My long term view of the SPY…
Posted by MC on Oct 9, 2008
Clean TA…simple is best IMO. Chart speaks for itself as far as I’m concerned.
Volume
Posted by Cire2222 on Jul 30, 2008
I wanted to point out some volume indications On both a weekly and daily basis that seem to indicate bullish activity
Below is a weekly chart of the SPY (S&P tracking ETF) I wanted to note the volume at the pivots
Drill down to a daily chart and see more bullish volume action
Are we there yet…..?
Posted by Cire2222 on Jul 21, 2008
Now that we have kicked off the week I wanted to do a follow up on last weeks weekly chart that was posted here. We came down and tagged one of our weekly downtrend lines. Now the question was, and still is, was that a solid support level or is the true downtrend line yet to be tested? We have bounced before in this bear market and came right down to new lows, will it happen again? We kicked off this week with a slow light volume down day, however after hours reports from Apple and American express send the futures falling down in the after hours trading. As i type this the dow futures are down 100+ points. Of course this doesn’t mean we open that way but it does usually mean we will see more volume and more action in tomorrows trading. One thing I would recommend keeping an eye on is the dollar. If the dollar can give some significant strength in the next couple days I would expect some short covering to send it in a decent size rally. This will be bullish for the stock market. As far as earnings go, the financials have not given too much dissapointment letting me know that alot of the financial fears are baked in to this market. I think the big question many want to know is, will another large financial institution take a dump? Lehman, Wamu and Wachovia are a couple names that come to mind. Fears like that are what can keep investors on the sidelines waiting, these are the people that will come jumping into the market once they begin to feel they may have missed the bottom. Thats what can keep a short cover rally on the move.
Oil crushes all in it’s path
Posted by Cire2222 on Jun 8, 2008
Well the dollars solid attempt at a decent rally was put to a screeching halt as Oil exploded to it’s highs. The USD/JPY and EUR/USD trades were good while they lasted but I was stopped out on what was left of my positions. The stock market was destroyed on friday, below you can see a couple follow up charts to a prior post of mine in regard to the SPY breaking down and the VIX breaking higher days before this sell off, this is why I have had a bearish stance. After a large move like friday I do not like to take any new swing positions right away. If your currently short just manage your position and if your on the sidelines stay there, it’s in your best interest. I will continue to have a bearish outlook on this market until the technicals tell me otherwise.
VIX, SPY , TRAN
Posted by Cire2222 on May 25, 2008
The past week we had all eyes on the VIX, Transports and the key stock indicies. We got the breakout moves that we were ready for on all these markets. Here are some follow-up charts
