Market Technical Analysis – Wall Street Watches Closely, Markets Flat After Wild Morning
Monday, April 5th, 2010
InTheMoneyStocks.com breaks out the key technical analysis techniques they have become famous for. They analyze the charts on the market to showcase their technical trend line analysis, price, pattern and time values. By utilizing these methods and not using the common technical tools which almost never work anymore, they are able to call every major and minor market move avoiding Wall Street hype. InTheMoneyStocks.com looks at major support and resistance levels on the charts telling their viewers where the market will rise and fall. They talk about major rules that must be learned. Enjoy and come get their premium daily, month, weekly and intra day expert guidance on the markets, gold, oil, us$ and stocks in their premium nightly videos, daily market reports, pro trader watch list, hidden gems and technical tactics. All included in the Research Centher for just $49.99/month. Best value and guidance on Wall Street by those that avoid the Wall Street hype! RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.
Duration : 0:5:43
Join us from the American Angus Association for Cattlenetwork.com’s weekly cattle market report by USDA’s Corbitt Wall. Visit www.cattlenetwork.com or www.angus.org
Join us from the American Angus Association for Cattle Network’s weekly cattle market report by USDA’s Corbitt Wall. Visit www.cattlenetwork.com or www.angus.org
Today was the last day of the month and quarter, and therefore it held quite a bit of significance. While most people expected a nice rally due to the window dressing theory, we ended up getting a strong sell off on bad news followed by bulls buying the dips. My theory is that today is probably going to be the last time the bulls will buy the dip. More specifically, if tomorrow’s jobs numbers shoves the markets down, we will not see the bulls buy back in, the bulls that bought today will be trapped and probably sell in panic. For me to be a full on bear though, I have to see a break of the 1035-1040 buffer zone. We also look at the monthly candle and how it closed below the 20 SMA monthly as resistance. Last time we hit the 20 SMA monthly we fell significantly lower. In addition i talk about shorting a basket of individual stocks VS the SPY: WYNN, LVS, SBUX, AMZN, AAPL, GYMB.
Today we look at the USO and UNG and try to decipher where they are headed and what possible trades could be on the table. We believe that the USO is the reason why the S&P remains up while other stocks have potentially topped already.
Today we look at some fibonacci targets for the markets. SPY has a target of between 109.10 and 109.70 whereas gold has already hit it’s target at around 104. I believe that in the very very near term, we will see GLD under perform SPY due to ti’s overbought status. We went ahead and placed a short gold and long SPY trade today. Short GLD at $104.40, and a Long SPY at $107.40. Our stop is a net credit of 0.25 cents for now, and will widen. We also look at JPM as we have to see financials get stronger in order for the market to push on ahead. Rememeber that we are in options expiration so today could be a crazy day, but if we break the SPY 50 SMA daily to the down side, and breakdown the wedge be VERY careful, this market is very susceptible to a crash.