Jump to navigation

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
Follow Futures          
       
more >>

We Asked Traders

We asked traders for their opinion on the launch of bitcoin futures

Sponsored Content

Trading

Equities.com launches unlimited trading via Tradier Brokerage, Transforming into a news & fintech portal

Featured Topics

more Commodities>>

Commodities

Energy demand steps back in play
Advertisement
more Volatility>>

Volatility

Volatility & opportunity in the energy sector
more Financials>>

Financials

Daily Price Action: E-mini S&P 500
more Options>>

Options

Trading Vertical Option Spreads

Political stage set for trading opportunity

Fibonacci Forecaster Weekend Review & Preview

By Jeff Greenblatt

December 30, 2012 • Reprints

From times of peril arise great leaders. There is a unique opportunity for one person to be a hero and he will be remembered by the people for doing the right thing. The person who does what is right for the country will be remembered more than all the others combined. Such is the reward for putting country before personal agenda right now.

Do you think it’s going to happen? For one politician, the opportunity of a lifetime awaits in the next 24 hours. Do any of them have the courage to do the right thing? That’s what is at stake here.

The Santa rally ended with Christmas as my concerns for January came early as the post-Christmas period saw a quantum spike in the VIX. It’s about time! My take has been some deal would get done but even if it did, the market would find some excuse to sell. This opinion is based on the iron law that markets can’t sustain when the VIX is around 15. Now we actually have the possibility of a buying opportunity sometime in January if the VIX continues to spike.

I don’t have a crystal ball but I think something will get worked out even if it’s a temporary fix. Why? This is what we’ve come to expect from our government. In the last week we’ve gone on an incredible roller coaster as one day bears are covering based on the fact the House got called into session and the next day they come right back and sell it on the unfortunate rhetoric of gamesmanship.

If I wasn’t following the hockey negotiations so closely I might be shocked but I’ve come to expect posturing as the theme of the day. Recently, the NHL said that the 5 year contract length demand refused by the players would be ‘the hill the NHL would die on.’ As of the Thursday night, the NHL offered the players a 6th year. So much for drop dead threats. So it is that the fiscal cliff negotiations have had more drama, gamesmanship and drop dead threats than any of us will ever know. Yet as I write this, legislators still fill cigar smoke filled back rooms trying to hammer out a deal and not ruin New Year’s Eve for the multitudes. What surprises and saddens me is how the media has followed these negotiations, taking the bait at every turn.

This has been the light volume vacation week where the few get to bully the charts and that’s exactly what happened. With all the information out there, with all of the charts I’m going to look at one to guide me and take it in the near term. The SPX has pulled back from the declining upper channel and should test the lower rising channel in what could be an intermediate level triangle which has been in force since we topped in September and October. I’ll look as far as the next trend line which represents about 1370. The NDX is sitting near 2600 and the low back in November is about 2500. We could very easily get these lower tests this week. At the same time if fear does accelerate on Monday we could easily get the VIX to where it needs to be by the end of the week. My concern for January is happening now.

Next page: The good news...

Page 1 of 2
>>next >

About the Author

Jeff Greenblatt is the author of Breakthrough Strategies For Predicting Any Market, editor of the Fibonacci Forecaster, director of Lucas Wave International, LLC. and a private trader for the past eight years.

Lucas Wave International (https://www.lucaswaveinternational.com) provides forecasts of financial markets via the Fibonacci Forecaster and other reports. The company provides coaching/seminars to teach traders around the world about this cutting edge methodology.

Related Articles
Equities.com launches unlimited trading via Tradier Brokerage, Transforming into a news & fintech portal
Test driving carz
Treasuries reverse in front of auction
High-frequency trading fees need transparency
6 mistakes to avoid when investing in ETFs
Previous
Stock market's rally since November not feeling any warmer
Next
Most U.S. stocks rise amid budget talks while Treasuries retreat
Related Terms
Congress 1894technical analysis 1328stock market 386Index 281Fibonacci 265Sentiment 118iron law 10

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
images