What a week! What a month! What a quarter! Weekend Video Update

Major market trends prevailed through out the third quarter, as market after market succumbed to our Trade Triangle signals. For most market’s, the tone was a negative for the month and quarter. One shining star, was the dollar index, which was one of the very few markets that trended higher during this time frame.

As we start the final quarter of 2011, we still have that pesky little contagion problem in Europe that has never really gone away. How much that has to weigh on the markets remains to be seen.

I believe that Q4 is going to offer some exceptional trading opportunities, but these opportunities will only be available to those traders who do their homework. Before we get into looking at the markets, I wanted to share this personal note with you, here it is. On the cover of my workbook, where I write down all my various game plans for the markets I trade, it says this.

“Some people dream of success while others wake up and work hard at it”. It sums up as to how I look at the markets. No successful trader I know, wings it, they all work hard and do their homework, and work hard at staying successful.

Let's look at our Trade Triangles and Trend Analysis for the U.S. Dollar......

Change for the week: +0.62%

Monthly Trade Triangles for Long Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short Term Trends = Positive
Combined Strength of Trend Score = + 100

The December Dollar was higher overnight and poised to extend the rally off August's low. Stochastics and the RSI are overbought, diverging but are turning neutral hinting that sideways to higher prices are possible near term.

If December renews the rally off August's low, the 75% retracement level of this year's decline crossing at 80.29 is the next upside target. Closes below the 20 day moving average crossing at 77.67 are needed to confirm that a short term top has been posted.

First resistance is Monday's high crossing at 79.65. Second resistance is the 75% retracement level of this year's decline crossing at 80.29. First support is the 20 day moving average crossing at 77.67. Second support is the reaction low crossing at 76.58.

Here's our week ending video with details on the 6 markets we cover

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