Gold and Index Day Trading Signals and Video

By: Chris Vermeulen | Fri, Apr 9, 2010
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It's been a relatively slow day in the market as Fridays usually are. I am most likely sounding like a broken record about gold and the indexes but I will show you again just to make sure that everyone's on the same page for the upcoming correction.

In short, major indexes and metals are way overbought and ready for a pullback which will most likely be sharp. I feel a 3-5% correction is just around the corner. Both the broad market and precious metals are about to have their cycles turn align and top out. Meaning a wave of selling is likely to hit the market.

Adding more fuel to the selling is the fact that earning season is about to start and I do not think it matters what the news for the market will sell into it. Everyone thinks stocks are doing well which is why we have seen the strong rally the past 2 months. This is the typical buy on rumor sell on news which we saw last January on the good earning numbers. But if the news is bad, then I figure people will sell that news also.

Daily Gold Cycles Trading Chart

Day Trading ES Mini Futures Video

Here is a short video showing members of my new service FuturesTradingSignals.com what I feel the market will be doing for the day and over the next few days as I show live ES Mini Futures Charts.

View Video: http://www.thegoldandoilguy.com/articles/day-trading-es-mini-futures-video/

Unfortunately we did not catch the recent rally. The market was giving off a very mixed signal at the time of the reversal and I wanted to wait for a pullback after the breakout which has yet to happen. I do think its just around the corner though.

It is important to realize that trading is not about catching every move the market flashing in front of us which will make us consistently profitable in the long term. Instead it's the trader who knows what they are looking for (trade setups & risk levels) and have the discipline to follow a technically proven strategy and system which will build wealth over time. There will always be another opportunity just around the corner.

If you are interested in receiving my Day Trading & Swing Signals while becoming a part of a close community of like minded traders please check out my service: www.FuturesTradingSignals.com

 


 

Chris Vermeulen

Author: Chris Vermeulen

Chris Vermeulen
President of AlgoTrades Systems
www.TheGoldAndOilGuy.com

10126 Hwy 126 East, RR#2
Collingwood, ON, L9Y 3Z1

Chris Vermeulen

Chris Vermeulen, founder of AlgoTrades Systems., is an internationally recognized market technical analyst and trader. Involved in the markets since 1997.

Chris' mission is to help his clients boost their investment performance while reducing market exposure and portfolio volatility.

Chris is also the founder of TheGoldAndOilGuy.com, a financial education and investment newsletter service. Chris is responsible for market research and trade alerts for of its newsletter publication.

Through years of research, trading and helping thousands of individual investors around the world. He designed an automated algorithmic trading system for the S&P 500 index which solves his client's biggest problem related to investing in the stock market: the ability to profit in both a rising and falling market.

AlgoTrades' automated trading systems allows individuals to investing using either exchange traded funds or the ES mini futures contracts. It is supported by many leading brokerage firms including:

- Interactive Brokers
- Trade MONSTER
- MB Trading
- OEC OpenECry
- The Fox Group
- Dorman Trading
- Vision Financial

He is the author of the popular book "Technical Trading Mastery - 7 Steps To Win With Logic." He has also been featured on the cover of AmalgaTrader Magazine, Futures Magazine, Gold-Eagle, Safe Haven,The Street, Kitco, Financial Sense, Dick Davis Investment Digest and dozens of other financial websites. His list of personal and professional relationships approaches 25,000, people with whom he connects and shares is market insight with out of his passion for trading.

Chris is a graduate of Seneca College where he specialized in business operations management.

Chris enjoys boating, kiteboarding, mountain biking, fishing and has his ultralight pilots license. He resides in the Toronto area with his wife Kristen and two children.

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TRUE MONEY SUPPLY

Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/