3/11/09

SPX Ranges for Thursday - Rally Paused today



XLF gap open reversed but added another 3.5% (check your charts...not a good sign based upon the last few XLF gap reversal days). XLE closed down under 41, XLV XLU XLP all Red.

USO down 5.4% to 26.33, looking for 25 ish to renter long. 1st set of higher highs and higher lows on USO since, like, LAST year! Who knows, it looks bullish on more pullback, but not below 23.40 (last low).

Transports is still a great bottom play so far and strong today up 2% for a 10% total run so far (IYT)

$XAL over 14 as I am still watching that double bottom to hold at around 12.50 (FAA is the ETF but has low vol)

Bank rallies have failed us before so be nimble ( C is acting like a pinksheet stock lately - dump and dump for sure)

Fake breakout near close - Failed

SPX one Hour to go - little setup here for TNA

XLE next to Crash? needs to get back over 41 IMO

Transports up 3% leading - Up 10% off lows

SPX Working off Oversold Technicals - Buy Dip target 700 to 715

SPX 732 pop


adding to dips way later if this cools off. XLF up 4% FAS +12%

3/10/09

720 Close nice 6.4% day


15 Min
SPX 60 Min Close on the Downtrend line
SPX Daily
FAS up 39% on plus a5% XLF, Transports Up 7.2% giving IYT up 6.7%, USO down 3% (more down till add the dip) TNA up 22% on $SML plus 7%

My target for SPX is 833 now (685 stop)

40 Min to go 711 again on the SPX

Estimators Picks !


I know the market is having a great day, but look at how some of his picks are doing today! ISLE +19% RPT +23% SONS +11% ICTG +10% SONS +12%....ie 20% Sharpshooters...nice Estimator

Pullback Guess - 707 to 695

SPX 711 near resistance



DOW up 330...wonder if it can go up 1,000 today?

Very good potential Monday was a tradable bottom



Really cooked on the 15 min chart now up over 4% on the SPX, IYT up over 5%, XLF screaming plus 10% 2x and 3x on fire..... if you want in, buy dips. So we have a plus 4% SPX on it's way to up 25% maybe. Need to really make sure this doesn't reverse to negate my RSI weekly signal, but it looks ok with 5 hours to go

3/9/09

SPX Closes Down 1% - Hey, No New Low Today! SPX Ranges For Tuesday


SPX 15 min
SPX Weekly
Transports Weekly!!!!!
USO is up 25% from the lows and is on a Buy the dip status. Transports new low, RSI not confirming, watching for a IYT Trade ($DJT has gone from 5500 to 2150 - wow). $SML new low today, watching for a TNA trade. XLF a leader today, no new low, hummm! FAS watch.

SPX weekly looks like a reverse head and shoulders (head forming?) is developing. Could be a huge island reversal if SPX gets a pounding again this week.

Kinda waiting for a C or BAC complete takedown or AIG or GE blow up to get a panic sell to set up for a long trade. Otherwise 6300 ish is still a DOW (20 lol) support target.

NOPE - DOW Halted, Deal Called Off - Spooking the Market


XLK wants to break $13 here down 4.2%..TECH is being rotated to the trash bin

SPX 2:50 - Bull Flag? Break the trend line and maybe we can run to the close

XLK Weak - 12.94 is the 52 week low, 13.28 now down 2.7% - 10.92 is the 2002 Low BTW



13.80 was the sell trigger. It may or may not get support at the 52 week low...something to watch for.

Pull back Done?...needs to hold and move up from here SPX +3 here

SPX Green 687 - Stretched here..Could be a nice Upside setup on any pullback..waching STO and RSI here

USO above 28 trigger UCO is the trade.. Buy any dips today or later...kinda too hot right here at $28.74