tag:blogger.com,1999:blog-352634742024-02-18T18:07:05.932-08:00Trader Z Swing Trading JournalPlan the trade, trade the planTraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.comBlogger975125tag:blogger.com,1999:blog-35263474.post-27817440943174639532009-10-04T09:40:00.000-07:002009-10-04T09:49:32.559-07:00$TSX-TC Update for 10.04.2009<strong></strong><br /><strong>S&P/TSX INDEX - $TSX-TC</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMoc2DaUz9Xv0lmigYsoFh-APkVH7jS9Edfa9BsES5p3v2z5Ga8bJdNDyV_swIPWJEDWqLUe8deBfW2Ri-jzlQ12Rop5qd_hQ07z4SqntpAg2R6R20T2IpHKBVh3bHVnXzmccyAw/s1600-h/$TSX-tc+Monthly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388785950684113586" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMoc2DaUz9Xv0lmigYsoFh-APkVH7jS9Edfa9BsES5p3v2z5Ga8bJdNDyV_swIPWJEDWqLUe8deBfW2Ri-jzlQ12Rop5qd_hQ07z4SqntpAg2R6R20T2IpHKBVh3bHVnXzmccyAw/s320/$TSX-tc+Monthly+100209.jpg" /></a><br />Monthly chart shows the bulls managed to take the index up for seven straight months from the March 2009 lows. The last high made was right at the 34ema resistance level. Is this just profit-taking for the next leg up, or is it time for a much deeper retracement?<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgHFusywkcpbA-pl7CS0kB8gjUooe-S3KRosLe6w-EsEj6JoHv0b9JVVDd8XKYUtSTdSUgcvJ-sI9W2ZhI_qwQDImB9Ua8TH-zyKBb5uRufyW47OqCJIDm7pp-eru468tILOnFrRg/s1600-h/$TSX-tc+Weekly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388785942068852418" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgHFusywkcpbA-pl7CS0kB8gjUooe-S3KRosLe6w-EsEj6JoHv0b9JVVDd8XKYUtSTdSUgcvJ-sI9W2ZhI_qwQDImB9Ua8TH-zyKBb5uRufyW47OqCJIDm7pp-eru468tILOnFrRg/s320/$TSX-tc+Weekly+100209.jpg" /></a><br />Weekly chart shows the last high made was made with regular divergence on the cci Momentum indicator. The whole move up off the March 2009 low was made with a three wave pattern so far. Look for potential deeper retracement based on this pattern.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZWScx2jW4RGf7TE5Z42Mx9mvlh9iU0Zchz60lsDjpjGEHMjehH_NkKkZerCmf46pkK5lQM6Et98EIIuF_MrgwmqqMZRgYOVxJ3yD1nqxwVJv_VT_Y9_7BVlBHC8CI10_EMQd1Ww/s1600-h/$TSX-tc+Daily+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388785939624658514" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZWScx2jW4RGf7TE5Z42Mx9mvlh9iU0Zchz60lsDjpjGEHMjehH_NkKkZerCmf46pkK5lQM6Et98EIIuF_MrgwmqqMZRgYOVxJ3yD1nqxwVJv_VT_Y9_7BVlBHC8CI10_EMQd1Ww/s320/$TSX-tc+Daily+100209.jpg" /></a><br /><div>Daily chart shows a sell signal in place on this timeframe, as a lower high was made on September 30, 2009. Friday's price action indicated further conviction to the downside as the bears managed to gap down the index at the open in their haste to exit their long positions. Look for continuation lower into next week as likely. IF the bulls manage to take the index back above the 11,458 level, THEN look for higher instead.