Thursday, September 29, 2011
Wednesday, September 28, 2011
Are we in a recession?
Determining whether the economy is in recession is like proving if God exists. You really don't know for sure until it's too late to do anything about it.
Tuesday, September 27, 2011
Sunday, September 25, 2011
Wednesday, September 21, 2011
The Elliott Wave lives on
For the day the SPX/DOW were -2.70%, and the NDX/NAZ were -1.80%. Bonds gained 11 ticks, Crude lost $1.75, Gold dropped $22.00, and the USD was higher. Support for the SPX drops to 1146 and then 1136, with resistance now at 1168 and then 1176. Short term momentum hit extremely oversold at the low. Tomorrow, weekly Jobless claims at 8:30, then FHFA housing prices and Leading indicators at 10:00.
The market opened quietly enough and drifted lower awaiting the FED’s policy decision. After the announcement, the market bounced around and then had a waterfall last hour of trading. The decline from yesterday’s high at SPX 1220 to today’s low at 1166 is 54 SPX points. This is what we expected the first time the SPX hit 1220 on September 16th. Despite today’s selloff we are sticking with our count of the potential uptrend to SPX 1246 over the next few weeks. The initial high at SPX 1220 is still labeled as an Intermediate wave A, and the action since then as Intermediate wave B. As long as the market finds support within the 1168 pivot range, or the 1146 pivot range, this count still looks good. Remember, this market has sold off on every FED speech/statement since the last FOMC meeting.
Short term support is in the 1168 pivot range, the mid-1150′s, then the 1146/1136 pivot range. Overhead resistance is at the 1176 and 1187 pivot ranges. Short term this market is extremely oversold. Best to your trading!
http://caldaro.wordpress.com/2011/09/21/wednesday-update-306/
The market opened quietly enough and drifted lower awaiting the FED’s policy decision. After the announcement, the market bounced around and then had a waterfall last hour of trading. The decline from yesterday’s high at SPX 1220 to today’s low at 1166 is 54 SPX points. This is what we expected the first time the SPX hit 1220 on September 16th. Despite today’s selloff we are sticking with our count of the potential uptrend to SPX 1246 over the next few weeks. The initial high at SPX 1220 is still labeled as an Intermediate wave A, and the action since then as Intermediate wave B. As long as the market finds support within the 1168 pivot range, or the 1146 pivot range, this count still looks good. Remember, this market has sold off on every FED speech/statement since the last FOMC meeting.
Short term support is in the 1168 pivot range, the mid-1150′s, then the 1146/1136 pivot range. Overhead resistance is at the 1176 and 1187 pivot ranges. Short term this market is extremely oversold. Best to your trading!
http://caldaro.wordpress.com/2011/09/21/wednesday-update-306/
Friday, September 16, 2011
Sunday, September 11, 2011
Hope not
Seeing TONS of short setups right now. Historically, every time that happened, the market bounced. LOL! Will this time be different?!
Sent Sep 11, 11:18 AM
From TweetDeck @traderstewie
Saturday, September 3, 2011
@ukarlewitz
$SPX forward-earnings yield is a record 9% points above the near-zero real yield on 10-year TIPS, a level not seen since the early 1980s
Sent Sep 03, 09:25 AM
From StockTwits Web
Friday, September 2, 2011
@howardlindzon
Just read my 100th 'stocks are plunging' headline of the day. hmmm. $amzn was $180 a few weeks ago and has plunged to $210...
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