AlphaTrends

S&P 500 Levels & Analysis for 7/29/10

alphatrends — Wed, 28 Jul 2010 23:39:53 +0000

On Wednesday, the SPY broke below 111.00 and interrupted the pattern of higher highs and higher lows we had observed since the 110 level was taken out on Friday. The market settled in right at the rising 5 DMA and it will now have to make it back up above 111.45 before we can expect upside momentum to redevelop. I don’t think that traders have a real advantage to be leaning heavily long or short right now. If the 110 level holds as support, we will have greater conviction that the short term weakness was just a pullback in a developing downtrend. If 110 fails to act as support our attention will shift to the weekly timeframe which still shows a pattern of lower highs and lower lows.

Stock Trading Ideas for 7/29/10

alphatrends — Wed, 28 Jul 2010 22:27:13 +0000

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Stock Market Video Analysis 7/28/10

alphatrends — Wed, 28 Jul 2010 20:59:10 +0000

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Midday Video Analysis 7/28/10

alphatrends — Wed, 28 Jul 2010 15:49:32 +0000

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S&P 500 Levels & Analysis for 7/28/10

alphatrends — Tue, 27 Jul 2010 22:34:00 +0000

After breaking past 110 on Friday, the SPY has shown a steady pattern of higher highs and higher lows, a break below ~111.00 (also Wednesdays S1 level) would turn the pattern to lower highs and lower lows. A short term break of support would not be a big concern with a rising 5 DMA and a more significant potential support level at 110, but it would be reason to become more defensive. That defensive posture would also be prudent because the market has been closing right at the 200 day (black line on inset chart) moving average and the 50% retracement of the high to low range for the year (also on inset chart). If the market can hold up in this area it could be setting up for a test of the 113 level which is the basis of the lower high on the weekly timeframe (not shown). Right now there are a lot of stocks holding up well and that suggests that the market will be able to hold its ground, but as we have seen over the last several weeks, we need to be willing to be flexible with our opinion.

Stock Trading Ideas for 7/28/10

alphatrends — Tue, 27 Jul 2010 22:28:29 +0000

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Stock Market Video Analysis 7/27/10

alphatrends — Tue, 27 Jul 2010 20:19:27 +0000

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Midday Video Analysis 7/27/10

alphatrends — Tue, 27 Jul 2010 15:54:24 +0000

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Webinar Recording & Trade Ideas for 7/27/10

alphatrends — Tue, 27 Jul 2010 01:59:30 +0000

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S&P 500 Video Analysis 7/26/10

alphatrends — Mon, 26 Jul 2010 21:12:50 +0000

Short video of the action in the SPY as well as a look at XLF and SMH.