</div></div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-70451065906597133672009-10-04T09:30:00.000-07:002009-10-04T09:39:11.023-07:00$RUT Update for 10.04.2009<strong>RUSSELL 2000 INDEX - $RUT</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfvO7mM2G19MAqu2RuhpFLvHpfspY2W-C68DLSz_xsClQvOjMPHtUBazX4Ho1_gvYx00vkQID_ifl9Va5kTD08C8uBMAhyQMGAJsan5mz7a7XAgFRVhJotJnrhWa5ZNzqWVH-U4g/s1600-h/$RUT+Monthly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388783454827465986" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfvO7mM2G19MAqu2RuhpFLvHpfspY2W-C68DLSz_xsClQvOjMPHtUBazX4Ho1_gvYx00vkQID_ifl9Va5kTD08C8uBMAhyQMGAJsan5mz7a7XAgFRVhJotJnrhWa5ZNzqWVH-U4g/s320/$RUT+Monthly+100209.jpg" /></a><br />Monthly chart shows backend resistance at prior high of 614 area holding as resistance once again. Coincidentally, this is also right at the 34ema and the 89sma levels.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjY0_JInKTnCtN6KAnzQazXG4VjqU8tZOc0Wd7OW8_ZjSBoozu8xc-IvZx4-swFRjxeJoEfqrXZzXoN_GgEbyGWy0G9PNGLRKhA_IbWqI44n8zJrf5t9MIK2gwIEZN_rqE9tSSMGw/s1600-h/$RUT+Weekly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388783448031938882" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjY0_JInKTnCtN6KAnzQazXG4VjqU8tZOc0Wd7OW8_ZjSBoozu8xc-IvZx4-swFRjxeJoEfqrXZzXoN_GgEbyGWy0G9PNGLRKhA_IbWqI44n8zJrf5t9MIK2gwIEZN_rqE9tSSMGw/s320/$RUT+Weekly+100209.jpg" /></a><br />Weekly chart shows the current high was made with regular divergence on the cci Momentum indicator. Look for possible deeper retracement off this current resistance high.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxS5flee0aUhmK0YStRwRetgnld4vqR4X4LMs9KH1vAwe0sUuKOpGXMlhAIpxjJ216n2P8loNXR7C_PU53aytlGqLtI4f3mIKN8WCZ8xx_AEYEizzCOdogymqYey6b-qgPbneAng/s1600-h/$RUT+Daily+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388783439844024578" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxS5flee0aUhmK0YStRwRetgnld4vqR4X4LMs9KH1vAwe0sUuKOpGXMlhAIpxjJ216n2P8loNXR7C_PU53aytlGqLtI4f3mIKN8WCZ8xx_AEYEizzCOdogymqYey6b-qgPbneAng/s320/$RUT+Daily+100209.jpg" /></a><br /><div>Daily chart shows sell signal in place on this timeframe with a lower high put in on September 29, 2009. </div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-70260445734232015152009-10-04T09:21:00.001-07:002009-10-04T09:30:53.348-07:00$NDX Update for 10.04.2009<strong>NASDAQ 100 INDEX - $NDX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGryJDEcqj2imz2GsvE716OYlgqBWrqR9HmVuqz9UwVzPeokR7jWIBJAARbQuVvEOGTfiu_LtlyD0ZDYwpl5zTjEx7cHJ88npHeYuMRja_Lti40uVL7XqVADDRdF7Z-Hw0tCqsCg/s1600-h/$NDX+Monthly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388781114047008786" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGryJDEcqj2imz2GsvE716OYlgqBWrqR9HmVuqz9UwVzPeokR7jWIBJAARbQuVvEOGTfiu_LtlyD0ZDYwpl5zTjEx7cHJ88npHeYuMRja_Lti40uVL7XqVADDRdF7Z-Hw0tCqsCg/s320/$NDX+Monthly+100209.jpg" /></a><br />Monthly chart shows the bulls managed to pull the index up above all the key moving averages on this timeframe. The low for this index was actually made in November 2008. The march low was a higher low, from where the bulls managed to retrace almost .618 of the total drop from October 2007.