Two nice short opportunities...

Gasoline futures could drop well on daily chart over the next week.
S&P500 futures could drop well on the 15 min chart  on Monday.

I like what I have been seeing

updated my May 21 post by changing the color of the font, not sure why it was invisible....i always type in black font..hmm...
anyways....

really like the trades I am finding on the hourly chart.  For the past couple of weeks I would have a couple big gainers and a few small losers, -12.5 pts for losses but +77.5 for gains. 

trade took off without me

trading on the hourly chart for S&P500 futures I would have gained 1.25 points, the trade took off pretty well without me, oh well


(not sure which day I originally posted this, will try to find out)

This made me laugh....

Between 2009 and 2012, Apple legally avoided U.S. taxes on at least $74 billion through a web of offshore subsidiaries more complex than financial experts said they have ever seen before, according to a report by congressional investigators. Some of the offshore entities had no employees and were run directly from Apple's headquarters in Cupertino, Calif. "Apple successfully sought the holy grail of tax avoidance," said Sen. Carl Levin. "It has created offshore entities holding tens of billions of dollars while claiming to be tax resident nowhere."


-from the CFA Institute

k done with research for now.  decided to watch S&P500 emini futures only and use its 4 hour chart to find s/r and trade on its hourly chart.  this way I can focus on only one instrument, which makes it much easier for me, and there should be at least a couple trades per week for me to get into, which is good for learning.  looking back over the past 20 days I would have lost on a few and gained on a few but the gains would have been huge compared to the losses, great sign to motivate me.  I wont look back for trades on the hourly chart to add to my running list of recorded trades, instead I will just start recording trades as of Monday.

current hourly resistance for me is 1558 and current hourly support for me is 1533.

NDXT happened to end in a loss for me.  I was stopped out at 1533.30, took an 11 point loss for that trade.  But with the amazing power of hindsight I see how it was a determined but messy/volatile rise up to the resistance I found.  My resistance worked and the wonderful people in this market did sell and push the price down like I expected but it was so volatile on its way down that I got stopped out before the plunge.  the nasdaq tech sector is messy, too messy for me right now.  maybe I should keep an eye on volatility prior to entry.  NDXT did have quick/ strong/upward rallies but the consolidation in between them had deep pullbacks.  about to review more charts now.