Let’s take a look at the possible trading opportunities that presented themselves in the SPY (S&P 500 ETF) intraday chart today with the interesting price action. SPY 5-minute chart: You would have thought the bears would have mauled the stock market indexes when you woke up to read the headline “Inflation jumps the most in 14 years and is twice what was expected!” and yes...
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Swamped at work today, so this will be a quick one. I'll be using the daily chart.notice the following:-- The uptrend that started in mid-July is still intact.-- The 10 and 20 day SMA are still rising-- The 10 day SMA is higher than the 20 day SMA-- The 10 day SMA is approaching the 50 day SMA-- Prices are still around the 50 day SMA level. That's a crucial hurdle for the market to overcome if ...
I'm going to use the daily chart today in order to clear out the noise of the day to day chart.Notice the following:-- Prices are still in the uptrend that started on July 15-- The 10 and th 20 day SMA are moving higher-- The 10 day SMA is higher than the 20 day SMA-- Prices are running into resistance at the 50 day SMA. If they move over this level look for some upside running in the market.Ho...
As I noted in the member only Trade Report two days ago, I took an early entry short position in SPY (via short ETF SDS)based on the idea that a failed breakout could lead to big gains, while continued up move would stop me out for only a small loss. Today we got the breach of the 50 day moving average (as of 11:45 ET). The next key level is the long breakout bar posted 4 days ago. If that
If U.S. equities badly trailed international stock markets over the last ten years then it’s quite possible the opposite might be true over the next several years. This is especially the case if the dollar can stabilize from current levels and continue to mount a modest rally. Increasingly, it appears U.S. stocks are trying to muster a bear market bottom this summer. Yesterday’s decline, spurre...
NCDEX to launch coal futures in SeptEconomic Times,India- 28 minutes ago13 Aug, 2008, 1633 hrs IST, PTI NEW DELHI: National Commodity and Derivative Exchange on Wednesday said it will launch futures trading in thermal coal next … Written by "futures trading" - Google News and Powered by WordPress
The SPY pulled back to its breakout point today and found a few buyers at the close. Nevertheless, our scans today found very few reasonable long set ups. Generally when we find so few long set ups the market is projecting another negative upcoming session. On Friday the SPY broke its trading range so we could arguably say the near term trend has moved from a sideways trend to an uptrend. Yet, ...
The market has been in a rally for the last week, so now's a good time to take a look at the longer minute charts to see what they look like.So far we've had two upswings followed by sell-offs. The first occurred from the beginning of last Tuesday to the beginning of last Friday. The second occurred from the beginning of last Friday to today's close. Notice the importance of Fibonacci patterns ...
NSE gets SEBI’s nod for currency futures tradingHindu Business Line,India- 1 hour ago12 Capital markets’ regulator SEBI has given the nod to NSE to offer currency futures trading. “Today we have received in principle approval from SEBI for … Written by "futures trading" - Google News and Powered by WordPress
Consumer prices in France ease, but Europe's central bankers are spying other creatures lurking in the shadows.