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3MwexrixRD9fG4Enz9H2qsISAJLr1azK4KxKJDs6TMfrwudanutFt0_K24DV0A2jkFKdAjXVB7Kzb2-hmwgSJEB2vqbqU7R3TTzBeQD2vcrNjphkxojwsQzWogFf_EQxUtygE_g/s1600-h/$NDX+Weekly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388781107673412274" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3MwexrixRD9fG4Enz9H2qsISAJLr1azK4KxKJDs6TMfrwudanutFt0_K24DV0A2jkFKdAjXVB7Kzb2-hmwgSJEB2vqbqU7R3TTzBeQD2vcrNjphkxojwsQzWogFf_EQxUtygE_g/s320/$NDX+Weekly+100209.jpg" /></a><br />Weekly chart shows the current high was made with regular divergence seen in the cci Momentum indicator. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6442ZBornRrErcDtMQ73z9GMRHdLDC03xY8jRnfrJuhWsuo5_jEA7WMVMbvbJNhPA7dPgoVBwNz90gwO-7ZhAdd2JmG0H82yJMySXBMLkvI-BdwM1Yjnax0JZz8UEWcXAp5Mh6w/s1600-h/$NDX+Daily+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388781096818787714" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6442ZBornRrErcDtMQ73z9GMRHdLDC03xY8jRnfrJuhWsuo5_jEA7WMVMbvbJNhPA7dPgoVBwNz90gwO-7ZhAdd2JmG0H82yJMySXBMLkvI-BdwM1Yjnax0JZz8UEWcXAp5Mh6w/s320/$NDX+Daily+100209.jpg" /></a></div><div>Daily chart shows a sell signal in place with a lower high made on September 28, 2009. Look for continued weakness and a possible deeper retracement to take place. </div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-41833107641510405452009-10-04T09:13:00.001-07:002009-10-04T09:20:41.370-07:00$SPX Update for 10.04.2009<strong>S&P 500 INDEX - $SPX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjz4gcvBevjR0rm5rVDl1uCinskDhTWpBvvTMj20VowGhbuBegW9iUYvLh71zx7HEYoibJQlHyr15L81aomUY_jA-NpK6uh5wCoqIXUwd7zgiH2Ry9fKnpzDztWbXVTHTmnDBegmw/s1600-h/$SPX+Monthly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388778921023376450" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjz4gcvBevjR0rm5rVDl1uCinskDhTWpBvvTMj20VowGhbuBegW9iUYvLh71zx7HEYoibJQlHyr15L81aomUY_jA-NpK6uh5wCoqIXUwd7zgiH2Ry9fKnpzDztWbXVTHTmnDBegmw/s320/$SPX+Monthly+100209.jpg" /></a><br />Monthly chart shows the bulls managed to take the index up for seven straight months. The bulls managed to find initial resistance right at the .443 fib retracement area, where initial profit-taking took place. Look to lower timeframe charts for early signal of a more significant pullback.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbpwLUPz-56QbAi0MpRj29U0LBXVX9tIJpUkESziKWelrWnZCgnlbRI0-k4as46mr8FXm9lma_AUzK-nugYg-lq8EXQKcJfRF4pFSxkikPc8ZxOYklL2Wy_CDRZe0i9eGFJC2yEw/s1600-h/$SPX+Weekly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388778911070012130" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbpwLUPz-56QbAi0MpRj29U0LBXVX9tIJpUkESziKWelrWnZCgnlbRI0-k4as46mr8FXm9lma_AUzK-nugYg-lq8EXQKcJfRF4pFSxkikPc8ZxOYklL2Wy_CDRZe0i9eGFJC2yEw/s320/$SPX+Weekly+100209.jpg" /></a><br />Weekly chart shows the whole move up into the .443 fib area resistance was made in a three wave pattern so far. The new high was made with regular divergence seen in the cci Momentum indicator. Look for possibility of bigger retracement off this current high.