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We looked at the E-Mini S&Ps, Gold and Wheat futures on a day when big opportunities appeared scarce. Even so, there were a couple of good "camouflage" opportunities that would have allowed nearly riskless speculative entries with-the-trend.

This session looked at the Mini-Dow and S&P, June Gold, Natural Gas futures and Coffee. We found something immediately tradable in each.

Fed ‘news’ sent gold into spasms, but there was no confusion for us even though we had two possible targets to bottom-fish: Symmetry settled the issue. In the E-Mini S&P, we considered some lows made less tradable because they coincided with prior lows. The one-minute chart didn’t give us enough information to squeeze off camouflage trade, so we dropped down to the tick chart, where the action is more frenetic but almost always rewarding. Finally, we discussed some ways to find entry spots where we would not be plagued by competition.

We looked first at a chart of AngloGold, and although our initial thought was to buy the stock at a ‘D’ pullback target, we held back because AU looked liked it had more correcting to do. Contemplating another chart, we discovered that the E-Mini S&P had impulsed overnight within a 10-day uptrend that was easily visible on the hourly chart. A morning shakedown made us eager to buy a nascent C-D leg. Our options were twofold: buy at the swing low of the countertrend; or wait for a camouflage opportunity on the first ABC pattern of the bounce.

We spent some time making usable sense of the E-Mini S&P’s vacillations in a strongly bullish trend. Is there a way to avoid false triggers? Indeed there is, provided you have the patience and diligence to find the warning signs on the lesser charts. On request, we also scrutinized charts of Kraft and UNG, finding relatively riskless ways to buy the latter even though it had been falling hard. We also considered the possibility that, over the next 3-4 years, global liquidity will dry up, making it increasingly difficult or even impossible to trade.