Finally! Adam is back from his trip to New Zealand and has released a new update video on the S&P 500 which shows the current trade triangle structure, quick trend analysis, and Fibonacci levels to watch (short and intermediate frame). Cleverly entitled, “Where should YOU be in the S&P 500,” Adam updates us on the…
With the market in a pullback retracement mode currently, I thought it would be a good idea to look back at the S&P 500 rally off the March 2009 lows and get a sense of what to expect in terms of the average pullback.
Let’s take a look.
On a major day in the equity markets, it can be a good idea – particularly for swing traders – to know what the top ten and bottom ten performing S&P 500 stocks were on the session, which could generate a few trading candidates or ideas.
Let’s take a look at the top 10 and bottom 10 percentage performing stocks in today’s wild market action.
The news is abuzz with the recent announcement by President Obama to increase regulation on large banks deemed ‘too big to fail’ and the broader financial sector and stock market is selling off… but there’s an overlooked silver lining that may emerge that investors and traders might be missing – what’s bad for big banks may very will benefit small, regional banks.
Once again, we find ourselves in a choppy, gappy trading range, and if you feel that history is repeating… it certainly seems to be.
Let’s take a look at the recent November/December 2009 ‘trading range’ in the S&P 500 and SPY and then compare that to the current mid-January 2010 trading range and note the key boundaries to watch.
I’ve been discussing the importance of the 1,150 level in the S&P 500 as a key boundary between bull and bear, but now let’s step inside the charts and inside the market to look at a few key market internal indicators as we again challenge that level today.
There is a distinct possibility that a Bull Flag pattern formation is setting up currently in the US Dollar Index, and we should know for sure by the end of next week if not early into the following week as to whether this set-up will be confirmed (triggered) or not.
It’s rare when a special Senate election might have a direct effect not just on the Health Care sector, but the broader Stock Market in general… and the direction of governmental policies until the next mid-term election in November 2010. However, that’s exactly what might happen when residents in Massachusetts go to the polls on…
I’ve been saying that the 1,150 level is the next likely target once 1,121 was broken, and the market is struggling to overcome the 1,150 level currently.
Let’s take a look at an additional reason why 1,150 is an important barrier for the S&P 500.
I wanted to show a quick chart of the current mid-day SPY (S&P 500 Index) on January 14th to highlight a good example of price compression/consolidation which is often a precursor to a price breakout in one direction or the other, according to the “Range Alternation Principle.” Let’s take a look at the current intraday chart.