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiBZIIjw8d_diwBaGiTga_xfwsha98j1nevFzem8r5LiJvwUdpSDiVeWPcRq5xPFtWh83K5SK-y7CyvCJqrqoc2m_IEiO1idoYgSRZL7RrPhi3oklm4MJjQ69es4yFJOGSPXrhfA/s1600-h/$SPX+Daily+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388778907776726450" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiBZIIjw8d_diwBaGiTga_xfwsha98j1nevFzem8r5LiJvwUdpSDiVeWPcRq5xPFtWh83K5SK-y7CyvCJqrqoc2m_IEiO1idoYgSRZL7RrPhi3oklm4MJjQ69es4yFJOGSPXrhfA/s320/$SPX+Daily+100209.jpg" /></a><br /><div>Daily chart shows a sell signal with a lower high made on September 29, 2009. Look for continued signs of weakness, and possibly much deeper retracement off this level.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-50761413612980039552009-10-04T08:57:00.001-07:002009-10-04T09:21:05.277-07:00$INDU Update for 10.04.2009<strong>DOW JONES INDUSTRIAL AVERAGE INDEX - $INDU </strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2I5nHLorMLJzrVzPN87e-wWmsDlczBNMn6LID937c2QFOyDq9HkD-4tdxxcHqaFUE2dRam1gXFnLEcOrdRj0VWARXeio7bGiS3pVX41mhmDVJRXsjFdWhyphenhyphen4FB50_qXoq4a_8LwA/s1600-h/$INDU+Monthly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388775441951552162" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2I5nHLorMLJzrVzPN87e-wWmsDlczBNMn6LID937c2QFOyDq9HkD-4tdxxcHqaFUE2dRam1gXFnLEcOrdRj0VWARXeio7bGiS3pVX41mhmDVJRXsjFdWhyphenhyphen4FB50_qXoq4a_8LwA/s320/$INDU+Monthly+100209.jpg" /></a><br />Monthly chart indicates the bulls have managed to run the index straight up for seven months in a row without any signicant pullback. The index is currently above both the 8ema and the 13sma. The bulls found resistance right at the .443 fib retracement level, where initial profit-taking began to take place. Time to drill down to lower timeframes to look for sell signal as indication of a more significant pullback.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGc4htgEVRToAXr50LNQzZiAA0HZkq-0vXjHHNf894imqNiPyw1KMsEVQ2IYowZFLflSoFDZdij2e9LJt4JpWn-74F2Ib4pXpvqyWQu-MhWKm4-qPjUybkJXZkaJkGC3KpCJeOSg/s1600-h/$INDU+Weekly+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388775436562563346" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGc4htgEVRToAXr50LNQzZiAA0HZkq-0vXjHHNf894imqNiPyw1KMsEVQ2IYowZFLflSoFDZdij2e9LJt4JpWn-74F2Ib4pXpvqyWQu-MhWKm4-qPjUybkJXZkaJkGC3KpCJeOSg/s320/$INDU+Weekly+100209.jpg" /></a><br />Weekly chart shows regular divergence developing on the cci Momentum indicator. Currently we can see a three wave pattern into the .448 fib retracement level. Coincidentally, the .448 fib retracement level also happens to be right at the 89sma.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht2HHFmxv-RU20ktzJ5aylWVg1mCj5jGU7vIykAJsEMCdProU0I1l2tXrsngSUv8mIDa72QCkbACua8iamCoTYwm7g1VG_G5IVLFIu_q8kqLBc7MJpuADS-cM-36oM7WVO_Oil6g/s1600-h/$INDU+Daily+100209.jpg"><img style="WIDTH: 320px; HEIGHT: 256px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5388775422911025410" border="0" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht2HHFmxv-RU20ktzJ5aylWVg1mCj5jGU7vIykAJsEMCdProU0I1l2tXrsngSUv8mIDa72QCkbACua8iamCoTYwm7g1VG_G5IVLFIu_q8kqLBc7MJpuADS-cM-36oM7WVO_Oil6g/s320/$INDU+Daily+100209.jpg" /></a><br /><div>Daily chart shows a sell signal in place, with a lower high made on September 29, 2009, when the bears managed to take the index to a break of the up trendline in place, and below the 8ema.