Friday’s Support, Resistance, and Trade Signals.
2008-03-28 06:35:04
My pivot for today is the 1333-1337 area. Above this, my close-range targets are 1339.50 and 1343 with my longer-range targets being 1349, 1354 and 1359. Below the pivot, my close-range targets are 1329 and 1327 with my longer-range targets being 1320.50, 1316 and 1308. Some support and resistance levels for today are 1297-1300, 1312-1315, 1344 (minor), 1351.50-1357 (heavy volume traded here),
Read more: Friday
, Support
, Resistance
, Trade
, Signals
Emini Support Resistance and Trade Levels
2008-04-01 00:19:35
If the minor support level at/around 1313-1316 can hold today, a rally to 1335-1337 could be likely. The market should see a small sell response the first time it gets here, however if this level is broken the 1348-1351 area should offer good resistance. If the minor support level does not hold a test of 1305 or even 1296 is possible. My pivot for today is the1319- 1323 area. Above the
Read more: Support
, Resistance
, Trade
Will Market Breakout of Consolidation Zone This Week?
2008-03-31 07:12:01
Last week the market attempted to breakout above the key level at 1350. This move failed and subsequently the market was unable to find any buyers at key support areas. A slew of negative news last week, added to the market’s decline. If the market continues lower this week it should find support at/near the 1293-1297 area (possibly as far down as 1289), the 1270-1275 area and the 1255-1260 area.
Read more: Market
, Breakout
, Consolidation
MARKET AWAITS UNEMPLOYMENT NUMBER
2008-04-04 06:35:32
Even with the small break of Wednesday’s low, yesterdays blog remains intact with the market consolidating again on Thursday. Today’s unemployment number should be the deciding factor on which way we will go today. A positive number could take us higher to test the resistance at/near the 1390 and 1400 levels while a negative number could take the market as far down as the 1340-1345 area. My
Market Consolidates Near the Highs
2008-04-03 06:45:52
The market traded in a narrow range yesterday and seemed to consolidate near the highs. This type of activity is typical of a market that may still move higher. If we were unable to find buyers at yesterdays high today and in turn sell through yesterdays low the upside potential would be greatly diminished. However, as long as we can stay above the 1345-1350 area the market could remain positive.
Read more: Market
HUGE RALLY IN MARKET YESTERDAY
2008-04-02 07:13:27
Buying yesterday was non-stop from the open and was done on heavy volume. The market finally saw some sellers enter very late in the day at/near 1370. This area could see more selling the next time we get here, but I would look more towards the 1390 and 1400 areas for stronger resistance. Yesterday’s rally was nice, however we still need to break out of this trading range, which would mean a
Still Looking For A Breakout From Consolidation
2008-04-07 22:27:33
Action today was very similar to that of Friday’s and the market has consolidated for its fourth straight day with just a small probe up to the resistance at/near 1390. The last 2-3 blogs information is still intact so I’m not going to rewrite it but instead have you reread them however, after seeing today’s test of the 1390 area and the market’s reaction afterwards, this supply level maybe more
Read more: Breakout
, Consolidation
Three-Day Consolidation Near The Highs
2008-04-06 21:58:58
Last week the market formed a three-day consolidation pattern up near its highs, trading around the 1385 area for the high and the 1357 area for the low. I’ll be looking for a break of one of these levels this week. We’ve got a pretty weak week ahead of us, speaking in terms of economic data, with the big standout being the FOMC minutes release on Tuesday.
My pivot for today is the1371-1375 area.
Read more: Consolidation
, Three
Support, Resistance, and Trade Levels For Wednesday
2008-04-09 06:33:55
My pivot for today is the1367-1369 area. Above the pivot, my close range targets are 1370 and 1371.75 with my longer-range targets being 1375, 1378 and 1383. Below the pivot, my close range targets are 1366 and 1364 with my longer-range targets being 1359, 1356, and 1349. Some support and resistance levels are 1340-1345, 1355-1357, 1361-1363, 1371-1373, and 1381-1384.
Read more: Support
, Resistance
, Trade
, Wednesday
Earnings Should Lead the Way
2008-04-10 23:07:08
General Electric earnings report will be released Friday, before the open, and should set the tone for the day’s trading. Depending on how the earnings season progresses, this will determine if there will be another test of the highs.
My pivot for today is the1360-1363 area. Above the pivot, my close range targets are 1366 and 1368 with my longer-range targets being1375, 1379, and 1383. Below the
Read more: Earnings
Earnings Should Lead the Way
2008-04-10 23:04:45
General Electric earnings report will be released Friday, before the open, and should set the tone for the day’s trading. Depending on how the earnings season progresses, this will determine if there will be another test of the highs.
