Looking for a bounce back Monday to 90.56 and as high as 91.15 on SPY and then the fade to 88 will begin.
Blog description
- Rodney
- 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.
Saturday, July 4, 2009
SPY - 10 day/ 10 min
Looking for a bounce back Monday to 90.56 and as high as 91.15 on SPY and then the fade to 88 will begin.
Friday, July 3, 2009
Wednesday, July 1, 2009
The Dollar Affect
Okay, I realize this looks like a mess. However, upon closer examination I hope you'll find this as intruiguing as I did. Chart time frame is from March 9, 2009. From the top working our way down:
S&P - Black line
UDN - Inverse ETF for the US dollar or dollar down - Blue
MCD - McDonalds - Tan
XOM - Exxon - Purple
MO - Altria - Orange
UUP - ETF for the US dollar or dollar up - Green
Same set but from the 2007 high:
From the 2007 high with just the S&P, UUP, UDN:
DOW 30
It appears this is the last gasp higher for no particular reason in the face of more poor economic reports. If you are long, follow your stops up and set them tighter as it continues higher.
Bottom line is their WILL be a violent rollover soon. Soon may be today or next week or next month but it IS coming. And the longer the market drifts higher on bad news is only strecthing the rubberband tighter for the coming recoil to the downside.
Tuesday, June 30, 2009
Bruno/Cook Annual Stock picker competiton 1/2 way Update
And another prime example of why "Buy and Hold" DOES NOT WORK!!!!!
Six months from now my gains will have eroded and Bruno will be lucky to get out even. Bottom line is it's a Trader's market.
Six months from now my gains will have eroded and Bruno will be lucky to get out even. Bottom line is it's a Trader's market.Monday, June 29, 2009
FSLR - update
SPY - 5 Day/ 5 min
SPY
10 year note
The 10 year note will play a key role as a market range breaker. Note the inverse H&S pattern forming the right shoulder in July/Aug suggesting a last gasp of Bull hope before rates blow toward the 5% range. Combine this with the long term crude being driven higher and the inflation trade is on.
Bottom line is you better be looking to get short Everything with a ticker as oil tops $75 for no reason at all and the 10 year note bottoms out at 3.275% .
Sunday, June 28, 2009
Crude monthly
Mid channel and the 200 MONTH moving average is 82.92.
For the Web's best interactive charts, please visit http://www.Prophet.Net
QQQQ
This chart of the QQQQ's shows how tech has been leading or at least holding the market up of late. I find it interesting that the H&S pattern has been rendered mute as the right shoulder was never formed. The Bulls could easily make the argument for a test of the highs. Target 37.25 and then getting VERY short the four horses of AMZN, AAPL, RIMM, & MSFT.
For the Web's best interactive charts, please visit http://www.Prophet.Net
GLD - Update
Got stopped out of a long trade only to see it rise higher. GLD still works for me above 91.50. Otherwise, getting short below the 50 day EMA and a possible channel break to the downside.
For the Web's best interactive charts, please visit http://www.Prophet.Net
MSFT to $21.50
Mr. Softy is in danger of losing the $23.35 level and a retracement to Fibonacci level 78.2% or $21.52. If it holds, load the boat for the move to $28.50.
For the Web's best interactive charts, please visit http://www.Prophet.Net
SPY - Stuck in the middle
Head & Shoulder pattern making right shoulder would indicate the 200 day moving average will act as resistance again and a possible test of 88 before the holiday.
For the Web's best interactive charts, please visit http://www.Prophet.Net
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