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

• Posted by: alphatrends, July 28th, 2010 at 7:39 pm
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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.

Tickers: $SPY

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

• Posted by: alphatrends, July 27th, 2010 at 6:34 pm
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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.

S&P 500 Video Analysis 7/26/10

• Posted by: alphatrends, July 26th, 2010 at 5:12 pm
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Short video of the action in the SPY as well as a look at XLF and SMH.

Tickers: $SPY, SMH, XLF

S&P 500 Levels for 7/26/10

• Posted by: alphatrends, July 25th, 2010 at 10:21 pm
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Scroll down 2 posts to see video commentary about the market.

Alphatrends & SMB Capital Trading Class

• Posted by: alphatrends, July 25th, 2010 at 9:35 am
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Next Saturday (July 31) I will be teaching a trading class with my friends: Mike Bellafiore (author of the just released and excellent book One Good Trade , Steve Spencer and Gilbert Mendez (G-Man) of SMB Capital The full day class will be be held at the SMB headquarters in NYC.

You will learn the strategies we use to trade each day as well as the techniques we use to find the highest potential trades each day. We will also discuss the psychology of successful trading and risk management. Take advantage of our combined 50+ years of successful trading and bring your questions because we intend to answer every one of them.

Here is the site with more details about the day as well as the Registration Page The cost of the full day 8:30 – 5:30 is $800 for the first 15 attendees and after 15 people, the price is $1000, there are still a few spots left, so be sure not to delay in signing up!

Here is the itinerary for the day.

Stock Market Analysis 7/23/10

• Posted by: alphatrends, July 23rd, 2010 at 5:10 pm
• Comments: 0

S&P 500 7/22/10

• Posted by: alphatrends, July 21st, 2010 at 10:17 pm
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See the video in the post below for more in depth analysis of the SPY for Thursday.

Stock Market Video Analysis 7/21/10

• Posted by: alphatrends, July 21st, 2010 at 4:41 pm
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Tickers: $SPY, GLD, QQQQ, XLF

S&P 500 Levels & Analysis 7/21/10

• Posted by: alphatrends, July 21st, 2010 at 7:43 am
• Comments: 0

The SPY found aggressive buyers on the gap lower Tuesday morning and the market closed right at the highs of the day.  The short term pattern of lower highs and lower lows was broken and the market also made it back above the 5 DMA.  In order to have confidence in a follow through, we will look for support at 108.00 and more importantly, 107.55  The bigger level of resistance is found at 110, which is the location of the 50 DMA.  A push past 110 would break the pattern of lower highs and lower lows on the daily timeframe and could set the stage for a more powerful rally to develop.

S&P 500 Video Analysis 7/19/10

• Posted by: alphatrends, July 19th, 2010 at 6:16 pm
• Comments: 0