Market

Today I look at some overbought conditions both on the RSI and MACD, and explain the significance in these embedded environments as we hit some extremely strong necktie resistances between two huge trendlines. While the 38.2% are very close, and people expect us to hit it, I believe the first push lower of either a reversal or consolidation might start as soon as early or late monday and will continue for more than one day. In this video I also look at the inverse H&S on the Dow and S&P that broke out and explain what the ramifications may be for a very strong red week. I also look at GS, AAPL, AMZN.

Duration : 0:11:0

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In todays market report Asian technology shares were up, cheered by Wall Street and strong earnings from U.S. peers.

Regional benchmarks mostly were flat to lower, but chip-related shares like Tokyo Electron gained after a bullish outlook from flash memory maker SanDisk.

Korean chipmakers like Samsung Electronics and Hynix Semiconductor rose, while in Taiwan PC-makers gained on Dell’s record quarterly net profit.

On the downside, Japanese automakers dipped on the stronger yen, despite news that General Motors would recall 1.3 million vehicles to fix a power steering problem

GM said the recall, coming in the wake of Toyota’s massive 8 million vehicle action, covers cars linked to 14 crashes and one injury.

Australia’s central bank hiked its cash rate by 25 basis points, flagging further hikes ahead after a strong economic recovery.

Duration : 0:1:4

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Today we step back and look at the last 3 days of trading as they have broken both the ascending wedge formation and the megaphone formation to the downside (both are very bearish patterns).

My guess is that we could have started a shorter-term and potentially a longer term top. I outline the channel that people should be eying and the type of trades that we should be looking at. I also look at our 2 short trades that have been working out nicely

Duration : 0:5:1

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Hey guys,
I have compiled a 3 part long video that not only talks about the SPY to its full extent but also about 8 different charts and how we’re suppose to read into this type of market. In this video I concentrate on the SPY. For the SPY I look at a potential move lower in early trading only to reverse and end up a little higher. I do believe that the H&S will eventually break but this might take another 4-5 days. I look at potential targets for the SPY as we move lower and where I believe shorting would be most desirable.

Duration : 0:9:43

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http://tinyurl.com/ChomskyCD
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http://representativepress.blogspot.com/2008/09/truth-about-wall-street-bailout.html
Presidential candidate Ralph Nader (subscribe to the Nader channel http://www.youtube.com/subscription_center?add_user=votenader08 ) has a good video about the wall street bailout, I’ll play you a short clip and also a clip of Chomsky talking about capitalism in the real world .

Nader is right, the bailout is yet another example of socialism for the rich which has been the game that’s always been played.

I recommend this CD of Noam Chomsky talking at Harvard in 96.
Chomsky explains that the free market theory sold to the public is just a fantasy. He shows how in the real world, different rules apply to the rich. the rich make sure they have the nanny state to take care of themselves. We are being played for fools. Let’s get the word out. Send this link to others: http://Tinyurl.com/BailoutTruth
http://representativepress.blogspot.com/2008/09/truth-about-wall-street-bailout.html

Duration : 0:4:4

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More: http://linktv.org/globalpulse
(August 23, 2007) The collapse of the subprime mortgage market in the United States has led to stock market drops across the world. See the effect those investments have had on the European and Asian markets, reminding if of how connected we are in the global economy. But not just Wall Street is feeling the Squeeze; Main Street America is feeling the credit crunch as millions of Americans lose their homes or are unable to find loans even with excellent credit.
For more programs: http://www.linktv.org/originalseries

Duration : 0:4:20

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Today I look only at the SPY and VIX chart, but I forecast two potential scenarios in the market, that both lead to a higher (lower volume) ending day (0.5-1%) for tuesdays trade. The first is a small gap higher due to the amateurish action that happened in the last 20 minutes of trading and then a sustained low volume increase until the end of the day, potentially forming a doji green candle. The second is a continued sell off lower to hit the 88.20 level in which we will reverse mid day and end the day potentially flat or slightly positive. I hope you take my words of advice that I put out on this video because it is extremely important in order to become a good trader!

Duration : 0:10:20

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Friday’s trading day was a game changer, the last hour rally was not one of just a short squeeze before a weekend but one that showed that we are now trading in a triangle formation and we could potentially break to the upside. I, However, suggest people play the triangle formation before getting all that bullish. The reason i have more inclination to the bullish side is because a triangle formation after a rally is usually looked upon as consolidation and the next move is usually a breakout to the upside, once that happens the market can shoot to the 1030-1040, and that will probably be the end of Primary wave 2, before a new bear market begins.

Duration : 0:4:58

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Today I update my fellow viewers on what the last 2 days of action really mean for this market. The DOJI candle that formed today on incredible low day could be viewed as two things: The first, is that it is a consolidation pattern for the huge move up that we had on Thursday. The second is that it is an indecision reversal candle. i would believe the former only if we get another day of consolidation down on low volume. However, I believe the latter because there are a lot of resistance which points could point to a move lower. We formed a double top area at 922 on the SPX, and this could actually be the top of the right shoulder. As we form the Head and Shoulders formation, other resistances such as the 923 level, descending channel, 20 SMA Daily lie overhead and could provide a strong push lower. Monday’s action could be one of a fakeout, we might get a rally in early trading to hit those resistances and then fall down from there to at least down 1.5%. If we fall down on low volume though, I will look to position myself long. My other advice is to not get too bullish before the 923-924 is broken. And also to take profits at the 880 level if it is reached at any point next week. We could very well break 880 but i think taking some profits off there is important and essential. I look at the SPY, AAPL, GS and VIX

Have a great weekend!

Duration : 0:7:46

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Here is what I think might be happening in the near future!

Duration : 0:5:1

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