
Published: 5 months ago
Size: 103.3MB
We discussed the downtrend channel for the DOW and SPX yesterday. Today started off very nice and bullish but at about 1:00 PM the market began selling off with out any major news. The sell-off also occurred as these two indexes approached the top of that channel and resistance. With not much news tomorrow (FOMC minutes released @ 2:00 pm), we'll see if more profit taking occurs.

Published: 5 months ago
Size: 220.3MB
The market had a nice move up this week. The major portion of the push up occurred on Tuesday. We had a sideways move since then on lighter volume which by definition is bullish. Please keep in mind what we have been saying here. We are short term bullish but still long term bearish. In the video you will see we are still below the downtrend line started in October of last year. The past two weeks pushed us up to the top portion of that channel. Let's see what will be the catalyst to push us higher or lower.

Published: 5 months ago
Size: 32.7MB
It's the weekend baby. We had a good week. The major indexes are setting up nice rising 3 candle patterns. Tomorrow, however, we have major market moving news with Jobs Data. Nonfarm payroll is expected to be weak, but how weak is too weak. We'll find out in the morning.

Published: 5 months ago
Size: 120.8MB
We mentioned yesterday that we expected a consolidation day. For the most part, that is what we have. Now, it's time to see if the bulls will stand up and move the market higher on many classic rising 3 patterns or will the bears step back in and push us back below the 50 XMA. Remember, we have good RIMM Earnings from after the close yesterday and Bernanke and other CEOs testifying today about the BSC debacle.

Published: 5 months ago
Size: 119.2MB
What a great day we had yesterday. The biggest point gain for the DOW on the first day of the quarter. Remember that for the past couple of weeks, the big up days have been followed by down days. Protect your profits and cash is a position.