Market Analysis 10/09/11 - unitedfinancialplanner.com
The market indexes had another tough week last week. Listening to the news, both political and business, nationally and internationally can make the market direction difficult to predict.
Monthly Chart of the S&P 500
Looking at the monthly S&P500 chart filters out some of the noise and the direction becomes much clearer.
It is clear that we had [...]
S&P500 Breaks Out of Intraday Descending Channel - unitedfinancialplanner.com
The S&P500 just broke out of its intra-day 15 minute chart descending channel.
The faster moving averages also crossed and are pointing upward.
This may be a short term move - so keep tight stops.
Remember, the current bias of the market is still downward.
Technical Analysis S&P500 August 22 2011 unitedfinancialplanner.com
The recent chart action on the S&P500 is very similar to the chart action on the weekly chart back in 2008.
The similarities include:
Come off a a reasonably long bull run
Penetrated the 200 day moving average
Action on above average volume
The lessons we should learn from 2008 is:
Market traded in a horizontal channel for about 2 months before going [...]
Market Direction - Reversal Likely - July 8 2011
The major indexes all opened down at the open in response to the poor jobs report.
Technically, the indexes are setting up for possibly 3 options as far as candlesticks go.
The first option is to maintain the current lows or go lower and this would indicate a short term reversal.
The second option would be that the [...]
S&P 500 Resists 200 Moving Average and is Now in Short and Long Term Uptrend
The SPY (proxy for the S&P 500) recently confronted quite a few technical opportunities and in each case, indicated that the index wants to go higher.
First technical challenge was the prior low set in March as 125. Recent action took the index to the low but did not penetrate thus creating a double bottom. This [...]
S&P 500 - DOJI close on March 17, 2011
The ETF SPY (proxy for the S&P500) has a DOJI close yesterday. This normally indicates a lack of direction or indecision. It was also an “inside day” in that the highs and lows were within the range of highs and lows of yesterdays trading. This would also indicate a reduction in stock market volatility (VIX).
S&P 500 Correction - March 14, 2011 unitedfinancialplanner.com
The S&P 500 appears to have broken the upward channel that has been in place since September 2010.
The next point of resistance for the S&P 500 is 1,275.
S&P 500 Channel Break Out To The Downside
The S&P 500 penetrated the lower channel of the recent upward channel with a gap down on very strong volume.
The index also pentrated the the 200 moving average and closed below 1,200. The next 3 trading sessions will probably test the recent move to confirm that the channel is broken and we are in for [...]
Technical Analysis - March 08 2011 - unitedfinancialplanner.com
The S&P 500 is broke through the lower support line of this now long running upward channel.
The recent highs of this index did not come close to the upper support line of the channel.
The recent down days have also had above volume.
These are all indications of a tired bull run. Further pentration of the downward [...]
S&P 500 - Up Channel is not Broken
The S&P500 managed an up day on Friday, the 25th, after a DOJI close on Thursday.
This means we have not broken the up channel at this time.
We are currently sitting at the 50 moving average.
Recent Comments