</div></div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-77726781230481890682009-05-17T10:20:00.001-07:002009-05-17T10:26:13.010-07:00$TSX-TC Update for 05.17.2009<strong>S&P/TSX INDEX - $TSX-TC</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF1q-sc-WSZsRZTYVuVtJo_FIgkh_rEDsHV3PI1-DbpJbWo1uFgTBCZr8FOEBbeBA8BZ7PTNRDKe0fnsnhDNeFbYKmcZPOY6v_Xr1NiWuSeE8NQa2gGX1ZMOu60SXoXJ-dEnyvGQ/s1600-h/$TSX-tc+Monthly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336844595453977858" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF1q-sc-WSZsRZTYVuVtJo_FIgkh_rEDsHV3PI1-DbpJbWo1uFgTBCZr8FOEBbeBA8BZ7PTNRDKe0fnsnhDNeFbYKmcZPOY6v_Xr1NiWuSeE8NQa2gGX1ZMOu60SXoXJ-dEnyvGQ/s320/$TSX-tc+Monthly+051509.jpg" border="0" /></a><br />Monthly chart shows the market found resistance above at the .382 fib area, where bulls took profits this month. <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyo4TGd4YpVwuSYt6FCEOm33BPazROI-9auZYeikV7FhzRU7cH8s3xVK1gcJKGFCxzPY-2sLeQZwd6sGrkdjJ7gh5yk83pU_v9W7PbYgDEbqtktX2zJRSwPPF3JhNrHVG3FnXzIA/s1600-h/$TSX-tc+Weekly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336844590354347826" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyo4TGd4YpVwuSYt6FCEOm33BPazROI-9auZYeikV7FhzRU7cH8s3xVK1gcJKGFCxzPY-2sLeQZwd6sGrkdjJ7gh5yk83pU_v9W7PbYgDEbqtktX2zJRSwPPF3JhNrHVG3FnXzIA/s320/$TSX-tc+Weekly+051509.jpg" border="0" /></a><br />Weekly chart better shows the current resistance levels encountered by the bulls. The bears managed to take back most of the gains made by the bulls the week before. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsF9IQl27uOda5-p-mTlUoIY_cyHfqnbwKVJAGp6pIe9akbTew7pEkxcqnK5cFOT_XcJ7uo-LckMGiFAJjyPbDgqbt8HgbUfrnc7vi6K0p_zoXJHMRuOc2KvjCqz8eSOkh-7fseQ/s1600-h/$TSX-tc+Daily+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336844593614608434" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsF9IQl27uOda5-p-mTlUoIY_cyHfqnbwKVJAGp6pIe9akbTew7pEkxcqnK5cFOT_XcJ7uo-LckMGiFAJjyPbDgqbt8HgbUfrnc7vi6K0p_zoXJHMRuOc2KvjCqz8eSOkh-7fseQ/s320/$TSX-tc+Daily+051509.jpg" border="0" /></a><br /><div>Daily chart shows the bears managed to take the index back below both the 8ema and the 200sma on this timeframe. Look for continued weakness and a retracement of the entire move up off the March 2009 low.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-58400241349506613622009-05-17T10:11:00.000-07:002009-05-17T10:20:24.481-07:00$RUT Update for 05.17.2009<strong>RUSSELL 2000 INDEX - $RUT</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgoIXFZRoPrDYjmrNPo8Mnl7e8ixH182vsC-nsVIMU5zcQQqmjAkxfeoWNnN543xIwOONf7gyyPhWra74i7SX_sVzkBSFX7z1i4dzoXYFLUh2k1RysnouWkICO3V_lFBdVErxn-dQ/s1600-h/$RUT+Monthly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336842004817408498" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgoIXFZRoPrDYjmrNPo8Mnl7e8ixH182vsC-nsVIMU5zcQQqmjAkxfeoWNnN543xIwOONf7gyyPhWra74i7SX_sVzkBSFX7z1i4dzoXYFLUh2k1RysnouWkICO3V_lFBdVErxn-dQ/s320/$RUT+Monthly+051509.jpg" border="0" /></a><br />Monthly chart shows the market found resistance right off the 8ema, as the bulls were unable to close above this level. Index remains below all key moving averages on this timeframe.