I Closed The Small SY Put Position At The Overnight Low
…and i think we could rally here…maybe we just needed to re-test the overnight lows before we can head higher. i don't have any intraday (bucket 1) horses in the 'bullish' race though
Tiffany (TIFF) Is Falling Hard Of All Time Highs
TIF hit $65.75 in the latter part of December 2010 and attempted to retest that level last week. It came close but has fallen hard since. The stock almost quadrupled from the low in early 2009 to the high of December 2010. 1. As it relates to the global recovery, I am doubtful that the […]
S&P 500 E-Mini Futures Updates
after the big selloff at the open of trading in Europe, the market has worked higher since and came within a couple of ticks of hitting the overnight high. there's always a tendency of retesting over night highs and lows. IN today's case, should we retest the overnight low at 1293.5, that's another 10ish […]
S&P 500 Support And Resistance Levels
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.
What One Man Learned From A Hedge Fund Giant
Here's what James Altucher wrote he learned from his communication with Stevie Cohen from SAC:" A) Go for it. If you want to work for someone. Email them today. B) Be persistent. Make sure you have something to say: but say it every month. Until they respond. At some point if you deliver enough value, they will […]
Wal Mart (WMT) Stock Is Underperforming
Look at the following chart and note Wal-Mart is back at price levels last seen in early September 2010 and traded -6.55% last week. Whether or not this was an over-reaction to the earnings announcement remains to be seen, but purely looking at price action speaks volumes. WMT has broken multiple resistance levels and […]
Watch The Dow Jones Transport Here
the Dow Transports ETF (IYT) has potential resistance at the $92.50 area, which is the 50 day moving average and a 50% retracement of the selloff this week.
glodman Sachs (GS) Could Have A Chart Breakout
Looking at the below chart of Goldman Sachs (GS): the chart looks constructive at first sight,but please note the significance of the $160 level. Should $160 and then especially $155 fail to hold as support, I will look at the short side. Until then however, note the blue zone on the chart, which is an unfilled […]
$1320 In The S&P 500 Could Serve As Resistance
$1320 in the S&P500 could serve as resistance. 1320 is half way (a 50% retracement) of the entire sell-off this week. Should this level not serve as resistance I would look at 1325 as next possible resistance. If neither hold assume new highs will be next.
Oil Could Run Much Higher Soon!
The first chart below is light sweet crude oil futures. Note two things: 1) Oil has broken out of a long consolidation pattern (light blue lines) and closed above it on a weekly chart. 2) Oil has now retraced 61.8% of the down move in 2008. All in all, that's bullish. The second chart is […]