Monday higher

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

• Monday higher, low confidence..
• ES pivot 1874.58.  Holding above is bullish.
• Rest of week bias uncertain technically.
• Monthly outlook: bias lower.
• ES Fantasy Trader standing aside.

Recap

Friday was a wild ride on the Street as we finally got the payoff I'd been expecting after two days of major reversal hammers.  Let's quickly move on to Monday because the Night Owl's computer is very sick with some bad RAM and it's crashing at unpredictable intervals (this would happen on a weekend).  So I have to type quick until I can get some new memory for the old beast on Monday.

The technicals

Canceled due to HW issues.

Accuracy:

Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    5      10      6           0       0.333     64
February   5       2      2           1       0.750    107
March     12       3      6           0       0.800    431
April      9       3      5           0       0.750    482
May        6       7      6           0       0.462    -67
June       8      10      3           2       0.500    132 
July       6       4      4           3       0.692    639
August     8       7      2           2       0.588     81 
September  6       6      5           2       0.571    376  
October    4       5      2           1       0.500    274

     And the winner is...

I hope the machine stays up long enough for me to say that I'm calling Monday higher.  Hopefully tomorrow we'll have some new RAM in here and be back to normal.

ES Fantasy Trader

Portfolio stats:  the account remains at $121,625 after nine trades in 2014, starting with $100,000.  We are now 7 for 9 total, 5 for 5 long, 2 for 3 short, and one push.  Tonight we stand aside - I am by policy boycotting the market until the VIX goes back below 20.