$GC_F daily volume profile chart and outlook

The fibs and the volume profile are lining up nicely at the moment. The pit session really shows how 1750 is the main pivot right now. There are major gaps to the upside and downside that also coincide well with low volume areas. If we get past 1754, 1787 could be next, followed by 1812 and the primary magnet above at 1825 or so. Below, 1700 is the obvious next battleground, followed by gaps below there at 1636 and 1613. I’ll be watching for a breakout in the currently declining volume to signal a major change in the story.

Annie Duke : Awesome Interview on Poker (Trading)

$$ $STUDY Weekly Homework: Where Do You Get the Biggest Bang For Your Buck?

Over the weekend I like to make sure I’m up-to-date on all the important market developments but I don’t like to get too bogged down in the ridiculous amount of information out there.  Spending some time with a few websites can give me all the basic information I’m looking for.

While I love the idea of a well-chosen “Informational Diet”, I’m sure there are some great resources out there that I am missing.  I hope some of you can suggest some other places that you think deliver a lot of bang for the buck in terms of weekly homework.

Here’s my list:

Weekly Wrap – @alphatrends kicks off my weekend with a look back at the price action of the previous week and a look ahead toward the possibilities for the week to come.  Brian always helps me to put the week in perspective and to clear my head so I can begin to look at the next week with fresh eyes.

http://www.stocktwits.tv/alphatrends-weekly-wrap-with-brian-shannon-082010/

FinViz Futures Charts – there is no better place to observe the weekly, daily, 60 minute and 5 minute price action all in one spot.  Sometimes I really like to look at price alone with no indicators to get the broadest view from the hill.

http://finviz.com/futures_charts.ashx?t=ALL&p=w1

Forex Factory Calendar – this is one of many good places to get the upcoming week’s economic announcements.

http://www.forexfactory.com/calendar.php

Econoday – In addition to their weekly calendar, I find their “International Perspective”  and “Simply Economics” sections to be a good way to stay up-to-date with the latest economic indicators and trends both around the world and in the U.S.

http://mam.econoday.com/byweek.asp?cust=mam

http://mam.econoday.com/reports/rc/2010/Resource_Center/Archives/IP-Archive/08-23-10/index.html?cust=mam&year=2010

http://mam.econoday.com/reports/rc/2010/Resource_Center/Archives/SE-Archive/08-23-10/index.html?cust=mam&year=2010

StockTwits Brunch – @StevenPlace does a great job discussing the latest charts.  I really like his systematic approach to looking at the markets.  I have incorporated many aspects of his process of assessing market structure, volatility, risk tolerance, sector performance and specific market technical analysis into my weekly analysis.  There is a lot to learn by watching Steven every weekend.

http://www.stocktwits.tv/stocktwits-brunch-with-steven-place/

Decision Point – this site costs $20 per month, but they provide excellent charts and analysis.  Their focus is perfect for my weekly homework.  It’s totally worth the $20 to be able to sit back and click through their well-done charts.  I enjoy thinking of them as my paid analysts.

http://www.decisionpoint.com/

Chart.ly – This site is great for getting an idea what others are thinking, but I really have to be careful to not dive in too deep!

http://chart.ly/

MacroTwits – I strive to get all my homework done by 9pm on Sunday night so that I can kick back for a fascinating look at the big picture with @GregorMacDonald.  He always brings an interesting conversation,

http://www.stocktwits.tv/macrotwits-hour-with-gregor-macdonald/

So please tell me what I’m missing here.  I’d really like to hear about what you look at each week to keep yourself informed without becoming overwhelmed with too much information.

Thanks!

@GratefulTrader

$$ ES_F weekly Market Profile chart – market has been balanced $macro

The weekly Market Profile chart shows some interesting patterns.

Despite the recent volatility, we’ve actually been quite balanced around the 1084 level for 3 weeks.

Weekly-Naked VPOC-wise, the next interesting levels are 1156 to the upside and 998 to the downside.

$CL_F – testing bottom of 12 month channel – volume profile $macro $$

crude oil is trying to bounce off the bottom of the 12 month channel…

$EURUSD $EC_F EURO volume profile $macro

going back to the June 2009 highs…

$ES_F $GC_F 2-24-10

Yesterdays action left us with a classic long liquidation “b” profile on the Market Profile chart.  Today we could see exploration back up into and possibly through yesterday’s range, or we could see further selling, or both.   The 1087.50 naked VPOC is an obvious magnet to the downside.

$GC_F

Stalking a good short entry in gold.  Now that the key 1100 level has been breached, I’m looking for a strong move to the downside.  Will be watching for a pop up to the 1111 area for an ideal entry.  1107 and 1099 are also possible entry levels.  First target is 1080.

2-23-10 am outlook : $ES_F GC_F $JY_F

The markets are hovering around many key pivot levels waiting for an indication of which way we head next.  The Consumer Confidence # could be a tipping point today, but I suspect GDP on Friday will have greater impact.  I will be focusing on very short term plays until a clear direction emmerges.

$ES_F

A bounce up into the 1125 area is still a good possibility.  A naked VPOC at 1113.50 is an obvious magnet as well as a significant LVN at 11124-11125.

To the downside, there is major support in the 1094-1097 range.  If we can get through that area, 1090 and 1085 are the next likely support levels.

If we see another choppy day, 1103.75 to 1111.50 is the most obvious range.

$GC_F

Gold apears to be rolling over.  Looking to short gold in the 1120-1122 range.  Target 1100.

$JY_F

Shorting the Yen at current levels mentioned yesterday,  1.1040. Trendline resistance since 2/4/10 is providing a good backstop.

am outlook: $ES_F $GC_F $JY_F

It appears that we are in for another interesting week in the markets.

$ES_F

We closed last week at the 61.8% retracement of the move down from 2-19 so at least a short-term pullback is possible.  In addition, there was relatively little volume in the 1075-1095 area on the way up last week, so the market may need to spend some more time filling in that range.

To the upside, 1125-26 could provide significant resistance.  My expectation is that we see an attempt to auction higher but that attempt will lose steam and we will rotate lower to at least test the 1100 level and possibly 1080.

$GC_F

I’m looking for a bounce in gold in the 1113-1116 area up into the 1135-1140 range.  I’m stalking a good swing entry on the short side in this zone.  From there, a test of 1100 seems possible.

$JY_F

The Yen could be poised for a nice drop from the 1.10 area.  Will watch the Dollar and equities for confirmation.

AM Outlook: $ES_F $GC_F $EURUSD

It appears that we will be opening with a gap down into the 1067-1070 area.  I expect another volatile day with the continued uncertainty surrounding the debt situation.  I will be ready for strong movement either direction depending on how the news effects the markets.

The 1050 and 1056 levels are possible to the downside.  On the upside, the gap-fill 1096.50 is the most obvious magnet.  Barring a strong move to either extreme, I expect action to remain in the 1060-1075 range.

Gold continues to consolidate in the 1,075-1,100 range.  I’m looking for a move above 1,100 and expecting it to fizzle somewhere below 1,111 for a potential swing short entry.

The Euro will likely be the currency in play again today.  The range between 1.3550 and 1.3750 should remain intact.  I am anticipating a close around 1.3650.