Yesterdays strong upmove pretty much makes the March 10 to March 17 period standout as a basing formation and the swingpoint of that base period, S&P 500 @ 1305 should be considered a significant support area. Until it is tested…Continue Reading →
Our comments on Sunday afternoon before the market opened for the week stand from a perspective standpoint. Over the past week we have twice seen both sides of the huge 1280 – 1330 trading range . Now the price negotiated for the…Continue Reading →
The stock market rally on Tuesday was a reaction to the fed starting to do the right thing. And that again is its changing focus to increasing liquidity rather than dropping  interest rates. Even the CNBC talking heads are moving…Continue Reading →
On February 2oth we outlined the parameters of how to back into a contrarian position and posed the question of what would happen if the FED started leaking in some way that they have done enough on rates, that lower…Continue Reading →
The bounce we expect towards the 1435 to 1460 area in the S&P 500 is still in play. 1360 remains the pivot point depending on what ladder you are using. As such 1310 is probably an extreme on the downside…Continue Reading →
We are watching the 1360 area on the S&P today and tomorrow. This is an important valuation area that could provide support for the bounce that is still possible to the 1460 level. Also in terms of longterm technical indicators,…Continue Reading →
With inflation getting outside the box and commodity prices out of control we are seeing a Fed that is reaching its moment of truth. Will Bernanke really follow the data as he promised when he was appointed. It appears likely…Continue Reading →
Since the low on January 23rd the market has been on a quest to find direction and 1348 on the S&P 500 has developed as the swing point in that direction finding period. Overnight the futures market has had a…Continue Reading →
This week we are watching for a retest of the 1285 area on the S&P 500. We think it will hold and that it will setup a sustained rally into the mid March period. Use whichever game plan fits your strategy.
From a technical standpoint yesterdays higher opening and weak push higher wasted a lot of energy and did not setup a trade. Now the undervalue area of 1285 to 1310 is where support should develop. Housing, retail, and employment numbers…Continue Reading →