My pivot for today is the1360-1363 area. Above the pivot, my close range targets are 1366 and 1368 with my longer-range targets being1375, 1379, and 1383. Below the
Read more: Earnings
Trade Levels For Thursday
2008-04-10 06:46:43
With the lack of selling pressure near the close yesterday, the market was able to move up off its lows. This type of action suggests a possibility that the market may rally up to resistance at/near 1371. Being that earnings season is now underway, this should have considerable impact on the market’s direction over the next couple of weeks.
My pivot for today is the1361-1363 area. Above the
Read more: Trade
, Thursday
Trade Levels For Thursday
2008-04-10 06:45:11
With the lack of selling pressure near the close yesterday, the market was able to move up off its lows. This type of action suggests a possibility that the market may rally up to resistance at/near 1371. Being that earnings season is now underway, this should have considerable impact on the market’s direction over the next couple of weeks.
My pivot for today is the1361-1363 area. Above the
Read more: Trade
, Thursday
Trade Levels For Tuesday
2008-04-15 06:32:23
My pivot for today is the1329.50-1331.50 area. Above the pivot, my close range targets are 1333 and 1335 with my longer-range targets being1337, 1340, and 1344. Below the pivot, my close range targets are 1327.50 and 1326 with my longer-range targets being 1323, 1320, and 1317. Some support and resistance levels are 1305-1307, 1309-1312, 1320 area (small), 1339-1341 (small), 1344-1345, and 1350-
Read more: Trade
, Tuesday
Earnings Shifts Into High This Week
2008-04-14 00:54:02
Most of the companies that have reported earnings so far have delivered disappointing reports and as a result, there has been a negative tone in the market of late. With several major financial institutions reporting this week, the possibility of the market seeing a major rally may be slim especially if their reports continue to follow last week’s pattern. A break down to the key support level at
Read more: Earnings
Market Finds Equilibrium, Looking For Bias To Form
2008-04-15 23:35:06
Wednesday could have the makings for a highly volatile trading day with several key companies releasing earnings, good economic data, and a couple of Fed speakers. Prior to the open JP Morgan Chase, Wells Fargo, Abbott Labs, and Coca Cola will report their earnings while EBay and IBM will release theirs after the close. At 7:30 AM CT, the market will be focused on March’s CPI report and Housing
Read more: Market
Thursdays Support and Resistance and Trade Levels
2008-04-17 06:26:31
My pivot for today is the1359-1361 area. Above the pivot, my close range targets are 1363 and 1365 with my longer-range targets being1369, 1372, and 1376. Below the pivot, my close range targets are 1357 and 1354 with my longer-range targets being 1351, 1348, and 1345. Some support and resistance levels are 1325-1328, 1337-1339, 1345-1348, 1352-1353 (small), 1382-1385, and 1390 area and 1397-1400.
Read more: Thursdays
, Support
, Resistance
, Trade
Earnings Reports Moving The Markets
2008-04-18 06:40:13
If earnings keep coming in favorably then, there is high probability that the 1400 area will be tested again. There are several good blocks of supply between 1400 and 1425, this area represents the upper end of the trading range and is likely to contain an advance. If earnings miss and we selloff look for yesterday’s low (1353-1358) for support.
My pivot for today is the1367-1369 area. Above the
Read more: Earnings
, Moving
, Markets
Monday’s Support, Resistance, and Trade Levels
2008-04-21 06:44:29
My pivot for today is the1385-1388 area. Above the pivot, my close range targets are 1391.25 and 1392.50 with my longer-range targets being1395, 1399, and 1405. Below the pivot, my close range targets are 1383 and 1381.50 with my longer-range targets being 1377, 1373, and 1370. Some support and resistance levels are 1359-1361, 1369-1372, 1393-1395 (small), 1400 area, and 1407-1409.
