that will obviously be sparsely attended, there's no point in making an official call tonight.  I'll simply note that the market in general appears ready to attempt a retracement of Friday's big gains.  I doubt it will happen Tuesday though.  We might even manage a small gain - I don't know.  Me, I'll be out stocking up on hot dogs and hamburgers for the grill and laying in a supply of cold beer in anticipation of some relaxation on Wednesday.

ES Fantasy Trader

Portfolio stats: the account remains at $140,375 after 48 trades (37 wins, 11 losses) starting from $100,000 on 1/1  Tonight we stand aside once again in anticipation of a nothing day on Tuesday.  Reminder: you can track these trades live on Twitter @nightowltrader.

CUA (Commonly Used Acronyms)

BB - Bollinger Bands
DCB - Dead Cat Bounce
MA - Moving Average
RTC - Regression Trend Channel
YTD - Year To Date

Disclaimer: (My lawyer made me do it) This blog is not trading or investment advice, account management or direction.  All trades listed here are presented only as examples of the author's personal trading style.  Investing entails significant risk and trading entails even greater risks.  Deal with it.

Monday maybe lower

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Monday lower, low confidence.
• ES pivot 1344.00.  Holding above is bullish.
• Rest of week bias uncertain technically.
• Monthly outlook: bias down.
• ES Fantasy Trader standing aside.

Recap

Wow - what a way to end the day, the week, the month, the quarter, and the first half all rolled into one.  The bulls bellowed and snorted their way to a 228 point romp for the Dow and sent everyone off for the weekend in a good mood.  With a holiday-shortened week ahead, things might get interesting.  Maybe there's a clue in the charts so let's take a look.

The technicals

The Dow: Friday's king-size 2.2% pop was important in several ways.  First, it was the pay-off for the bullish trigger we got last Thursday as the Dow exited its last descending RTC.  Second, the close at 12,880 totally retraced that entire decline and even cracked the resistance formed by the June highs.  Third, the move was on the highest volume in five sessions, and much more than the last two times the Dow lost ground.  And finally the bullish stochastic crossover is now complete and the indicators are beginning their move up from oversold.  All of these developements are positive.  And the next resistance isn't until 12,967, the upper BB, so there's still some room to run.

The VIX:  Market up, VIX down.  No surprise there.  But what's interesting is that unlike the Dow and ES which formed tall green Marubozus, the VIX produced a tall inverted hammer on Friday.  I'm thinking this may be a bad data point in eSignal, which shows a sudden spike in a single bar at 4 PM to 19.71, while the adjacent bars were i the low 17's.  Editing that out gives us a smaller gap-down inverted hammer.  Either way, the air literally rushed out of the VIX like a popped balloon on Friday at the open as its stochastic completed a bearish crossover.

Though the inverted hammer suggests a possible reversal, that would require confirmation, and the futures don't support that idea.  The last time we saw a VIX gap-down of this magnitude was last November 29th, and the next day the VIX continued a bit lower.  With a close at 17.08, we note that the lower BB is at 15.98 and we know how the VIX loves to play tag with the lower BB before reversing.  I think there's sill a bit of downside left in thes chart and that would be good for stocks.

Market index futures: Tonight all three futures are running lower at 1:15 AM EDT with ES down 0.18%.  The pattern of the decline is interesting.  After actually opening slightly higher and then continuing from there, ost of the fall happenedjust before 8 PM.  I think this may have been on the Chinese June PMI numbers.  But after quickly giving up six points, ES stabilized and has been essentially flat since 8:30 PM.  While it's discouraging to see the futures in the red, I'm not certain this particular movement is indicative of a lower close Monday.

On the daily chart, we note that ES handily cleared its June resistance of 1350, now becoming support.  And Friday's close of 1356 still leaves a bit of wiggle room as the next resistance is the upper BB at 1363.  But with the indicators just now entering overbought territory, I think any further gains from here may be limited, particularly in view of Friday's massive advance.

ES daily pivot: Tonight the pivot jumps from 1319.00 to 1344.00 even.  We're still a good 10 points above the new level even with the decline in ES so far, but we'll want to watch this.  While ES appears to have found support around 1353, a continued move lower would be worrisome.


Dollar index: Like the VIX, on Friday the dollar took a massive dump, shedding 1.51%  to just tocuh its lower BB before recovering slightly and making a small hammer, suggesting a possible reversal.  However, the indicators are all still just now coming off overbought and that suggests more downside.  Friday's plunge also took the dollar out of its latest rising RTC for a big bearish setup.  On the other hand, in the overnight, the euro is running lower, as might be expected following its huge gains on Friday.  So lower euro -> higher dollar -> lower stocks.

Transportation: The daily trans chart looked a lot like the Dow only more so.  Where the Dow gained 2.2%, the trans were up 2.84% on Friday.  Here we have the same bullish RTC exit and the same indicators all clearly having bottomed now.  If anything, the indicators are still closer to the bottom than in the Dow, indicating more room to run.  Resistance here is at 5265 which is both the upper BB and the June highs.



Accuracy (daily calls):

Month right  wrong  no call  conditional  batting   Dow

                                          average  points trade
April   7      9      2                    .438
May    10      7      3           2        .632 
June    8      6      6           1        .600     632   +$330
July    0      0      0           0

Note: Beginning this month, I will no longer be updating the "trade" column.  The results there are directly correlated to the Dow points column so there is no value-added and it's just more work for me to keep track of and post those numbers.  One can assume that if you were to trade the DIA/DOG pair based on my daily calls, you'd make money as long as my "Dow points" column is positive.


     And the winner is...

Holiday weeks are always dicey to call.  And the fact that the holiday this week falls smack in the middle makes it doubly difficult.  And the shorted trading day on Tuesday doesn't help either.  I'm sure the byg wygs are already boarding their yachts for the Hamptons or their Hawkers to jet up to Maine for a quick vacation.  This always leaves the markets prone to odd gyrations.  Modulo that, tonight we have some vaguely positive chart action tempered by futures moving lower.  That's not really at odds with the typical thing following really big one-day moves up which is a small down day, so that's what I'm calling for Monday.

ES Fantasy Trader

Portfolio stats: the account begins the second half of the year at $140,375 after 48 trades (37 wins, 11 losses) starting from $100,000 on 1/1  Tonight we stand asidesince I don't really see a  decent edge worth playing.  Reminder: you can track these trades live on Twitter @nightowltrader.

CUA (Commonly Used Acronyms)

BB - Bollinger Bands
DCB - Dead Cat Bounce
MA - Moving Average
RTC - Regression Trend Channel
YTD - Year To Date

Disclaimer: (My lawyer made me do it) This blog is not trading or investment advice, account management or direction.  All trades listed here are presented only as examples of the author's personal trading style.  Investing entails significant risk and trading entails even greater risks.  Deal with it.