Quick Daily Summary Thoughts – April 20 – Strong Like Bull
Story of the day; 16point gap up in the futures this morning and sideways for the rest of the day. Nothing to see here folks, move along. Well, after the bell AAPL QCOM, FFIV and others includine YUM and CAKE came out with good earnings and as of right now all of them are ripping […]
Today’s morning market video. Watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Today’s pre-market video has been uploaded. Watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Morning Look At the S&P 500 Technicals
Good Morning All! A real quick glance at the chart of the SPX technicals reveals a bullish close yesterday (long tail on the candlestick), as well as closing above the critical 1300 area. One more bullish day today would confirm a near-term bottom. On the other hand, one more weak day today could lead the […]
Is The S&P 500 Ready To Soon Make New Highs For 2011?
That's the question many investors are asking themselves as we sit somewhere between resistance ($1345) and support ($1300). Last Thursday's test of the $1300 area and subsequent bounce with follow-through on Friday may have been a the signal we needed to go long again – note the bullish candlestick on Thursday's trading session. In my […]
S&P 500 Analysis, Monthly And Daily Charts
As mentioned late yesterday here (http://steadytrader.wpengine.com/why-sp-500-1300-is-important-until-it-fails/), the SPX 1300 level has decent significance…until it fails that is. For now just note the nice bounce off 1300 (yes i discussed this in the morning line-up newsletter yesterday and said we'd buy a test of 1300ish) and how that level also coincided with previous resistance as well […]
Why S&P 500 1,300 is important, until it fails…
The simple reason why SPX 1300 is important is because that's where we bounced from today. Two more things I'd like to point out however, that give 1300 a little more resiliency. One, 1300 served as resistance in mid March and two, it's also between the 38.2% and the 50% Fibonacci retracement level.
Today’s pre-market video is ready to watch:
http://steadytrader.wpengine.com/video-2/april-2011-2/
What is it about this chart that wants me to short it?
Isn't there just something about this chart that makes you want to short it? maybe that's exactly why we should't
Levels To Watch On SPX, RUT, IYT
Good Morning Again! Here are the levels I am watching on the S&P500, the Russell 2000, and the Dow Transports ETF (IYT). SPX Support: 1320, 50 day moving average (yellow line), 1310, 1300. SPX Resistance: 1340, 1345. I still see a potential final SPX upside target somewhere between 1380 and 1450. RUT Support: […]