In The Land Of The Blind... at Blocks.com

Thursday October 8, 2009 - Keep An Eye On 1075

Thursday, October 08, 2009 7:22 PM ETFs Fibonacci Retracements Support/Resistance

Haven't been blogging for a few weeks (you've noticed?) - things with the market have been kind of dull - meandering in a range in the mid 1000's and I've had some other things going on including a long needed vacay....Anyway - 2 very quick things:1) the latest S&P intraday high to watch for is 1080 with the highest close at 1071.66. Both numbers are suspiciously close to the magic 61.8% retracement of the Oct 2002-Oct 2007 Bull Market. The level didn't really serve as support on the way down More...

Futures Watch - Friday September 18, 2009 - Quadruple Witching Day

Friday, September 18, 2009 8:29 AM S&P support level Fibonacci Retracements

The S&P hit 1074 yesterday before stalling and closing at 1065.49. Futures were down in the overnight and have since risen back up to yesterday's closing level, indicating a flat to slightly higher opening. Today is a big options expiration day ("Quadruple witching") so the possibility exists that the price action today could be quite volitile - keep the seatbelts handy.I want to revisist something I wrote last week - that once the S&P moved past the 1044 area resistance, that things would be More...

Futures Watch - Thursday September 17, 2009 - Who Let the Bulls Out?

Thursday, September 17, 2009 8:54 AM Financial ETFs ETFs Volume

The S&P broke out in a major way yesterday, and closed at a new 2009 high of 1068.76 - which was also the high for the day (very bullish - on up volume this implies that demand was satiated and could resume pushing prices up again today). The overnights were down slightly, which implies a flat to slightly lower open. However, the market during the past two weeks has shaken off early bear strength at the open to consistently move up - so I'm not discounting that today could end up being an up More...

Futures Watch - Wednesday September 16, 2009 - Unambiguously UP

Wednesday, September 16, 2009 8:29 AM S&P support level Moving Averages Volume MACD-H Support/Resistance

The S&P closed yesterday at a new 2009 high of 1052.63 - which is roughly where the futures are now. Since the futures had declined after the close yesterday, and have since shown a steady uptrend in the overnight, I would expect things to point to higher open this morning.Surprisingly I have little to say about where we are right now. The last serious resistance line that I can see for awhile at 1044 has been breached, and theoretically could mean smooth sailing for the next 50-60 points upw More...

Thursday September 10, 2009 - S&P Out of the 1030s - Resistance at 1044

Thursday, September 10, 2009 3:34 PM S&P support level Moving Averages Historical Charts Fibonacci Retracements Support/Resistance

For the past few weeks the S&P 500 has been bouncing around in a trading zone between 1014 and 1039. The problem facing the bulls is that even ovecoming the upper boundary of that zone, there is one last piece of resistance ("piece of resistance" - HA!) immediately facing it at 1044 - the top of the very first reaction bounce after the waterfall plunge began in earnest in September.Here's a little blast from the not-so-pleasant past (unless one was in FAZ like I was - in which case it was ple More...

Futures Watch: Thursday September 10, 2009 - Bulls Celebrate 6 Month Anniversary With a New High

Thursday, September 10, 2009 8:37 AM S&P support level MACD-H Fibonacci Retracements Support/Resistance

Yesterday amid all the 090909 hoopla I forgot to note that it was also the 6 month anniversary of the March uptrend - the lowest close of the big decline - 676 - was touched on March 9 (my birthday, btw) - and it's been up up & away ever since.Yesterday, the market came back at the very end of the day , boosting the S&P to 1033.37 at the close - a new closing high for 2009 - but still stuck in the current zone below 1039. For all the attempts that the S&P has tried to get past this range, this More...

090909 - S&P Stalls Again in the Mid 1030's

Wednesday, September 09, 2009 3:18 PM S&P support level Support/Resistance

S&P 500 - 30 Min Chart - 14 Days I was saying something earlier this morning about deja vu all over again and just as it did a couple of weeks ago at the end of August, the S&P lost steam in the mid-1030s (1036.34 to be exact) and quickly dropped back below the 1030 line. This is the 6th time that that has happened - and the bulls aren't going to get things going until they break through this zone.I drew a horizontal red line on the chart showing the high point today. As you can see, the S&P More...

Futures Watch - Wednesday September 9, 2009 - Deja Vu All Over Again

Wednesday, September 09, 2009 7:56 AM Futures Watch Volume Fibonacci Retracements Support/Resistance

Today is 09/09/09. Happens once ever 100 years - savor it. Nine is one of my lucky numbers - and it's happening 3 times (which is my other lucky number) - so you'd think that today will be an awesome day. Hopefully it will be :-)In the few days bracketing Labor Day weekend, the S&P made it through the Valley of Death and made it past the 1014 resistance line pretty easily. Now it is in that trading zone between 1014 and the 1039 high in which it occupied most of August. S&P 500 - 15 Min Cha More...

Friday September 4, 2009 - Back Into the Valley of Death - Challenging the Fib

Friday, September 04, 2009 1:18 PM S&P support level Head And Shoulders Reversal Pattern Fibonacci Retracements

S&P500 - 15 Min Chart - 4 Days So the S&P made it down to the 992 support level, tested it twice, found support, and rebounded up into the Valley of Death (S&P 1007-1014). This afternoon it is challenging that old buggaboo at the north end of the Valley - the Fibonacci 38.2 Retracement at 1014. Remember, 1014 has served in the past as a very tough resistance level, and also as a support level. If the S&P can get through and close above this area it will be huge for the bulls going into the La More...

Futures Watch - Wednesday September 2, 2009 - RUN AWAY!!!

Wednesday, September 02, 2009 8:58 AM Financial ETFs S&P support level Head And Shoulders MACD-H Fibonacci Retracements Support/Resistance

The S&P closed yesterday at 998 and futures are down slightly this morning (this chart is a 20 min delay - as I blog, the S&P futures are a little further down at 993) - indicating a lower opening on The Street, continuing yesterday's slide.... I put up a pretty colored chart yesterday - showing the 2 trading areas that had dominated trading throughout most of the month of August. It took all of the better part of the morning on the first day September to stage a complete retreat from both of t More...

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