Pre-Market Video Analysis – March 21
http://www.youtube.com/watch?v=sf1e9eAptUQ
U.S. Dollar/Japanese Yen (USD/JPY)
Last week the Japanese Yen made an all-time high against the USD. However, the rally didn’t last long as the G7 started intervening along with the Bank of Japan to stabilize the yen. Such a strong yen cannot be good for a country that’s not only trying to work through the catastrophic events from two […]
Applied Materials (AMAT)/Semiconductors Weak Today
It doesn't matter whether we look at the chart of AMAT, CY, or SMH. They all show a break of support that could lead to fairly significantly lower prices. Of course how long the weakness in the semiconductors can last in the face of a market with an identiy crisis is anyone's guess. The behavior […]
Blogging From TheSteadyTrader.com
Good Morning Folks As of today, March 21 2011, I will be blogging from this new URL: www.TheSteadyTrader.com and the old URL (www.consistentfuturestrading.com) will no longer be updated. We are still in the process of moving a few things over to the new URL and by mid-week will have the Premium Member Services up and […]
Goldman Sachs (GS) Money Flow Chart
Here are the next support and resistance levels in the S&P 500, denoted by the horizontal white dotted lines…ok maybe they are off-pink.
Silver Is Now Testing An Important Brakeout Level
After breaking higher through $31 exactly one week ago (last Friday), Silver is now again testing that level. $31 might not be as important as say $30…and we could easily see $29 or even $28 for the chart to still be constructively bullish. For now just be aware that Silver had a good […]
Near Term Support Found In The S&P 500
I'm very satisfied the way I traded the afternoon today. After looking for a re-test of the overnight lows at 1293, using SPY puts (documented in the blog here in real time) I took those profits right at the bottom. Next I waited for some confirmation that the bottom might be in and then […]
S&P 500 Below The Trend Line Now
note the cone-shape channel (teal/light blue) on the chart below. we are trading below it for the first time now..that is since beginning of last December. if we close below it I think the rally has one more little piece of headwind against it.
Small SPY Puts Position
i have a slice of puts in the SPY for a little intra-day (bucket 1) try…should we retest the overnight lows…fyi