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SPX Weekly Downtrend and 1000 SPX Support

Online Stock Trading — Tue, 31 Aug 2010 01:01:48 +0000

This last week was range bound between 1040 and 1060 for the SPX.

Looking at a weekly chart shows a clear double top and downtrend, with support at 1000. I’m waiting for a rally to short here, or clear break down under 1040.

Sold SDS TZA SSG

Online Stock Trading — Wed, 25 Aug 2010 15:20:41 +0000

SPX has hit the trendline from May today, which gives a good area of support, and a good reason to sell the ultrashort swings.

Here’s a weekly chart of the SPX, and a blown up version showing that 4-month long trendline. They’ve been manufacturing short squeezes lately, and with the 60 minute chart getting stretched, I feel one coming.

Is Volatility Coming Back Soon? – 082310

Online Stock Trading — Tue, 24 Aug 2010 00:38:05 +0000

VIX is winding it’s way tighter. As Fall appears, will volatility increase?

VXX has been stuck in a downward channel which tells the tale of trading this summer.

Long SSG – 082310

Online Stock Trading — Tue, 24 Aug 2010 00:26:20 +0000

The Proshares Semiconductor Ultrashort SSG is holding it’s 200 daily moving average, and moved up strong off of it today. I added this ETF to other ultrashort holdings. I need a breakout here now.

Here Comes October

Online Stock Trading — Fri, 20 Aug 2010 03:03:05 +0000

This market feels heavy. Today’s SPX candle was a victory for the beart camp.

I’m keeping TZA and SDS swings.

Long SDS TZA into Options Expiration – 081110

Online Stock Trading — Wed, 11 Aug 2010 15:15:36 +0000

I’m taking longs in SDS and TZA into options expiration next week. This market is breaking down, Both ETFs are basing and attempting breaks today. The plan is to sell next Wednesday or Thursday.

SPX Back Above 200 DMA – 080210

Online Stock Trading — Mon, 02 Aug 2010 20:55:28 +0000

This first trading day for the month of August caught the bears in a noose. A solid trend day up in the SPX managed to break, and close back above the 200 daily moving average.

The next hurdle for the bears is that pivot at 1131.23.

Stock Market Update for 072810

Online Stock Trading — Wed, 28 Jul 2010 20:34:54 +0000

The SPX is currently in an uptrend after forming a higher low on the daily chart. The breakout over the trend line resistance of the past few months was stalled around the 200 daily moving average. I’m bullish here, and sticking with the uptrend. A small pullback here is healthy, and the 200dma is a logical place to stall. Moving above that is the next target for the bulls.

I am not a buyer of gold stocks here. The XAU is in danger of moving into a bear market. Buyer beware. A few more thing must fall into place still, but they are looming closer. I have included the trend line down to 130 on purpose

SPX Stalled Again

Online Stock Trading — Wed, 21 Jul 2010 20:09:13 +0000

SPX has traded up to trend line resistance, and pulled back once again.

Two More Days Up?

Online Stock Trading — Tue, 13 Jul 2010 03:22:32 +0000

This SPX bounce off the long-term trendline has not put in a lower low candle. It sure seems headed to the 50dma before stopping.

VIX is back to the flat 200dma.

Logic would indicate that TYH is at resistance here, but the market is less than logical.