SIbeiho writes: The Blue Line is showing obvious support and there is a fairly gd chance the VIX is gonna move up to cover that gap at the orange line.

Gold might make a slight move up towards that resistance during the Asian trading hours and move downwards thereafter. This is in line with the retracement for the Nikkei and the USDJPY which is extremely oversold right now.

These are the points whereby I longed the USDJPY. If the retracement does pan out the way I foresee, I will be taking profit near the close of the Nikkei or before a decent resistance of 14500 at around 14200. The downtrend should continue towards the US market opening with the S&P 500 moving downwards.

My trade plan would be obviously to pile up the shorts on the S&P 500 at this point. The odds seems overwhelming for a move down at the moment. I normally look at the intermarket relationships and determine the odds for a trade.

These are the previous positions I have taken with the S&P 500 shorts. On my blog you can tell from the time the charts were put up that all these weren’t based on hindsight. The profits from these shorts are gonna be reinvested for the next positions that I am going to use for reshorting the S&P500 again.

You could visit my blog at http://sibeiho.wordpress.com/ and you will find the realtime trades and charts before it happens. I dun have a crystal ball neither am I saying I am the market oracle…but I am taking positions based on the odds of events that is happening right now. Given the dynamics and movements of the different asset classes currently, one thing for sure this US market is heading towards its bear market sooner rather than later. That is a discussion for another day.

The blog is an experiment of initial funds of $3000. If you do have time do visit the blog and see how far this sum of money can be stretched.

© 2013 Copyright SIbeiho- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.