The Mars Market Update — Live Research

Closed short from 1.3060 + 124 pipsConcerned about USD turning down against the Yen and down against the GBP impulsively. I am a believer in corolated markets and there are too many warning signs that the US$ may be turning down now. If in doubt, GET OUT!Timing is everything... GBP/USD after I posted the decline had potentially ended GBP/USD 30m

Taking partial profits here - Covered half ES shorts @ 1604 (Short from 1616.50 + 12.5 pts); Covered half EUR/USD shorts @ 1.2972 (Short from 1.3060 + 88 pips). Will let rest run with SL's below BENeed to stick to my trading rule of "always take profits"There is an argument to suggest that the decline in GBP/USD and EUR/USD and rise in DXI is at an end for now. The recent lows / highs (US$) can be interpreted for most crosses as ending thrusts from triangles rather than nested declines (red...

I'm off for vacation for 2 weeks tomorrow, so I'll keep this update short.Equities started strongly but faded away during the afternoon, rejected by the 50 day sma once again. I managed to get short ESU3 at 1616.50 (SL @ 1621) and the ES declined in 5 waves to complete (c) down with new highs to come or a nested 1 / 2 decline. I'm moving my SL to break-even and I'll let this ride over the weekend. The EUR/USD short played out nicely yesterday and I've moved my SL down to yesterday's intraday...

How I'm counting the ES and reason for my short position... ESU3 15m

With today's clean 5 wave decline from 1.3078, I am lowering my SL to 1.3060 (break-even). Needs a break below 129.85 to gain downside momentum. No risk now, letting it ride... EUR/USD 60m

Equity markets followed my playbook higher yesterday when ES bounced from measured supported in the 1593 - 95 range as posted yesterday. The structure of this "rally" remains unconvincing to me. As per last week, the overnight markets are driving the US equity markets higher while the large players (day session) are unable to hold those overnight gains. While the levitation continues higher I am getting more bearish. The SPX was unable to close its open gap and was turned down into the close...

Short EUR/USD against prior swing high. Speculative trade. Not trading advice. EUR/USD 60m

Equity markets did enough last week to keep both Bulls & Bears hopes alive. The SPX staged a nice three day counter-trend rally from the 1560 lows only to be turned back by the 50 day sma and 0.618 fibonacci retracement of the prior decline at 1620. This is exactly where one would expect a wave 2 counter-trend rally to find strong resistance if you were a Bear. The structure of the advance is far less clear. Some indices (NDX/Nasdaq Comp, Russell 2000 and BKX) appear to show complete or...

Minimum expectation met of a marginal new low. Taking profits here. 1.5660 - 1.5190 (470 bps) GBP/USD 30m

What has struck me about this equities rally has been the ability for the overnight traders to push the markets higher through resistance while the day session consolidates and digests those gains. This means the 24 hour ES Futures market has a much clearer structure than the cash markets at this point in time (which is rare). The short term trend continues higher. When the charts are unclear, I tend to look for other potential trade opportunities in other FX or commodities markets rather than...