Read more: Monday
, Support
, Resistance
, Trade
Two-Day Consolidation
2008-04-21 23:17:39
The market has traded for its second straight day in a consolidation pattern up near its highs. It has closed at/near 1388 on both days, which leaves the market in a neutral position and unless earnings miss Tuesday, the market is in a good position to retest the 1400 level. Positive earnings could help push the market through this level and start heading for the next major resistance area at/
Read more: Consolidation
Trade Levels for Thursday April 24, 2008
2008-04-23 22:28:37
My pivot for today is the1378-1381 area. Above the pivot, my close range targets are 1383 and 1384 with my longer-range targets being1388, 1391, and 1395. Below the pivot, my close range targets are 1376.50 and 1374 with my longer-range targets being 1372, 1369, and 1365. Some support and resistance levels are 1359-1361, 1365 area (small), 1369-1371, (key level between bullish/bearish) 1389-1391,
Read more: Trade
, Thursday
, April
Trade Levels For Thursday
2008-04-23 06:24:12
My pivot for today is the1379-1382 area. Above the pivot, my close range targets are 1384 and 1386.25 with my longer-range targets being 1389, 1393, and 1397. Below the pivot, my close range targets are 1377.50 and 1375 with my longer-range targets being 1372, 1369, and 1365. Some support and resistance levels are 1359-1361, 1365 area (small), 1369-1371, 1389-1391, and 1398-1401.
Read more: Trade
, Thursday
Friday’s Support, Resistance, and Trading Signals
2008-04-24 23:19:05
My pivot for today is the1384-1386 area. Above the pivot, my close range targets are 1388.50 and 1390 with my longer-range targets being1393, 1397, and 1400.50. Below the pivot, my close range targets are 1382.75 and 1381 with my longer-range targets being 1377, 1375, and 1372. Some support and resistance levels are 1359-1361, 1365 area (small), 1369-1371, 1381-1383 (small), 1398-1401, and 1407
Read more: Friday
, Support
, Resistance
, Trading
, Signals
A Plethora of Market Moving News Scheduled This Week
2008-04-27 23:34:37
We have a big week ahead of us with a slew of earnings reports, an FOMC meeting, and the April jobs report on Friday. This week it is quite possible that the market will breakout above the 1400 area and if we see continuation a rally to the next key resistance level at/near 1420-1425 is possible. I will be paying close attention to how the market reacts here, as it is the bottom of the next
Read more: Market
, Moving
Market Trades in Narrow Range Monday
2008-04-29 06:56:23
On Monday
, when the market was trading near its highs, there was no sign of strong buying interest and the volume associated with the break out was low. Basically, trading was flat at the highs and we had some trouble moving higher throughout the day. This doesn’t count out a move higher but does make the high (1403-1405) a small resistance level. We sold off late in the day and closed neutral.
Read more: Market
, Narrow
, Range
FOMC Announcement Today
2008-04-30 07:31:09
The market expects a .25 point cut today and anything less will probably cause mayhem. Trading should be relatively quiet prior to the FOMC announcement and highly volatile after. Two major levels to watch today are the 1420 and 1370 areas.
My pivot for today is the1390-1393 area. Above the pivot, my close range targets are 1394.50 and 1395.50 with my longer-range targets being1399, 1404, and
Read more: Announcement
, Today
Possibility For More Range bound Trading Lies Ahead
2008-05-01 07:30:05
With yesterday closing at/near the low along with the selling pressure into the close, this sets up a possibility for a test of support around the 1370 area.
My pivot for today is the1391-1393 area. Above the pivot, my close range targets are 1394.50 and 1396 with my longer-range targets being1399, 1403, and 1407. Below the pivot, my close range targets are 1389 and 1387 with my longer-range
Read more: Range
, Trading
Unemployment Friday, High Volatility
2008-05-02 06:31:57
My pivot for today is the 1402-1405 area. Above the pivot, my close range targets are 1407 and 1408.50 with my longer-range targets being1412, 1416, and 1419. Below the pivot, my close range targets are 1400.50 and 1397.75 with my longer-range targets being 1393, 1389, and 1385. Some support and resistance levels are 1369-1372, 1381-1383, 1393-1394(small), 1415-1417(small), 1422-1425 and 1430 area
Read more: Unemployment
, Friday
, Volatility
Slow Week Ahead On The Economic Events Calender
2008-05-05 07:28:41
Not much going on this week in the way of economic events and on the earnings front there will be just a few companies of interest reporting. The market has managed to rally back up to the 50% retracement area of the lat big move down. A rally to the .618 retracement level at/near the 1450-1455 area is possible this week. For today, keep an eye on the market’s reaction around the 1403-1406 area
Read more: Economic
Monday Trades In A Narrow Range
2008-05-05 23:00:13
A breakout below 1403 and back into the prior trading range under 1400 could indicate a rejection of the move up to the 1425 area. This leaves open the possibility for a test of support at/near 1393 or the 1381 area. On the opposite side, a rally above the 1410-1411 area could lead to a test of Monday
’s high or a challenge of the 1423 area. This would also suggest that buying interest has not
Read more: Narrow
, Range
|
Recommend Site To A Friend