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2xC5xxz4IF5kmxlUHOmYtp43mEYILvNFOzvjUy5YvOswY_dSaoBqjeMKEOjxXY66DFBtpiHWHOUdqLgcXXylf7L8ykm-IKAXy6K9Ps2caP7f9Cl13kmkeiQ9ljr4-aR4u6QYCLg/s1600-h/$RUT+Weekly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336842007854808626" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2xC5xxz4IF5kmxlUHOmYtp43mEYILvNFOzvjUy5YvOswY_dSaoBqjeMKEOjxXY66DFBtpiHWHOUdqLgcXXylf7L8ykm-IKAXy6K9Ps2caP7f9Cl13kmkeiQ9ljr4-aR4u6QYCLg/s320/$RUT+Weekly+051509.jpg" border="0" /></a><br />Weekly chart shows the bulls found resistance right against the 34ema on this timeframe. The bears have managed to take back most of the gains made in the prior two weeks. The market found short term support right off the 8ema. Major trader sentiment has changed, and we should see continued weakness into next couple of weeks. IN we see continued weakness, THEN look for retracement of the entire move up off the March 2009 low.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiimNHZFUprPA42-XEHKWtgZ8zE2VbZmljhXu-q142xD2g5ynU-Wfoe2g9GqcujyXuWWmcrz5j-Pr_WJ4pdvMgvi7bmTlOger8WM4U_mAuqWvwyzsoUh6SyVN-EjJBDL3962HS6Yg/s1600-h/$RUT+Daily+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336842006477167650" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiimNHZFUprPA42-XEHKWtgZ8zE2VbZmljhXu-q142xD2g5ynU-Wfoe2g9GqcujyXuWWmcrz5j-Pr_WJ4pdvMgvi7bmTlOger8WM4U_mAuqWvwyzsoUh6SyVN-EjJBDL3962HS6Yg/s320/$RUT+Daily+051509.jpg" border="0" /></a><br /><div>Daily chart shows the bears have managed to take the index back below the 8ema and the down trendline in place. The bulls managed to find short term support off the 34ema, but with continued weakness, look for this to break as the market retraces the entire move up off the March 2009 low.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-18390404647055947482009-05-17T09:59:00.000-07:002009-05-17T10:11:38.561-07:00$NDX Update for 05.17.2009<strong>NASDAQ 100 INDEX - $NDX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMN312r-g7cjm7ggX_9NHST3a8euSImtnABoUJ8lj3dAsD8vfpP5t9VcZzoG-PPbDQV1vyxfRNm5Y0Th7aDeBr3QexrbBZedM6KUu4fU15cREYWUhvuj8G-O0aao7pPhVFB9MBKQ/s1600-h/$NDX+Monthly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336838807719537906" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMN312r-g7cjm7ggX_9NHST3a8euSImtnABoUJ8lj3dAsD8vfpP5t9VcZzoG-PPbDQV1vyxfRNm5Y0Th7aDeBr3QexrbBZedM6KUu4fU15cREYWUhvuj8G-O0aao7pPhVFB9MBKQ/s320/$NDX+Monthly+051509.jpg" border="0" /></a><br />Monthly chart shows the bears managed to erase any gains made by the bulls at the start of the month so far. The bulls managed to find support right at the 8ema. Will they be able to hold onto it? <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbuh67fBEhyYdkyFvjtPkF490TeQnH6NkHj2eBvSkGNQqsDzl4lcg4Wmj5GChqiOUahyphenhyphenGHSd32VtDP9sjotIM-to2chKwpv7JWYMXsNCi8bxS2tUzGBiaH-05sPPW9V4UHoSmpRw/s1600-h/$NDX+Weekly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336838807301480914" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbuh67fBEhyYdkyFvjtPkF490TeQnH6NkHj2eBvSkGNQqsDzl4lcg4Wmj5GChqiOUahyphenhyphenGHSd32VtDP9sjotIM-to2chKwpv7JWYMXsNCi8bxS2tUzGBiaH-05sPPW9V4UHoSmpRw/s320/$NDX+Weekly+051509.jpg" border="0" /></a><br />Weekly chart shows second