“MAYDAY” MAY and “JUBILANT” JUNE:
A mere two and a half weeks ago I wrote an article entitled “Mayday: Mayday: Mayday” in which I described the wild market ride from May 4 through May 7 that saw the markets explode on the downside. After that wild ride the markets rebounded the following week only to sell off again before ending [...]
S&P 500 – February 28, 2010
The S&P 500 is trading just below the 1,110 [1104.49] area, which marks a 61.8% Fibonacci retracement of the Jan.19, 2010 high and the Feb. 5, 2010 low. There are many pundits who would suggest this indicates a continuation of the market rally from the recent lows and an eventual retest of the January highs [...]
S&P 500: What is a Reasonable Retracement?
The dramatic market sell-off from September of 2008 through March of 2009 is still fresh in the minds of many traders. There is a certain level of fear that we could return to the complete debacle we lived through then.
Markets are like pendulums. The bigger they swing one way, the bigger they swing back. [...]
Update: S&P 500: February 8, 2010
There is need for concern regarding the SPX’s breach of its 80-day moving average [RED line] and the subsequent unsuccessful attempt to rally back above this trendline early last week. Also, there is ample evidence that we are seeing a souring mood among investors.
For example:
1. The American Association of Individual Investors weekly survey showed [...]
Market Correction or Beginning of BEAR?
Since January 19, the markets have displayed noticeable weakness. Is this a market correction or advance warning of a looming BEAR?
Signs of distress:
•Price action is poor. The Dow Jones industrial average has suffered triple-digit losses in four of the past eight trading sessions.
•Selling greets good news. Stocks have been unable to shoot higher on better [...]
S&P Entering Week of February 1
The S&P 500 Index (SPX) has experienced a couple of disturbing technical failures the past two weeks. First, after a few attempts to overcome its important 160-month moving average, the SPX failed to break through. The 160 month moving average is situated in the 1,150 area and acted as support at the [...]
S & P 500 – Chart Update
I have attached a 12 year monthly chart of the S&P 500 Index that, from a technical perspective, shows a long-term resistance level that could stifle any current short-term rally attempts. Being a short term trader I rarely review charts that go back this far but believe this chart could be of significant value.
The blue [...]
