Stock Market Snapshot as of Sep 14, 2010

SPY is sitting just below resistance after a big move the last 2 weeks.
A move above resistance may send the shorts for cover.



In the meantime, TLT has bounced off resistance and seems to be heading higher, which is not a good sign for stocks.



Trade idea for tomorrow:
If SPY moves above today's high and TLT shows some weakness, go long SPY with a stop below today's low.
Inversely if SPY trades below today's low while TLT is moving higher, short SPY with a stop above today's high .

Stock Market Snapshot as of May 21, 2009

All major indices have just made a lower high and are now sitting very close to the previous lows.
If they are able to print a lower low, this might be a good opportunity to try a trade on the short side. I am watching the following levels:

S&P 500 - 878


Russell 2000 - 470


Nasdaq 100 - 1339


Any break below those levels could be a good entry point.
I would place a stop above the previous higher high and size my position accordingly.

Stock Market Snapshot as of Oct 10, 2008

"Markets in free fall" was a common headline this past week.
The S&P 500 is now down about 40% since October 2007.
It is difficult to stay on the sideline and not go bottom fishing.
Once the panic selling will be over, once everyone who must capitulate will have done so, then the short sellers will start covering, the buyers will start buying, and the bottom will be in. Until then I will try to wait patiently on the sideline.

Stock Market Snapshot as of Jun 08, 2008

Of the 3 markets that I trade, the S&P 500 is the first one to get a new trendline as it makes a lower low. The 200-ema has been acting somewhat as resistance. This chart looks very bearish to me.


The Nasdaq 100 just broke its trendline. But this chart is still fairly bullish, with the 50-ema just above the 200-ema.


The trendline is still intact for the Russell 2000. But for how long?


We could be at the start of a new correction in the markets after the decent rally that we have experienced since mid-March. As always, time will tell.

Stock Market Snapshot as of Jan 13, 2008

After a retracement in December that touched the trendline, the S&P 500 has restarted its downtrend, making a lower low on Jan 8th. The 50-ema has now moved below the 200-ema.


The Nasdaq 100 has been showing a lot of weakness in the beginning of 2008. The 50-ema is still above the 200-ema, but both have turned south.


The Russell 2000 has also made a lower low. It is still the weakest of the bunch.

Stock Market Snapshot as of Nov 17, 2007

The S&P 500 is in a downtrend since Oct 10th. It is below its 200-day SMA which acted as resistance on Nov 14th.


The Nasdaq 100 is faring a little bit better, sitting between its 50-day and 200-day SMAs. The 200-day SMA could act as support again as it did in August.


The Russell 2000 has been the weakest of the bunch for a while now, failing to beat the July highs in October. It is below the 50-day SMA which itself is below the 200-day SMA.