S&P Technicals

s&p index gainsThe S&P closed its sixth consecutive day in the green as, once again, we begin another week of buying. However, one problem is that today's trading volume was the lowest we've seen this year since January 2nd (the day after New Years). So on one hand, market levels are slowly pushing up, but on the other, less and less people are participating in it. I'll let you decide if that is good or bad.

The S&P is having a hard time penetrating and sustaining the 1070-1080 levels at this point. Last week, the S&P quickly retreated from it, as it did earlier today. I would imagine that if the market cannot penetrate these levels this time around, we should see a rather strong retreat, leaving us with a discouraging October. I am still waiting for the volume to return at this point, which in my mind, will bring even more aggressive selling.

My shares of DRV have stayed pretty status quo as of this point, as I still have a stop loss in case of a run up in the markets this week. However, if data continues to be grim, I would expect to see a pull back. Earnings is the topic of conversation this week, as they kick off tomorrow. Watch out for earnings, as they are the easiest data to manipulate. CPI is another big indicator to be on the look out for this week.

Get 100 Commission Free Trades in an E*TRADE IRA. No-fee, no minimums.

I expect to see the dollar start to make a turn around shortly as gold begins to fall from its highs. Gold call options have significantly decreased in price, signaling investors feel that we have falling prices in the future. The market still remains very unstable and volatile, however, fundamental data remains right in line with my expectations. Happy Trading.


  1. Anonymous Says:

    FF there have been 3-4 False sell signals or reversal patterns that have not panned out. Each time the bulls/buyers have violently disregarded these previous reliable technical patterns. Yesterday set up for another bearish reversal which will not materialize again. The Intel earnings manipulated or not will be the first of many nails in the bear case this earning season. This should be a good indicator of what to expect in the days and weeks ahead. More new highs and buyers on every pullback. Extremely confusing and frustrating. There is no stopping it. The government has succeeded in saving the markets and it appears certain sectors of the economy are in a v shape recovery. A painful lesson learned the last months, never fight the fed. I am all cash. One dead bear here. 0 Logic in investing.

  2. Unknown Says:

    One bear comrade down.... How many remains.... I can't bear to sell at 70% loss hahahah


    Excellent post on standard and poors

  4. maymay Says:

    There are a number specific sprinting looks after at the tag heuer replica sale. It can be very hard on a person who isn't actually recognizable fx typically the tasks from these particular looks after pinpoint the one to find. These particular looks after need specific longines replica sale who help typically the goals from kinds of joggers. Being familiar with kinds of runner you were definitely will guidance very much through looking for fully of which category to find. Typically the chronograph is going to be most commonly seen characteristic found on virtually all runner's hublot replica uk. This unique characteristic will serves as being timer maybe a give up follow that might divided up laps. Excessive is sufficient for the purpose of easy barefoot runners. They'll instance his or her's mosey not to mention advance it again from running an identical travel time easier. You'll never replaced for the purpose of hublot replica uk who ? re solely buying his or her's pace not to mention attempting advance his or her's rolex replica uk functioning at the time of job. Cracking instance definitely will besides help you break-up typically the path most people are operated with to cells and find out the typical instance most people are operated with all part of this path. It is great for curriculums which happen to have hills not to mention ski slopes.