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By admin, on June 29th, 2010%
The S&P dropped like a rock today and closed at 1041 above the low set in October 2009. There is a head and shoulders top forming and 1040 is the neckline. This level was penetrated right before the close today but managed to climb back above this level.
If you look at the chart there is nothing . . . → Read More: S&P closes right at support of 1040 but headed down
By admin, on June 22nd, 2010%
After the COT came out last Friday showing that the Euro had one of it’s greatest short coverings in a week in the history of the contract it made one final stab up yesterday morning. Then S&P unloaded downgrades on some of the Spanish banks and that was all she wrote. The Euro went from an . . . → Read More: Euro backs off at 50 day moving average
By admin, on June 20th, 2010%
This week should about tell the tale of where we are headed. The S&P 500 was up $25.91 last week for two up weeks in a row. That is the good news. Now the support at 1040 has held for the last two weeks, but we still have overhead resistance at the 50 day MA of . . . → Read More: Where is the S&P going?
By admin, on June 12th, 2010%
The S&P 500 finished the week up over last week. It appears to be a short covering rally until sentiment can become more bullish. There simply aren’t any sellers out there right now. Given the drop in May prices need to at least stabilize before they head back down.
We should go test resistance of the 50 . . . → Read More: Market view for the week
By admin, on June 9th, 2010%
It appears the recent sell off in the market was a little to fast and is poised for a bounce. The S&P 500 has held support at 1050 and could see a 10% bounce back up to the 50 day moving average. This would form what appears to be the right shoulder of a . . . → Read More: S&P oversold and due for a rebound
By admin, on May 19th, 2010%
Don’t look now, but the S&P is rolling over as well as the other indexes. As you can see from the chart below, the S&P dropped below the 50 day MA last week and bounced off of the 200 day moving average and is testing it again. If we close below the 200 day MA there . . . → Read More: S&P is rolling over
By Don, on November 18th, 2009%
Well no one likes to be wrong, but it looks like I was when I called for a double top last week. The S&P 500 broke thru the 1100 level to close at 1109 and then held the 1100 level yesterday. This should give us another leg up until we run into resistance at about 1150 . . . → Read More: S&P 500 Breaks out
By admin, on November 9th, 2009%
Anyone who has money invested 401-K please re-balance your portfolio now. Please, for your peace of mind, remember where you were at 1 year ago. Take some profits and have some cash ready, because I believe that we are getting ready to top out.
Oh sure everyone is on board with the rally, but seriously is anyone . . . → Read More: Take some profits please
By Don, on October 21st, 2009%
Don’t look now friends but the market staged a late day reversal in the face of very good earnings reports today. As evidenced in the article by Midnight Trader the market turned from up all day to a large drop in the last hour.
If you look at the chart, the S&P 500 is still in an . . . → Read More: Late day Market Reversal
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