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/
I Recorded Today’s Pre-market Video, Available Shortly
Available shortly here: http://steadytrader.wpengine.com/video-2/march/
Quick Market Wrap-Up…May Need A Pause
Hi Folks I was in transit all day today and now a little jet-lagged so I will keep this brief. Well, it was another rally day in the markets and we did climb and close above SPX 1320. All summed-up this is now a 5.5% rally in 10 trading days. I mentioned that as a […]
Pre-Market Notes – Tuesday March 29th
Pre-Market Notes – March 29th With the SPX right at (but above) the 50 dma, yesterday was a bit of a lazy session. Investors need some rest here to digest the wild swings from the past two weeks. At the same time it is quarter end (3 trading sessions left) this week so I would think the swings […]
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
Today’s pre-market video is ready to view here:
http://steadytrader.wpengine.com/video-2/march/
Today’s pre-market video is uploaded. Watch it here:
http://steadytrader.wpengine.com/video-2/march/
Morning Update, SPX, Metals & More
An early selloff led to a classic intraday double-bottom and ended up with a rally. On the S&P500 daily charts we now have the 50 dma and the critical $1300 right here and looking at the overnight futures (up 0.75% right now) we might open above those two key levels. Whether that ends up being a […]
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: […]