Waiting for DIA, XLI, QQQQ and the VIX to confirm the breakout on $SPX, but the breakout on $DJT/IYT yesterday certainly adds evidence to the bull case.
http://money.cnn.com/2009/03/21/news/economy/bank_bailout_next_step/index.htm?postversion=2009032209
Looks like we got another over the weekend press release from the government. We should get our first look at what the markets think of it when ES begins trading in a few hours as well as the Asian markets. Like most headlines, I don’t think it affects how to trade the market but it [...]
$SPX looking good for now. The high was right at resistance in the early morning and the selling pressure then set in. RSI is also pretty interesting right here. Price momentum bumped right up to the January high on RSI and also fell back. RSI has not been higher since last May.
The Dow was the [...]
On tap tonight I will be discussing what I deem to be key indexes, a look at the bond funds, currency funds and some specific stocks.
$SPX
I will start by looking at $SPX which I examined yesterday in some detail.
Here is a summary of my posts from yesterday:
- The peak at 930 to trough at 800 [...]
Welcome to No Man’s Land. Closing price is right at $82.58 in the middle of the 80-85 trading range. RSI is right in the middle of its range. The range of today’s trade contracted. I think the key in this market is not to over trade it. We are still in a mode where we [...]
Continue reading about (SPY) No Man’s Land and Transportation (IYT, $DJT)
