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Monday, Nov 21, 2011
In Mark Tito’s opinion
Resistance 11,700
Support 11,595
The market remains in very weak condition due to the persistent problems coming out of just about every country in Europe…as sovereign debt is in Europe is taking down each country like dominoes..With the U.S. congressional joint select committee on deficit reduction — or “super committee” as it has become known — needing to agree on cuts of $1.5 trillion within the next 48 hours, can’t make a decision on anything and is about to announce failure..
With so much bearish news, and bearish technicals we will take a short on the break of the key 11,595 support, or on a short covering rally to 11,700….whichever comes first..
Mark Tito
800 591-2393
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
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Morning Dow Commentary
Morning Dow Commentary
Thursday, November 10th.
In Mark Tito’s Opinion
Resistance 11,890(short)
Support 11,700
The stock market got smashed yesterday as the European debt crisis is worsening…This major bearish news event is superseding all the technicals right now..The breakout movement is coming in the middle of the night because that is when the European debt crisis news is being released, as the European banks start opening at midnight eastern time..
We have to take a position to go short, day or night, at the key resistance levels..
The market is up overnight over 100 points from yesterday’s lows…
“There is a sense that most of the activity this morning has been short covering as opposed to real buying,” said Lona Smith, a director at Knight Capital Europe Ltd. in London. “Rallies are likely to be shallow though as events have shifted rapidly in the euro zone, which threatens to pull core member states into the mix.”
We will have to take a stand on the shortside of the market as upside rallies will be met with swift reversals..At this point, the only trades we may take are shortside trades..
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
Morning Dow Commentary
Tuesday, Nov 8th..
In Mark Tito’s opinion.
Resistance 12,100(short)
Support 11,900
Yesterday the market flipped and flopped within the complete boundary’s of our 200 point trading range, as domestic and international intervention has been at very high levels as of late..We were swept into into a long trade near the close of the day, but were stopped out overnight with a 45 point loss on the trade…
Because of all the market intervention indicators are at high levels we are going with a short trade at resistance today(12,100).
The technicals are strongly suggesting that stocks should start a sharp decline this week, according to the highest probability Elliot Wave scenarios, with downside targets right around 11,200..
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
Morning Dow Commentary
Monday, November 7th..
In Mark Tito’s opinion
Resistance 12,000
Support 11,800
Based on chart analysis the market should decline this week, according to the highest probability Elliot Wave scenarios, and according to small Head & Shoulders tops patterns unfolding..Downside taggers appear to be around the 11,200 level..But, the markets are chock full of International and Domestic intervention at this time, be it direct purchases of securities through Wall Street surrogate firms or manipulative news announcements, etc…and in the short-term this can have the effect of creating huge, out of now hare price swings..It is my job to weigh all the evidence that technical analysis provides and come to a conclusion about probabilities…In the past year when intervention has been at an extreme, huge counter move swings have occurred..This is unusual and should not continue to last much longer as large Bearish forces and waves move in to take control. We are in a Bear market.
Mark Tito
fcfutures.com
800 591 2393
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
Morning Dow Commentary
Wednesday, November 2nd, 2011
In Mark Tito’s opinion:
Resistance 11,755
Support 11,570
Stocks fell hard early on yesterday, but made an afternoon rally back up approx 140 points..
Today at 12:30 ET, there is going to be a fed announcement..The main focus for traders from this fed announcement will the language in the statement suggesting the fed is or is not moving closer to QE3…This fed announcement will drive the market today..If the language from the fed announcement suggest we are close to QE3 the market should make a strong rally….if not, we are going lower…
Yesterday the Dow made a triple bottom at the 11,570 level, with each time the market made a huge rally off of that level….that is clear support for this market…
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
Morning Dow Commentary
Tuesday, November 1st..
In Mark Tito’s opinion..
When I turned on my computer this morning the first headline I saw at Bloomberg was “The wheels may be coming off the European plan in just 5 days”….funny how the charts saw this coming…
It looks like the top we have been waiting for is in. The Dow seems to have topped on October 27th right within our fibonacci cluster turn window..Therefore, it appears the next wave down has started..Significant market turns have occurred end of month, beginning of month every month the past year….and here we are again..
It appears that the 11,300ish level may be a target for this correction…but if indeed the European bailout package is falling apart the Dow was a thousand points lower then 11,300 when it started…According to the technicals everything seems to be right on schedule…
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
Morning Dow Commentary
Monday, October 31st..
In Mark Tito’s Opinion:
Resistance12,150
Support 12,050
On Friday, the market traded back and forth within the range..It appears that prices may float a little higher, but a top should arrive within a few days, if it is not already in..
We are at the point where the news that drove the market up has been digested, the Europe bail out news…So if the news sticks we will see the market run higher..If the key support line sitting at the 12,050 level, which was a key resistance level on the way up, is broken, that is the first big sign we are going lower..
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
Morning Dow Commentary
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Friday, October 28th…
In Mark’s Tito’s opinion
Resistance 12,230
Support 12,000
Yesterday, the Dow had a monster rally, the Dow closed up over 300 points..but here is the reality behind yesterday’s move. Most of the buying was short covering. Most of the buying was done by those most pessimistic about the market, panicking, buying stocks to cover open short positions where they agreed to sell stocks they do not have, so had to come into market to buy in fear that prices would go higher from the news that Greece and Europe came to a deal..Most of the buying did not come because of the slew of lackluster economic reports that have been released throughout the week, or positive prospects for the economy..
Many of the key indicators are suggesting that the market could top over the next few trading days…So let’s see where this rational exuberance rally takes us..If we break resistance, we will go long…because the reality of it is, the market is going to do whatever the market is going to do…Just keep in mind, the higher the price action takes us without real bullish economic substance, the more it’s gonna hurt when it corrects….
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
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Morning Dow Commentary
Thursday, October 27, 2011
In Mark Tito’s opinion
***We will have to let the market set a trading range..
The Dow really blasted off during the overnight trading session, up over 200 points..We will have to let the market set up a trading range before key breakout levels will be posted today…
Yesterday was a 2 trend day, as the market dropped approx 175 points after the open, then after the EU news hit the market started to rally off the news..It is good that this EU debt crisis summit has been settled, it sure did create a lot of havoc with sharp reversal price action over the last week…but believe me sooner or later the EU debt crisis will be back in the news…
This news out of Europe is definitely bullish news for the market…So now we will have to let the market digest this delicious feast of news it just consumed, set key levels….and back to business as usual…
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
Morning Dow Commentary
Wednesday, October 26th..
In Mark Tito’s opinion:
Resistance
Support 11,675
On a short-term basis the news from the European Debt Crisis is dominating the market..
Yesterdays stock decline was very powerful, very weak internals, a 90% panic selling day..Full stochastics remain in very overbought conditions, as the decline yesterday was stopped by an upward sloping support line that connects with the bottom of this rally that started on Oct 4th..That support now sits at the 11,680 level….nothing to support the market below that line..A clean break below that support would strongly suggest that the next 4% to 5% decline is underway…We could see a test of 11,800 before the next wave down..
Mark Tito
Risk Disclosure: There is a substantial high level of risk of loss in trading commodity futures, options and off-exchange foreign currency products; such trading is not suitable for all investors. Past performance is not indicative of future results. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of all or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent financial advisor if you have any doubts. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Rakia Securities Inc d/b/a Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
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