Month: December 2011
Support Broken Tends To Act As Resistance
We have been correctly suspicious of the pattern of lower highs and lower lows below the declining 5 day moving averages for the $SPY $QQQ $XLF and $SMH and that has hopefully saved you some money. The weakness in $SMH was our primary reason for concern for the broader market and after the $QQQ lost … Read More
Uncertainty Reigns Ahead of Fed
Markets experienced some large volatility this morning but are now quieting down ahead of the Federal Reserve statement. The declining 5 day moving average continues to be a problem level for the $SPY $QQQ and $XLF The $SMH is in much worse shape and gives us reason for concern. On a larger timeframe (not shown), … Read More
Stock Market Video Analysis 12/12/11
With the exception of the semiconductors ($SMH) the markets stayed at or above key levels of support. Time is running out for the year and bulls will have to make a stand real soon if there is going to be a stronger finish. The video below takes a look at support/resistance levels and potential scenarios.
Phenomenal Volatility of 2011
2011 has been a phenomenally volatile year. There have been some fantastic trade opportunities if you are nimble and highly skilled, but even the most experienced and disciplined traders I know have expressed their frustration at some point over the last year. I talk with some pretty high caliber trading and investing professionals and regardless … Read More
Webinar Registration & Trade Ideas for 12/12/11
{+++}Please REGISTER HERE for MONDAY’s (December 12) live event from 8-9 PM Eastern. We will not discuss any bulletin board stocks or stocks which trade less than 500,000 shares per day. There are some very simple procedures I ask everyone to follow to ensure that the webinar flows smoothly and that your questions get answered. … Read More
Recovering Market but Still Fragile
The battle at the 200 day moving average continued in the $SPY this week and after being rejected from that level on Thursday, the market fought back impressively today. The big rally we saw two weeks ago seems to be getting absorbed through a time correction rather than a deeper price pullback and that is … Read More
Important Higher Lows Made
Yesterday’s ugly close was swallowed up quickly with a gap and run higher in the markets and we now have important higher lows to measure the strength of the market against. The day to day volatility keeps us on our toes, but the market is providing solid levels to measure risk against. Near term the … Read More
