USO near 200 EMA could hit and reverse, but the 4 wk ema crossed the 10 so look for a good move in the next two weeks

DOW looking for a break up or down here

Very close to the weekly downtrend line at 1,100, look at 2002 for that 1st test then at it's down trend

We'll see how it goes today, but not even the 15 min SPX chart is confirming this new high open. 60 Min below

Solid open to new highs on INTC JPM earnings reports

Gloomy fund investors

By Mark Hulbert, MarketWatch

ANNANDALE, Va. (MarketWatch) -- Mutual fund investor behavior just gets curiouser and curiouser, as Alice in Wonderland might say.

From the stock market's low in March through the end of this past August, as I noted in a column a month ago, mutual fund investors invested virtually no new money in the stock market. This suggested that there remained a high level of skepticism about that rally and, from a contrarian point of view, that skepticism was bullish. ( Read my September 18 column.)

Just as contrarians anticipated, the stock market turned in a strong performance during September.

Read More

Closed red, however Intel beats on AH ER... Market should open at new highs in the AM

Narrow range today.............

Earnings Schedule this week

Read

20 yr IBM wkly chart...within $1.00 of all time high

Weak open, SPX needs to hold 1060 ish. Question, is the Gov't done supporting the market?

USO trend breakout 4 wk ema crossed 10 week ema. Look at UCO

1072 on SPX holds new closing high at 1076

No big Econ reports till Wednesday...Bank ER start then as well, Option Exp Friday

Econ Reports this week: Read

SPX Weekly check, EMA 4 at 1062 10 EMA at 1037, RSI NOT confirming this level so far, keep in mind it's only Monday

OBV new alltime high last week

SPX up .6% to 1079 ... truth or dare for the direction here through the end of the year

MA/DFS, ENER/FSLR pair trades going counter trend here this morning

SPX up 4.6% on the week... weekly having problems if we sell off next week but holding above the 4 wk EMA for trend traders

Prophet.net trigger plays today..damn

Click Here

Weak breath but they are trying to get over 1070 anyway with an hour to go

Obama wins the Nobel Peace Prize (WTF?!?!?!) BHO is like the Teachers Pet we had in High School

WASHINGTON (AP) - A beaming President Barack Obama said Friday he was both honored and humbled to win the Nobel Peace Prize and would accept it as a "call to action" to work with other nations to solve the world's most pressing problems.

Obama told reporters in the White House Rose Garden that he wasn't sure he had done enough to earn the award, or deserved to be in the company of the "transformative figures" who had won it before him.

SPX moving narrow range today for a Friday. Next Friday is Option Exp

20 Yr Treas off 4% from recent run...what a hair cut, rates moving up this week

MA DFS possible trend change update

Pair trades I am looking at

FSLR:ENER
APPL:IBM
UAUA:LCC
GLD:UUP
USO:UNG
IWM:DIA
DOW:AA
GE:BAC
RIMM:APPL
XLE:XLF
GLD:SLV

All righty, back. Recap: 1020 held and ramped to 1070 this week. Trying for new highs this AM. Daily RSI looks terrible if we do.

No Bounce, orderly sell off -2% SPX -3% IWM, if we get a big dip at the open, could be a play long. Trouble is there is one exit door.

Trying to bounce

I am traveling next week so posts will be few, but I see two things that might happen SPX wise. This is a bear trap and we snap back to new highs

next week, in which case I am going all in short as this could be a blow off top. OR, we trend down to 975 - 950 where a test of the 200 EMA and price support is if we break 1025.

Anyway, see you all week after next.

At 1038 we have a channel line then an EMA at 1010 for support levels

SPX 2nd visit to the lower wedge line...got an RSI sell today but at around 50 , turns happen

Not so good reports = SPX -1.5% 1040 getting tested

Oil up 1% and Dollar green. If Oil turns down we should get a good sell off.

Long DFS short MA is the winning trade now... a freaking wild one...looking for a trend change

Markets's a traders market last few days/weeks, red close Oil up big, dollar down. Wedge pattern is coming to an end here in the next week or so,

Bulls may have eaten to much:
My view is this market is a ticking time bomb, ready to go off anytime now

Still waiting for a breakout of this pattern, should be powerful whichever way it goes

Market reversal...setup on the 60 min SPX chart

RSI buy sig on USO up 3% on falling dollar?

Holding just above the 20 dy EMA on this 60 min chart... break below 1040 busts the up wedge and next test would be below 1000

We are also just below the 5 week EMA at around 1050ish

Market wedgie coming up, and 1040 test which may or may not hold

Sleepy Market today...basically Unch all around.

TLT 6 % from a new bull market in TBonds (or up 20% since June)

SPX weak after the morning pop to 1070...retest 1040 today

SPX up Bonds up Dollar up Oil up...that's different, SPX close 1063 on try for new highs. XLF strong up 3.3%

Retrace to 1064, looks strong but still a retrace till proven otherwise

1062 is res area and possible reversal level to watch for

Bounce off 1040 EMA support with Markets up 1.5%. Stockcharts.com is down so I'll post when it's back up.