Posts Tagged by investing day traders
S&P Stock Market Anlaysis for Week of Nov 9-13
| November 7, 2009 | Posted by admin under Day Trading Ideas |
While the market did try to push lower, it did not get below the 1029 level (which as mentioned in last weeks post) would have indicated a strong bearish bias if the level was broken. That level was brushed by the market but quickly retraced higher. We have moved up and closed right at the…
S&P Anlaysis for Week of Nov 2 – 6
| October 31, 2009 | Posted by admin under Day Trading Ideas, Stock Market Analysis, Techncial Analysis Tutorials |
The sham of a GDP number (see: http://vantagepointtrading.com/archives/2055 ) gave false optimism on Thursday ; the reality of the situation is more congruent with Friday’s action. But let’s look at the technicals: Rallies on the S&P 500 in the upcoming week can be expected to experience resistance at 1042 and if that fails to hold…
If Monday trades through 1032 it is likely the market will continue lower, although this is not really an important technical level. A continued move below 1029 points to a test of former swing lows at 1020 and then beyond that 1005-1000.
Based on a daily chart trendline the uptrend was still intact until Friday. A down day on Monday indicates the trend has in fact been broken and we are due for a larger correction.
Happy Trading,
Cory Mitchell, CMT
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