Posts Tagged ‘IWM’

• Key Levels Tested and Breaking
  alphatrends, November 17th, 2011 at 12:56 pm

  The scenario fo a quick drip through support and then bounce in the $XLF seems to be a lost cause for now as weakness has persisted and that group is stuck under prior support of 1280 and the 50 day moving average (not shown on chart) at 12.65.

  $SPY is now testing lows from the beginning of the month and the location of the volume weighted average price (VWAP) since the October low.  Trying to pick a turn point is difficult and most people are best of sidelined if you havent participated in the weakenss.

  $QQQ gives us reason for further concern as the important support at 56.00 has been violated as has the 50 day moving average at 56.15.  The Qs will have to get back above 56 at a minimum before longs can be trusted.

  $SMH is testing key support at 3050 with a 50 DMA just below at 30.36

  

• Financial Stocks Still Reason for Concern
  alphatrends, November 16th, 2011 at 12:39 pm

  Almost as soon as I hit send on yesterday’s post of the updated charts below, the market rallied nicely.  Today we are back to choppy trading in nearly the same spot.  The $XLF remains the primary concern as it appears to have made another lower high above the critical 12.80 level.  If the XLF downtrend line is taken out and the recent lower high is exceeded it could lead to a squeeze, dont’ get complacent in either direction here.

  Action in $SPY $QQQ $IWM is more neutral as the market awaits some kind of catalyst, what will it be?  Until we have a resolution it seems best to continue with a cautious stance and the light volume suggests that is the consensus.  Which brings up the the thought that when everyone is waiting for something to happen and it seems boring, that is often the time to be most alert.

  

• Stuck in Ranges
  alphatrends, November 15th, 2011 at 12:00 pm

  Trading volume is very light once again and markets are stuck in ranges above key support levels.  The blue horizontal lines represent the volume weighted average price from the October low through current prices.

  You can see the $XLF has struggled with that level the most, but prices remain above that level which is also critical horizontal support ~12.80  Breaking below 1280 and staying below would likely cause weakness in the broader market.  If however we get a break below and quick recovery it could be the catalyst for a squeeze.  Stay on your toes, anything can happen here.

  

• Key Levels Still Hold
  alphatrends, November 14th, 2011 at 4:25 pm

  The $SPY continues to battle with the 200 day moving average and the year to date positive column. As long as the key levels outlined in the video below hold we will be cautiously optimistic over the intermediate term.

  

• Stock Market Video Analysis 10/31/11
  alphatrends, October 31st, 2011 at 4:30 pm

  Markets finished with losses on the last day of the month and it put the $SPY back into the losing column YTD, but the monthly numbers were still very bullish. See the video below for key levels going forward.

  

• Stock Market Video Analysis 10/10/11
  alphatrends, October 10th, 2011 at 4:21 pm

  Officially, we still have a pattern of lower highs and lower lows for the major indexes, but the ranges are so large that it is difficult to keep a long or short bias for more than a week or so at a time. Even a week is seeming longer term in this market as the intraday volatility has been quite explosive. The video below looks at trends and key levelss in $SPY $QQQ $IWM $XLF $SMH $IYR

  

• Stock Market Video Analysis 10/7/11
  alphatrends, October 7th, 2011 at 5:19 pm

  It was another wildly volatile week for equities and despite some large gains, the indexes remain in downtrends. See the video for analysis of trends and key levels for $SPY $QQQ $WIM $XLF $SHM

  

• Stock Market Video Analysis 10/3/11
  alphatrends, October 3rd, 2011 at 4:33 pm

  The pressure had been building to the downside and today it gave way as the selling became more aggressive. The Russell 2000 $IWM has been leading to the downside and it was most heavily damaged today. The $SPY also finished at a new low for the year on a closing and intraday basis, there is no evidence that this market is ready to turn back higher, it remains “guilty until proven innocent.”

  
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  Stock Market Video Analysis 9/30/11
  alphatrends, September 30th, 2011 at 4:51 pm

  It was a tough month for equities and the charts look like a bigger selloff may be coming soon. It is tough to see how the markets can turn around from here but an open mind is always necessary to ensure longevity in this business.

  

  
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  Stock Market Video Analysis 9/29/11
  alphatrends, September 29th, 2011 at 5:16 pm

  Maybe the $QQQ is beginning to catch up to the weakness of the $SPY? The video takes a look at trends of major markets and takes a closer look at what may be ahead.