Posted in Currencies, SPY on Nov 19th, 2007
The stock indexes were lower today. The chart to the left is of the S&P cash. You can see the clear downtrend in prices, and the breakout of the low swing point of six days ago, where the red line is drawn. I usually show the S&P ETF. The ETF rejected that low and closed [...]
Posted in China, Currencies, SPY on Nov 7th, 2007
The chart to the left is the S&P 500 SPY etf. After that last low and subsequent rally, I suggested that if that low were taken out the market structure would have changed and the trend could be considered to be down. Today that low was taken out, as can be seen by the break [...]
Posted in Currencies, QQQQ, SPY on Oct 1st, 2007
The stocks indexes were all up sharply today, with the Russell 2000 up the largest percentage. Volume was still fairly light. It was pretty much a one time frame up market for most of the session, with only a little rotation down in profit taking at the very end of the session. With the Dow [...]
Posted in Currencies, Gold, QQQQ on Sep 26th, 2007
Stocks gapped up on the opening. News of union negotiations with GM helped spark early rally, then markets drifted sideways until late in day when rumor that Buffett might be buying or have bought large portion of Bear Strearns. Traders had second thoughts about that near the close and about half that late rally was [...]