Blog description

My photo
A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Friday, May 22, 2009

$SPX - End of day update


I love it when a plan comes together....

If your long you can safely set a stop at 878.93

If your short you can safely set a stop at 897.97

Irregardless place a trade on either side of these lines:
Long above 897.9 and Short below 878.93. When they break a BIG, and I mean LARGE move will be made.

Have a Great & Safe Memorial Day Weekend



For the Web's best interactive charts, please visit http://www.Prophet.Net

PM - Looking toppy





For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX-Update





For the Web's best interactive charts, please visit http://www.Prophet.Net

Video worth a look......

Thursday, May 21, 2009

$SPX


YTD look shows how toppy...


For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX


The market has dandruff....the ranges are pretty clear


For the Web's best interactive charts, please visit http://www.Prophet.Net

Crude to $78.75


When it breaks the $62.81 level on a weak US dollar. Weak dollar means commodities going up........


For the Web's best interactive charts, please visit http://www.Prophet.Net

TGT


HUGE Head & Shoulders pattern on Target. Short with a stop at $43.25. And you can bet I'll be looking 3-6 months out for Puts at the $25 level.

COST is another one to watch with a similar topping reversal pattern potentially forming here as well....


For the Web's best interactive charts, please visit http://www.Prophet.Net

GS

If Goldman Sachs is leading the market, then tomorrow the wheels on the bus will be travelling through the hood and coming off.  Can you see the H&S pattern over the last 5 days on this 10-day 1hr chart?

Wednesday, May 20, 2009

XLF @ S1 Pivot $11.88 - will it hold?

This level is also the bottom of this channel and a lot of white space beneath it.

It did not hold and is now resistance.

GLD - HIT weekly Pivot R1









XLF - Financials ETF


Ascending triangle to $13.18


For the Web's best interactive charts, please visit http://www.Prophet.Net

BAC


Long term look at BAC


For the Web's best interactive charts, please visit http://www.Prophet.Net

GLD - 2yr weekly


The 2yr weekly shows the battle GLD is having over the $90 price point. And a review of the Pivots posted earlier explains why. Take a look at all the $90 price points on the daily, weekly, and monthly pivots. I see getting long here on any pull back below $90 with a tight stop just below the bottom of the channel at say $89 and a loose stop just below the monthly pivot of $87.86. Short-term target of $94.50 - Long-term $99.89.

GLD





For the Web's best interactive charts, please visit http://www.Prophet.Net

GLD - Pivots

 

Day

Week

Month

Quarter

Year

R3 = High + 2(Pivot - Low)

92.13

94.72

97.25

120.01

137.08

R2 = Pivot + (R1 - S1)

91.74

93.26

94.32

109.50

118.76

R1 = (2*Pivot) - Low

91.35

92.41

90.79

99.89

102.64

PIVOT = (High + Close + Low)/3

90.96

90.95

87.86

89.38

84.32

S1 = (2*Pivot) - High

90.57

90.10

84.33

79.77

68.20

S2 = Pivot - (R1 - S1)

90.18

88.64

81.40

69.26

49.88

S3 = Low - 2(Hi - Pivot)

89.79

87.79

77.87

59.65

33.76

 

PM


A waiting game here on PM as like the overall market it appears to be topping out. Lines in the sand on the way back down are 39.28 and 36.26. PM has gotten ahead of itself and a pullback to the 200 day EMA will just revitalize the BULLS as the 20 & 50 Day EMA's continue to rise to the 200 day ema which is currently at 40.75. And as the last post of the Pivots shows the Monthly R2 resides at 40.58 which will also act as support on the way back down.

PM - Pivots

 

Day

Week

Month

Quarter

Year

R3 = High + 2(Pivot - Low)

43.37

47.60

42.20

55.58

75.75

R2 = Pivot + (R1 - S1)

43.05

45.46

40.58

49.99

64.99

R1 = (2*Pivot) - Low

42.63

44.32

38.39

42.78

53.94

PIVOT = (High + Close + Low)/3

42.31

42.18

36.77

37.19

43.18

S1 = (2*Pivot) - High

41.89

41.04

34.58

29.98

32.13

S2 = Pivot - (R1 - S1)

41.57

38.90

32.96

24.39

21.37

S3 = Low - 2(Hi - Pivot)

41.15

37.76

30.77

17.18

10.32

 

Monday, May 18, 2009