In the last week, we’ve had a series of breakdowns through support levels. The previous lows of 1480s were tested and broken on Thursday and Friday. The market has entered a very volatile state, and you can expect it to remain this way for a while. Indecision from investors permeates the market at the moment.
On […]
Oil is too close to last year’s highs right now to not trade there. With oil currently at around $75, it will most likely head to $80/barrel before hitting $70/barrel. When commodities move one way, they typically stay that way until some type of technical break down or exhausting buying climax reverses the trend. When […]
Last week, we found that the market technicals looked bullish. This week, however, we had some indecision in the market. Investors have been hesitant about putting more money into the market at its all-time highs. This is a good sign as the hysteria that is so typical of the last leg of a bull run […]
After the Dow first hit 14,000 a few days ago and Bear Stearns announced that their two sub-prime hedge funds are basically worthless, we were set up perfect this morning to open down and trade much lower. Intel (INTC) traded down the other day after good earnings and forecast was another sign that we […]
Well, as I anticipated in last week’s stock market overview, price has broken through resistance and had a massive move up in the same day. You can expect the markets to be very volatile in the upcoming weeks because many investors are hesitant to put money in the market since it’s at an all-time high. […]
Ever since I started trading, it’s been very useful to keep tabs on the news. The Wall Street Journal offers some interesting insight into the market.
‘Margin Debt’ Hits Record $353 Billion on NYSE:
Investors are borrowing record sums of money to finance trades on the New York Stock Exchange, according to data due out from […]
As discussed in the last stock market overview, the S&P has bounced off support and is heading back toward resistance.
Key Investing Basics
RSI has formed a double bottom and bounced above the 50 level - bullish
MACD crossover indicates bullish sentiment
Price approaching key resistance at 1540
Look for a breakout above the 1540 level, and a major move […]
Since last week, we can see that price has bounced off the 1480s support level. In fact, it seems as if the S&P has fallen into a trading range, bouncing between 1480s and 1540s.
Furthermore, RSI has been oscillating around the 50 levels, confirming the indecision in the market. Wednesday is July 4th holiday and the […]
We see that from last week that the market couldn’t break through resistance at the 1540 level. In fact, there were four consecutive days where the market tested sub-1540 levels before falling back down.
Key investing basics:
RSI is hovering around the 50 level, which is a crucial junction. Strong bullish trends typically stay at or above […]
In last week’s stock market overview, we saw numerous bearish indicators. Well, it seems like the market has rebounded well with three strong up days to finish the week.
The RSI bounced off the 50 level, which is a strong bullish sign. Watch for resistance from the previous support line, as indicated in the chart. […]