Weekly Stock Market Overview – 01/29/12
S&500 Monthly Chart
The close price is above the 200, 50 and 21 period moving average, which is bullish.
The S&P500 close on Friday was right at the upper channel of wedge channel. If the price can get through this resistance, the next stop would be the previous high of $137.18, set in Q2 2010, with [...]
S&P500 bottom for 1/27/12?
Looks like the S&P500 wants to possibly create a bottom here on the 5 minute chart.
SPY ETF 1/27/12 mid day
We keep making lower lows on SPY ETF 5 minute intra-day chart. Looks like we may test the last low around $130.
The three moving average are all now downward pointing and in the right order. The slower (200) is first with the second being the 50 and the fastest (20).
Stock Market January 27, 2012
The SPY ETF closed down significantly but not at its lows for the day. The 20 period moving average penetrated the 200 period moving average generating a bearish indication.
The 50 period moving average did not penetrate the 200 moving average. This would increase the bearish sentiment if this happens today and based on [...]
Markets – Intraday – 01/26/12
Looking at the S&P500 on an intra-day 5 minute candlestick chart, I will sell SPXU (currently long) if the 5 minute chart shows a low and a subsequent higher low.
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