A New Approach

//A New Approach

Hawk’s Scan Sentry Report November 12

This week I would like to introduce a little different approach to “Hawk’s Scan Sentry Report”. Instead of scanning a universe of equities for trade setup opportunities, as this report has been doing for the past several years, I would like to follow a few specific markets every week to note how the technical analysis of those markets develop. In that way we familiarize ourselves intimately with just a few symbols rather than looking at something new every week.  Don’t worry, some things will not change. Many of you faithful readers know that I follow the S&P emini futures contract regularly in this blog, and I will continue to do so. I may also occasionally refer to some of the other stock indexes when looking at more than one index seems particularly relevant. In this new format I will still try and note one or two particular equities each week and explicate the technical analysis of those as I see fit.

However, in addition to the S&P futures contract and a well known stock or two I will also follow the Crude Oil and Gold contracts (CL and GC) and provide my analysis of those. There are a lot of traders (including myself) who like to trade these contracts.    I also plan to include some forex analysis each week.  Although I ‘day-trade’ most of these instruments, the emphasis in these weekly postings will be on the general trend orientation and trade setups as they show themselves early in the week.  Since these seem to be the most popular markets that people like to trade, I hope that with these changes this blog becomes more relevant to more readers . Please let me know your thoughts and feedback on this new format as I endeavor to make these postings more useful to you.

On the charts below I will explicate the technical analysis using some of the most highly regarded technical indicators available. These are used by both institutional and private traders across the globe and they are built into many of today’s most popular trading platforms. However, if you are not familiar with these indicators please follow this link to a legend describing these tools. And now I present……

The Charts and Analysis


(The Triple Trender, Radar3 Trend Strength , and Radar1 Fear/Greed are all bearish. As noted last week, I expect 1360-1365  to serve as a support level. Since Radar2 Price Leader is oversold I wouldn’t be surprised to see a pullback into the Triple Trender early this week. ) 


(A bullish  Pullback 23 at support after a pullback into the Triple Trender. Radar1 Fear/Greed and Radar2 Price Leader have both formed a bullish ‘Pullback Divergence’.)


(The Triple Trender has synchronized bearishly and made its first pullback into the short and medium term Trenders. The Radar3 Trend Strength index indicates a pullback in the down trend as well. We could potentially be setting up for a bearish Pullback23 in the next few days.  Although Radar1 Fear/Greed indicates we are seeing more selling than buying it has recently created a bullish ‘Pullback Divergence’. Radar2 Price Leader recently showed a short term bullish ‘Pivot Divergence’ as well. )


(The bears have control of this market as indicated by the Triple Trender, the Radar3 Trend Strength Index, and the Radar1 Fear/Greed indicator. We are currently resting at a long term support level which could hold, but we have a BearFlag target at $81.04. The next support level is $79.22 )


( After weak buying pressure near the October highs indicated by Radar1 Fear/Greed, we see the price at resistance and the Triple Trender bearish, and Radar2 Price Leader oversold. I am looking for a buy this week for a pullback into the Triple Trender. I’ll be watching the Radar3 Trend Strength indicator for insights into which direction the longer term trend will develop.  )

May the trend be with you,


Jan Arps’ Traders’ Toolbox is not an investment advisory service nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. Examples presented on this site are for educational purposes only.  It should not be assumed that the methods, techniques, or indicators presented in these examples will be profitable or that they will not result in losses. There is a high degree of risk in trading.  Readers using this information are solely responsible for their actions and trade at their own risk. Readers should always check with their licensed financial advisor .

2018-01-08T07:33:26+00:00November 11th, 2012|Hawk's Picks|