SPX Ranges for Monday (God Help Us!)

SPX closed near the low of the day -2.4% and down 5% on the week.

Maybe the Gov't will Change and start nationalizing the bad banks before we print 6000 Dow.

XLF actually up on the week though FWIW 2% with a RSI buy signal on the weekly (fingers X).

DOW stks up over 2% today IBM MO WMT and CAT... opened down 230, closed - 119, it could have been a lot worse.

SPX Breaks 741 again could test today's lows

SPX 741 holds again!..wow RSI perks up here

DOW 20 Year Weekly Update

Clearly into "AIR" territory to 6400 - 6600 support ( 1980's uptrend support )

Toyota Storing Unsold Cars On Cargo Ships

Toyota Storing Unsold Cars On Cargo Ships
Joe Weisenthal|Feb. 27, 2009, 9:49 AM|4
Tags: Economy, Energy, Cars

Due to the contango in the oil market, some investors ahve been buying oil, locking in higher prices for sale next year, and storing it on ships. Given all the unused capacity -- trade is way down -- there are plenty of cheap boats out there for the using.

Here's another use: Unsold car storage. Toyota's gots tons of excess inventory and now has plans to store up to 12,500 units on boats in Sweden.

This kind of use is another reason why the pickup in the Baltic Dry Index -- a measure of ship day rates -- may not actually reflect any increased trade.

What else can we store on ships this way? Toxic debt?

(via Angry Bear)

SPX 744 at 1:00

Triangle set up...testing lower part now

SPX bounce holding 741 area

C Preferreds up 50 to 80% today

That's where the real $$ being made today. Bailout also good for C Bond traders...and common get crushed again -32% 1.69 off 1.50 lows

DOW Trans breaks 2500 and bounces - Bottom possible IYT ETF

NAZ goes Green

SPX 745 bounce from 734.52 low

DOW -240 at the lows SPX below 741

SPX 15 min
WOW, C and BAC crushed but XLF holding above the weeks lows...if we don't crash we could see a bottom today or monday. Need to see how they trade 'em today.

DOW 20 Year Weekly...Only thing we can do is watch for the RSI to turn up if you are looking for a long trade in the DIA

Almost forgot to let you know Obama has ass raped Health care today

Down 5%.. nasty chart breakdown, BUT worth checking in on now and then for a bottom watch

SPX Ranges for Friday

742 - 741 old low near 753 Close... We are short term oversold so it maybe worth waiting if we gap down Friday to get short again....I would love to see a Down 200 to 300 open to get long the TNA.

USO up 5% today.. I wonder if Oil could push the Market off the Cliff if it has made a bottom here

USO Daily

XLF still green at 8.05 support

If you thought you missed the SPX 742 "double bottom" you may have another entry point coming up soon

Tight stops as usual

Dow Transports -1.3% new 52 week lows today...USO up 5.3%

IBM up 4% (a favorite PPT stock) XLF up 5% , XLE up 3%

All helping to hold the market here at 768 on the SPX, NAZ is down 4 points however

SPX holding on....

Consumer confidence inched – barely – to its best of the year

2009 High
Nearly Half Say Their Personal Finances are in Good Shape
Analysis by Patrick Moynihan
Feb. 24, 2009



Consumer confidence inched – barely – to its best of the year this week, boosted by improved ratings of personal finances. But it's by no means out of troubled territory.

The ABC News Consumer Comfort Index stands at -48 on its scale of +100 to -100, up 5 points in two weeks, moving slowly off the mat since hitting its record low, -54, Jan. 25. Although still mired near its worst, the CCI's gain is its biggest since September, lifting it to its best in two months.



The boost is fueled primarily by slightly better views of personal finances: Forty-nine percent say theirs are in good shape, up 5 points in two weeks – matching their largest two-week increase since December 2007. Nonetheless, majorities have rated their own finances negatively for 31 weeks straight, surpassed only by a 40-week run in 1992-93.

XLF Tired up almost 30% in 3 days

SPX trend line needs to hold here 767 now

SPX at 11:44

XLE and XLF leaders...getting sell sig's on SPX short term

USO at Trend line Up 10% from 23, 25.70 now

SPX up open but stalled at 772

USO +4% XLF +4% extended, both where previous res on RSI has seen a reversal.

SPX Ranges for Thursday

15 Min
Daily

Overbought at the end of the day and they sold it off...SPX 764 Down 8 pts or 1%

A wild freaking day disappointing some bottom callers... Looking at the RSI, unless we go up huge for the rest of the week, I think it wants to put in a lower low. I am waiting for a buy and hold with a bottom position in TNA just like everyone else. Thought we had it when the RSI's on XLF and SPX turned up but NO it finished down on the day. Still Financial have had a great run even today look at C BAC JPM MF ect, all up over 10% earlier today. If your trading FAS or FAZ is where it's at. If you have not figured out my charts yet, just try to go long on low STO and low RSI's and or non confirming PPS RSI's and opposite for sell's or short side trades.

USO held up closing at plus 6% While the Transports, off the lows closed at new 52 week lows down 4% today.

XLF with 30 min to go

Above the range...SPX up 5 points

USO up 7% UCO up 12%

XLF has a gap from 8.80 to 8.40 to fill

XLF 1:55, SPX down 3

XLF Update for FAS and FAZ traders

$SML small caps are down 4% today

Not new 52 week lows....watch for the RSI to turn and you got yourself a TNA trade

USO up 5%...Daily still looking good

DOW Transports hit new 52 week lows Down 5%

DAILY
20 YEAR WEEKLY
There's a trade here somewhere IYT is the Long ETF

SPX reverses

SPX 10:10 critical support now

SPX Ranges for Wednesday - Dream Day for FAS up 27%

A rally is a rally, IDK what kind yet

ALL ETF RSI turned up today....a sign I look for BUT I like to see long tails on reversal bottoms...I don't see many. This is more of a bullish engulfing that didn't quite get up enough to be called that technically. Hey, it's still a rally and possible double bottom on the SPX (Triple if you go back to 2003)

SPX at upper channel 771

Some Updates

Dow Trans up 4%, USO up 4.5%, XLF up 9.2%,

UCO up 8%, FAS up 23% (should be up ~30%) , ERX up 12%

GM up 21% BAC up 16% C up 9% HD up 9% AXP off 52 week low here up 9%

Bernanke Calls "recession" over this Year... (RIGHT!?!)

In his semiannual report to the Senate Banking Committee, Bernanke predicted the economy is likely to keep contracting in the first six months of 2009. But he also said "there is a reasonable prospect" the recession will end this year. He warned that a recovery will require getting credit and financial markets to operate normally.

While Bernanke's assessment of the economy helped ease some pressure on the market, it also came after days of heavy selling that left the Dow Jones industrial average and the Standard & Poor's 500 index near 12-year lows, so a bounce in stocks wasn't a surprise. Stocks made cheaper by the selloff attracted bargain-hunting traders. Also, some, better-than-expected quarterly numbers from Home Depot Inc. helped cool some anxiety about the economy.

SPX 2:30 nice run here to 769 XLF up 9%

getting too hot here...if we can close up here without a huge reversal today, I think we've got a couple of nice bullish days ahead of us