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Comment on ODDS SHIFT TOWARD A FIFTH WAVE RALLY by SPY stalls near January high | STOCK MARKET FOR BEGINNER | Stock & Option Guide

Wed, 10 Mar 2010 19:39:41 +0000

[...] After moving sharply higher in early trading, stocks turned lower in the afternoon and finished mixe… All major indices finished fractionally higher, but the sectors were mixed with three up, five down and one unchanged. With the afternoon selloff, shooting stars formed in the S&P 400 MidCap ETF (MDY) and Dow SPDR (DIA). SPY formed a white candlestick with a modest upper shadow (intraday high). Resistance from the January high is within spitting distance and the 5-week trend is up. The blue dotted lines define the last three swings. I am raising short-term support to 112. Notice that red dotted line shows where support from the upswing line resides today. Support at 112 is confirmed with the three indecisive candlesticks from last week. A move below 112 would fill last week’s gap and break this upswing trendline. The 60-minute chart confirms short-term support at 112-113. Charts of interest are after the “continue reading” jump. [...]

Comment on ODDS SHIFT TOWARD A FIFTH WAVE RALLY by VALDEZAlexandria27

VALDEZAlexandria27 — Wed, 10 Mar 2010 14:41:12 +0000

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Comment on ODDS SHIFT TOWARD A FIFTH WAVE RALLY by Stock Market For Beginners : Understanding The Stock Market As Well As Crucial Signs Of Stock Reversals. | Top Stocks To Buy

Wed, 10 Mar 2010 09:21:07 +0000

[...] ODDS SHIFT TOWARD A FIFTH WAVE RALLY | STOCK MARKET FOR BEGINNER … [...]

Comment on EURO DECLINE SLOWS – PICKING THE RIGHT RETRACEMENT by Forex: USD/CAD plummets to daily low | Insider Forex Secrets Guide

Forex: USD/CAD plummets to daily low | Insider Forex Secrets Guide — Tue, 09 Mar 2010 21:20:59 +0000

[...] EURO DECLINE SLOWS – PICKING THE RIGHT RETRACEMENT [...]

Comment on REACTION LOWS FOR IWM AND RSI by SPY stalls near January high | STOCK MARKET FOR BEGINNER | Stock & Option Guide

Tue, 09 Mar 2010 18:10:54 +0000

[...] After a gap and surge above 114 on Friday, the S&P 500 ETF (SPY) stalled with a small doji on Mo… This is hardly surprising given potential resistance near the January high and short-term overbought conditions. SPY is up over 7% since mid February and up over 3.5% the last nine days. Doji, as we know, signal indecision that can sometimes foreshadow a short-term reversal. “Sometimes” is the key word here. Last week’s doji did signal indecision, but a short-term reversal was never confirmed with further weakness. Indecision reflects a standoff between bulls and bears. If the prior move was up, the bulls still have the edge after an indecisive candlestick. A decline below 113 would forge a short-term candlestick reversal similar to an evening star. It has yet to happen so the trend remains up until evidence of a reversal materializes. The blue dotted lines capture the last three swings. The current swing is up as long as support at 111 holds. Charts of interest are show after the “continued reading” jump. [...]

Comment on SPY becomes short-term overbought by Stock Technical Analysis Course – Advantages of Charting | Debt Equity Finance

Tue, 09 Mar 2010 05:41:20 +0000

[...] SPY becomes short-term overbought | STOCK MARKET FOR BEGINNER … [...]

Comment on SPY becomes short-term overbought by REACTION LOWS FOR IWM AND RSI | STOCK MARKET FOR BEGINNER | Stock & Option Guide

Mon, 08 Mar 2010 18:38:20 +0000

[...] LOWS FOR IWM AND RSI… An uptrend is defined by higher highs and higher lows. With the Russell 2000 ETF (IWM) hitting a new 52-week high last week, we can assume that the [...]

Comment on BONDS ROCKED BY PAYROLLS by SPY becomes short-term overbought | STOCK MARKET FOR BEGINNER | Stock & Option Guide

Mon, 08 Mar 2010 18:19:45 +0000

[...] Stocks surged with a better-than-expected employment report on Friday. The Russell 2000, S&P 500 Equal-Weight Index, Nasdaq 100 Equal-weight Index and S&P 400 MidCap Index all recorded new 52-week highs. The Nasdaq 100, Dow and S&P 500 also surged, but remain just below their January highs. Small-caps are clearly leading the way higher here. Large-caps are lagging. Think of this as a Dow Theory style non-confirmation. Ideally, all of the major indices would record new 52-week highs within a week or two of each other. With the large-cap indices still below their January highs, I will be watching for confirmation in the coming days. Continued non-confirmation from the large-caps indices would be negative. [...]

Comment on SPY stalls in an uptrend by BONDS ROCKED BY PAYROLLS | STOCK MARKET FOR BEGINNER | Stock & Option Guide

Sat, 06 Mar 2010 04:57:20 +0000

[...] BONDS ROCKED BY BETTER-THAN-EXPECTED PAYROLLS… The Labor Department reported that non-farm payrolls declined 36,000 for the month of February, which was much better than the consensus estimate for a decline of 68,000 jobs. Positive news on the jobs front sent bonds sharply lower and yields sharply higher. Bonds are especially sensitive to interest rates and Fed policy. While the economy has yet to show any job growth, the decline in non-farm payrolls is certainly slowing and this could affect Fed policy down the line. Chart 1 shows the 20+ Year Treasury ETF (TLT) hitting resistance from the January-February highs and declining sharply in early trading on Friday. Notice that broken support turned into resistance in the 92 area. Also notice that a triangle may be taking shape with support in the 88-89 area. Chart 2 shows the 10-Year Treasury Yield ($TNX) with a mirror image of the TLT chart. Yields found support near broken resistance around 3.55% (35.5 on the chart). This means the December breakout is holding and rates are in an uptrend as long as the February lows hold. [...]

Comment on MT Evidence shifts back to the bulls by SPY stalls in an uptrend | STOCK MARKET FOR BEGINNER | Stock & Option Guide

Sat, 06 Mar 2010 04:17:27 +0000

[...] The S&P 500 ETF (SPY) stalled for the third day running as the ETF formed its third indecisive c… While this indecision can sometimes foreshadow a reversal, stalling is not the same as weakness. At this point, it is just a rest within the advance, which began in early February. It would take a long black candlestick to argue for an actual reversal. A rising wedge defines the four week uptrend with key support set at 109. RSI edged above 60 for the first time since January. As with SPY, RSI is also trending higher and I would mark momentum support at 50. A break below 50 would likely coincide with a trendline break in SPY. [...]