S&P 500 Daily Chart Analysis – April 21

As I've been discussing with Premium Members over the past week or so, the S&P 500 is starting to get into a position for a nice move higher, potentially as high as 1440.   On the chart below let's notice a few key parts.  First, the 50% retracement of the December lows to the February […]

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 […]

Quick Daily Summary Thoughts – April 19

Well, after a morning of backing and fillling (the gap), stocks decided to edge higher by roughly 0.50%, depending on which u.s. index you look at.  Monday's 15 point gap lower only has about 5 points left to go to fill entirely.  One of my key shorts as of late is RIMM, and it treated […]

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 […]

Where We Stand: A Look at S&P 500 Sectors and Industries

  The S&P 500 is currently battling it out with the most immediate support ($1275 – 1300) and resistance ($1345) levels on the daily charts.  While investor sentiment is skewed to the bull-side, among the more active types (hedgies and such) the view seems to be more two-sided.    As such I thought it would […]

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 […]