bear trap?

I am not bullish on this market, however we must keep in mind that this could be a bear trap.....

here are a few bullish set-ups to watch

Pairs trade to play the currency market

Yesterday I showed a chart of the Euro/Yen.....

Today I am going to put on a pair trade to play this currency pair....

I am entering a long positions in FXY with a stop at $102.50 and a short position in FXE with a stop at $142.50


good trading!!

Short MAR.....stop $22.52

Short IYR.....stop at $33.50

I am going to short IYR with a stop at $33.50........aggressive players can buy SRS (ultrashort real estate)


The market is currently breaking down as expected...........if it moves lower than 890 the H&S pattern will become a reality and 800 should follow in short order. A look at the advances/decliners shows that there is ample room for more downside.

Real Estate recovering?

This is IYR, a chart of the real estate index............looks like a screaming sell to me, overbought, kissing the 200 day MA, and forming the right shoulder of a textbook H&S pattern...

Euro/Yen

This is just a secondary indicator I like to use to confirm stock market movements. It is a measure of risk. If it is rising the currency markets believe the economy to be healthy. Right now it is looking rather toppy and could be setting up for a fall......bad for the stock market

Market very toppy.....

Market is looking very toppy, I'm looking to add a few short positions before the close today.....stops should be tightened up on any open longs