Stock Trading – End of August 31, 2009 Update

So far so good on this mini correction.  The e-minis tried another breakout on Sunday (up to 1031).  It failed quickly.  Note how the market did not close weak on Friday (near 1029), which made holding over the weekend that much more difficult.

Below 1016 support, there’s an area of congestion down to 1000.

Below that sits the long-term trendline on the SPX from March, with support around 980.  I’m shootin for the market to reach at least 1000 this week.

DTO is edging over it’s 50 dma, and up against the trendline.  Looks great on a break through it.

XAU winds tighter. The ProShares double long silver ETF… AGQ is one to put on your radar if this breaks to the upside.