RIO - Bearish Structure. Triple Top

RIO - Weekly Candlesticks: "

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Overview : Bearish Structure

Rio Tinto : Mining Conglomerate : Weekly Chart
. Triple Top
. Price/Stochs Bearish Trend Divergence
. Broken out of Trend Channel
. Prices went below 200Days Weekly MA. Currently just touching it.

Strategy :
Bearish Trade : Long Put

Stock appeared in MarketClub

BHP - Weekly Candlesticks : Resistance $86

BHP - Weekly Candlesticks: "

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Overview :
BHP : Mining Conglomerate : Has formed a Head and Shoulder pattern.
And as if on cue it has broken out of the neckline at $86. Dropped by about
the distance from Head to Neckline to $72. Which actually formed the
termination of mini Wave iii.

Awaiting clearer signal as to whether $86 would be the resistance also
the neckline that was broken. Prices will test neckline before falling.

Strategy :
Await Reversal Signal from hereabout and especially the retest of the neckline.
Punching through the neckline upwards of $86 would negate this Elliot Wave
Count.

Bias is to await for reversal and Short from $86 thereabouts.

Baidu, Inc. (BIDU) : Chart Update

Baidu, Inc. (BIDU)a: "

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BAIDU : BIDU :Update from Previous Post

For traders that was anticipating a break out from the presumably flag formation
on Fridays close would be disappointed as Prices hit resistance at $152.5 and fell
$5.51 or -3.87% intraday.

Conflicting Signal - Wait for fresh signals to trade.
On 60minutes chart prices is below the triple moving averages and also the 200days MA.
A bearish sign, however Stochs on 60minutes chart is oversold.

Resistance at $152.5

AAPL : Wait for Reversal Signal to sell for Wave C or Wave 5 down

Overview :
AAPL : Apple Inc : 2 possible counts here on the 60 minutes chart.
i. Completing of Wave 4. Set up for Wave 5 downside move.

ii. Wave B the corrective rebound is in progress and near terminating., $400 ??
After Which Wave C will pushes Prices down again.

Strategy :
The prefered way is to wait for a reversal signal.
In the first scenario : resistance at $390
2nd scenario resistance at $400

UUP : Short Term Short Play or Long Put

UUP : US$ ETF
Short Term Play.
On a brink of a break down. Sell on break of support line at $21 for a downside target of $19.

Overview.
UUP has been on a slide since June 10. If you have been a Long Bear, you would have done good. Very Good !

But this setup is a short term play. Elliot wave count is Wave 5.
Wave 4 being a complex correction. Fullfilling Elliots rule of alternate reactive wave. Meaning to say, if Wave 2 is simple zig-zag, then Wave 4 is complex a-b-c-d-e, vise versa.

Word of Caution : UUP has been on a long maturing trend, stochastics on monthly chart is way oversold. There might be a possible trend reversal coming up.

SLV - Weekly Candlesticks

SLV - Weekly Candlesticks: "
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Strategy :
i. Option or CFD Straddle at $38 for objective of $42 or $27.
ii. Enter short trade on break of $37

Broad Picture,
Silver has topped out at $48. Capping off a Wave 5 termination of an intermediate degree.
Prices since corrected or dropped down to $32 and rebounded to about $38.

From here on out.
Anticipating Silver to stay with the near term trend channel to maybe $42. FInish off the mini Wave C correction and continue the decline to $27 .

BIDU - Daily Candlesticks

BIDU - Daily Candlesticks: "

BIDU : BAIDU
Chinese Internet Stock

Strategy
i. Straddle here at $150 for objective price of $160 or $135
ii. Enter short trade on break of $149 for $135

Overview
Prices has traced out 4 waves count. Anticipating that prices will dive on Wave 5.
Prices at $150/$151 has just touched the bottom of Wave 1. which is a crucial level for this count to work. If it breaks through on close, count has failed. Mission to be aborted.


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