Actionable ideas for the busy trader delivered daily right up front
- Tuesday uncertain.
- ES pivot 1675.50. Holding above is bullish.
- Rest of week bias higher technically.
- Monthly outlook: bias higher.
- ES Fantasy Trader remains long at 1695.00.
And so the Ringling Bros. Obamum and Boehnly circus rolls on. There's no shortage of elephants and donkeys, but mostly clowns. Lots and lots of clowns. Ha ha. See them point giant oversized clown fingers at each other. Ha ha. See them trip over their big baggy egos. Ha ha. What would we do for amusement were it not for the 500 odd idiots in Washington who we sent there in the misguided belief that they could accomplish anything productive.
Why do I even bother doing the technicals? Obviously the clowns are in control. And so, in protest, tonight I refuse to look at the charts. All you need to know about the market will come from the Senate floor. Or the House floor. Or the cutting room floor. Who know, who cares. A pox on both their houses. Foo.
The technicals (daily)
The Dow: xxx
The VIX: xxx
Market index futures: xxx
ES daily pivot: Tonight the pivot drops from 1687.33 to 1675.50. xxx
Dollar index: xxx.
Accuracy (daily calls):
Month right wrong no call conditional batting Dow
January 5 7 6 3 0.533 -101
February 3 4 5 6 0.692 131
March 5 7 5 2 0.500 121
April 7 5 5 3 0.667 328
May 3 4 6 4 0.636 85
June 6 5 6 0 0.545 543
July 10 2 4 4 0.875 486
August 11 3 6 2 0.813 687
September 8 3 3 3 0.800 485
And the winner is...
No one. The charts are all bollixed up from the shenanigans going on in Washington. At the moment the futures are actually running higher but who knows. One thing I've learned about doing technical analysis is when to pack it in and tonight is one of those nights. I think I'll just take some time off until this latest piece of stupidity blows over. So it's Tuesday uncertain for me.
ES Fantasy Trader
Portfolio stats: the account remains at $110,000 after 16 trades (12 for 16 total, 6 for 6 longs, 6 for 10 short) starting from $100,000 on 1/1/13. Tonight we remain at 1695.00.