support

$SPX Stuck in a 9 point range..Which way will it Break?

Posted by Investing Freak on September 27, 2009
Market Analysis / 2 Comments

The S&P 500 index is stuck in a 9 point price box.
1051 is resistance from October 2008.
1042 is support from  the last 3 days and also the 18SMA.

We need to see 2 or more days of market closing either above or below one of these 2 points before there is  any significant breakout or breakdown.
For the moment  we have a setup for almost a Kicker Bullish setup but the 3rd red candle that was put in on Friday doesn’t make this a perfect pattern.
kickercandles
If on Monday we follow the Kicker setup, we might have a move to higher highs (above 1080).
The setup is not exactly a Kicker but it fits the bill very well.  If $SPX closes below 1042 for 2 or more days then next support is 1030 which would be the defining moment of this “Bull Market”.

Here is the attached Daily and Hourly chart  (Click to Enlarge)

spx-92709-box

Look for an update by next weekend if the setup plays out.

-K

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Is the end (of this prolonged rally) Finally Here?

Posted by Investing Freak on August 20, 2009
Market Analysis / Comments Off on Is the end (of this prolonged rally) Finally Here?

Whether you have been a bull or a bear since March you have to be worried about what will happen from here.
Bulls might lose if market goes down and corrects itself, Bears might keep losing money being short (unless they hedge then they are neutral players).

Here is a chart of the S&P futures that I found interesting how it topped around 3:31Pm at exactly the first Pivot Resistance (R1) or 1007.75.  It’s been downhill from there so far.

Have we finally reached the top?

Have we finally reached the turning Point? (Click to Enlarge)

As I write this the ticker is heading towards 997.75 which is the first support for Friday.
UPDATE: WE HAVE HIT the first support line of 997.75 and might bounce or crash through.

Update #2: here I am 8 hours later and the futures have made a 360 degree turn. They now hit R1 (red line) of 1011.25.

es-topped-82009-2

What do you think? I am also long the Volatility Index (VIX) Via September 40 calls (got long today) because I think we are entering volatile markets again and that would be great.

-K

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Interesting S&P 500 Chart using Fib Retracements.

Posted by Investing Freak on February 09, 2009
Market Analysis / Comments Off on Interesting S&P 500 Chart using Fib Retracements.

I have gotten carried away lately with life so this blog hasn’t received the tender caring love.
Tonight I bring you a chart I have been watching since mid January.

There is support of 818 and 804 on the S&P 500 and resistance at 890.  I will add to my short positions at 890 or if we test our supports I will watch closely as I think third time is a charm for a breakdown.

Without further delay here is the (in)famous chart.  Click to Enlarge

spx-fib-retracement-feb9-2009

 

Hope you like it.
-K

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