Blog Archives

sp500 Resting with 3 Doji Candlesticks

The sp500 during the last 3 trading days has printed three doji candlestick formations.  For now I suspect that these three dojis are just a simple pause in the up trend.  There has so far been now hard down reaction after any one of these dojis. I have seen several

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Posted in Index Trading, SP500
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Several Indices do Small Bearish Engulfing Today

Today several indices did a small bearish engulfing candlestick formation today.  The nasdaq composite and the SPY did, but other indices including the sp500 did not.  This small bearish engulfing needs to be confirmed tomorrow with a close under today’s low for example on the SPY to show it is

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Posted in Index Trading, SP500
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sp500 Could Surprise to the Upside Again Next Week

The sp500 might surprise to the upside again next week and one very big part of the reason may be end of quarter and end of month window dressing.  There are four trading days left in the month next week and four trading days left in the quarter next week. 

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Posted in Index Trading, Market Timing, SP500
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sp500 Broadening Wedge Still Forming

The Broadening wedge formation in the sp500 is still filling out its formation and in general I am viewing this as an eventual bearish resolution type pattern with the outside potential of it turning into a very bearish cascade type decline resolution. Rising Broadening wedges are a very frustrating type

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Posted in Index Trading, SP500, Technical Analysis
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sp500 Confirms Channel Support Today

The sp500 today initiated a massive rally off of the lower boundary of the long term channel support in force since early September 2010.  I have to view this as confirmation that the bullish trend is healthy and alive. I indicated in yesterday’s post that the bears really had to

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Posted in Index Trading, SP500
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Bears Need to Step up to the Plate Tomorrow

The sp500 today did not follow through on yesterday’s power down candlestick.  Instead we witnessed a type of stoppage action and the volume also dried up considerably compared to yesterday’s SPY ETF Volume. The sp500 is still trading within the somewhat large broadening wedge formation and continues to trade within

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Posted in Index Trading, SP500
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sp500 Decline is For Real This Time

The sp500 today was rejected very severely at the 78.6 Fibonacci retracement level almost to the exact tick.  Also notably today we bearishly engulfed the previous two days price action and closed right at the lows.  Sometimes this type of action is ending action, but in this case it looks

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Posted in Index Trading, SP500
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sp500 Closes Above Key Fibonacci Level

Today the sp500 closed above the key 61.8% retracement level that under normal bearish circumstances would be seen as a stopping point and reversal point for further bear market action. There is still the 78.6% retracement level that is slightly higher from current levels (about 1334), but so far the

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Posted in Index Trading, Market Timing, SP500
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1313 May be a Lucky Number on the sp500

The sp500 today took some more measureable ‘hits’ than we are used to seeing.  There may be a case to be made however that the lows are in once again and that today’s decline was yet another case of ‘bear bait’. The NYSE summation index ticked down today but is

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Posted in Index Trading, Market Timing, SP500
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Stock Market at Possible Ideal Juncture for 10 Percent Correction

The stock market indices including the Nasdaq Composite, sp500 and Dow Jones Industrial Average may all be at ideal junctures for the initiation of an approximate five to ten percent correction. Here at BestOnlineTrades I did a previous forward looking type posting that speculated on the initiation of a correction

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Posted in Index Trading, Market Timing
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