Welcome to Pit's Weekly
If you are looking for technical analysis of major commodity and stock markets, you have come to the right place. As by the name of this site the perspective is that of the medium term trader rather than that of investors or day traders, making it ideal for professional people who don't have time to watch the markets morning to evening.

We aim to show you how by thoroughly preparing your trading strategy ahead of the trading week you will create your preferred scenario, your backup scenario and probably most important of all an idea for when you are wrong in your analysis and need to bail out of or reverse a position.

You will also learn (through practical examples) about stops, money management and how we position in a market once we believe to have identified an opportunity.

A special service is the access to the signals of our proprietary Top/Bottom-Finder (TBF), a high probability technical indicator to help us find tops and bottoms in all the markets that we observe.

Finally you will get access to the signals of our Crashbuster system, a mechanical trading system in the weekly time frame based on the German DAX that has delivered excellent results in riding the major trends.

Disclaimer
This is an educational site. The material is intended to help people understand the complexities of Trading including Positioning, Money Management, Stops and psychological aspects of Trading. In no way is
any of the material designed or appropriate to be used as specific trading advice. Trading involves a lot of risk, especially Futures trading can lead to bancrupcy fast.

S&P 500
Comment
I believe this market has gotten way ahead of itself. We are back to where we were 2003-2007 where ALL that counts is liquidity. Sell the dollar, buy everything else including ridiculous, overpriced, underearning stocks. Since the international taxpayer had the kindness of absorbing all of the US's housing screw-up it is all happy days again now.

Short term I think a correction is due and I believe last week was the beginning of that.

Targets are 978, then 945 and 928.
German Dax
Another irrelevant DAX chart.

Targets are 5250 and 5050.
Comment
Comment
Now this is the interesting one, since it is the Dollar upside down. Currency trends tend to be quite stable, so once you have a trend, probabilites favour a continuation of the trend. That is where I am betting my money, Short the Dollar. I am wrong if the Euro breaks the trendline and stays under it for a week. In that case we are in for a Dollar ralley, in which case the stock Shorts should more than compensate for any losses in the Euro.

Gold
Comment
This is a critical time in Gold. It absolutely HAS to break the 1000+ resistance now and settle in on top of 1050 on a pullback, or lose all credibility. Manipulation or not that is the most irrelevant discussion in the financial world. If international demand is not strong enough to overwhelm a few crooks then the metal does not deserve its place as a safe haven, if you define safe haven as in safe from the governmental thiefs.

Will it? Well. Maybe it must travel back to the moving average first and wait there for a catalyst to create a straight line up above current resistance on the next self-made catastrophe.
Wheat
Comment
Nothing going on in this market at all. Too late for the short side here, no longs until a break of the moving average in conjunction with some momentum. Out.
Crashbuster
Comment

Crashbuster is long.


The-Big-Pic V.2
Comment
The BigPic stays  Short.

End of Site
w/c 2009/09/28
Top
 
Top
Top
Top
Top
Top
Top
pitsweekly.com
Technical Analysis for profitableTrading
EUR/USD