Important Near-Term Resistance Line on S&P 500
check out the downward sloping blue line…resistance the past week or so…if we pierce above it and hold we can snap a good amount higher
S&P 500 Inverted Head & Shoulders Pattern
I think it's worth pointing out the inverted head & shoulders pattern (bullish) that developed in the S&P500 over the past 1.5 months. With a neckline around 1340, if this pattern plays out texbook it would mean the SPX could rally all the way to around $1430ish. Just a thought for now though, I am […]
Morning Line-Up
Good morning and happy Friday! After a fairly flat broader tape yesterday, we rise this morning to most things, dollar and treasuries aside, trading at higher prices. The Euro continues its astonishing rally on the back of the rate-hike the other day. Gold, silver, oil, and stocks are all up solidly ahead of what looks […]
Today’s pre-market video is uploaded now. Watch it here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Monday Morning Market Thoughts
Last week's market action was weak, as displayed by bearish engulfing candlesticks on the weekly charts of major U.S. indices. The Russell 2000 is despite choppy action very close to again making lower lows since the beginning of May and the SPX and NDX look very much the same. This morning I am […]
Silver Crash And More…Friday Afternoon Rambles
It's been a seriously tiring week and I for one am ready (and have been for a few hours) to put my keepe in a resting mode for a solid 36 hours at least. The S&P 500 as well asl the rest of the major equity indices had a volatile time to say the least. […]
Today’s pre-market video is ready to watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
S&P 500 Indecision Marked With 3 Dojis
Note the three doji candles the past three days. If you're not familiar with candlesticks, a doji essentially shows investor indecision. The question becomes whether these three indecison days in retrospected ended up being consolidation days or whether they will have meant that investors were getting nervous about the potential government shut-down and earnings season […]
Perspectives After A Tough Day In The Markets
To see the entire article become a Premium Subscriber here: http://steadytrader.wpengine.com/members-area/ Yesterday’s battle left much blood on the streets and it is exactly because of days like yesterday that we a) trade/invest in multiple time-frames and b) are open to entirely change our outlook each and every day if need be. Less flexible, stubborn…heck I’ll […]
Near-Term S&P 500 Levels That I Am Watching
Support Levels: 1329, 1325, 1320 Resistance Levels: 1336 – 1338, 1345