week of weakness and increasing selling pressure. Bulls found resistance right at the 54ema. Look for continued weakness and a retracement of the entire move up from the March 2009 low and possibly the November 2008 low. <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkkA8N9gRwgn3cvIiR6nf8Ub-vkKhvsFOOoNkX1xm3zdMdqlfRmecwV9amU4wbWiWWO1e2PiU_cgH4N5kmaC7RGlSTEFf1ssyF8ojy9XTBeE7b2aNBuAC_3fIvER6XGcr7gEXjLw/s1600-h/$NDX+Daily+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336838801824050178" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkkA8N9gRwgn3cvIiR6nf8Ub-vkKhvsFOOoNkX1xm3zdMdqlfRmecwV9amU4wbWiWWO1e2PiU_cgH4N5kmaC7RGlSTEFf1ssyF8ojy9XTBeE7b2aNBuAC_3fIvER6XGcr7gEXjLw/s320/$NDX+Daily+051509.jpg" border="0" /></a><br />Daily chart shows continued weakness and profit-taking right at the 1.618 fib retracement level. The bears managed to close the week with the index below 8ema and the 200sma, as well as a break below the up trendline in place. Look for continued weakness and a retracement of the entire move up from the March 2009 low and also the November 2008 low. Price action in the next week or so should better reveal whether this is a breather before the next move up, or whether the top has been put in before we head to a lower low.TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-48191577746854762042009-05-17T09:52:00.001-07:002009-05-17T09:59:11.680-07:00$SPX Update for 05.17.2009<strong>S&P 500 INDEX - $SPX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcN1RrYfp35-bMCTyo6wfnprGX6mNmQvSbzU9kIK7vCuyvkVjnFGNSyjaiZrV4j0Egc5BeAJBeelrYyk6wpdRr0YFnoSUq4CvJHAbySFtaYo2kNFTVf7V50HIJLRWFiIrkPD_29g/s1600-h/$SPX+Monthly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336837086410260450" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcN1RrYfp35-bMCTyo6wfnprGX6mNmQvSbzU9kIK7vCuyvkVjnFGNSyjaiZrV4j0Egc5BeAJBeelrYyk6wpdRr0YFnoSUq4CvJHAbySFtaYo2kNFTVf7V50HIJLRWFiIrkPD_29g/s320/$SPX+Monthly+051509.jpg" border="0" /></a><br />Monthly chart shows the bulls have been unable to take the market above the 8ema on this timeframe. Index remains below all key moving averages and the down trendline in place.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgt4fJpO8Qwnc-6-1krDOJSi3U31-VjzTFSS1LlEF2fCBEDFtgU1Qq8i80mmeMfNg1DDn4wOmChJTbqdoUu_KPheamdEtuBefRI_Wd6kjSC6yHnLlwvWa4n_Rd4gJI5JltBcfO2YA/s1600-h/$SPX+Weekly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336837085495162402" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgt4fJpO8Qwnc-6-1krDOJSi3U31-VjzTFSS1LlEF2fCBEDFtgU1Qq8i80mmeMfNg1DDn4wOmChJTbqdoUu_KPheamdEtuBefRI_Wd6kjSC6yHnLlwvWa4n_Rd4gJI5JltBcfO2YA/s320/$SPX+Weekly+051509.jpg" border="0" /></a><br />Weekly chart shows that while the index remains above the 8ema on this timeframe. the bears have managed to take back all the bulls' gains the week prior. Current short term resistance is directly above at the 34 ema. Look for continued weakness and a possible retracement of the entire move up off the March 2009 low.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigWWNy3Gz_-Hcsn8mQ7c4lt2spon8yHdqYorUeJsh9ZtUpwMdSpBKJu14pOsDgD9TQhOjfzIXJJkOz4r7ylJJzVj4lQKm7UppaYA-aJ5q-Y6aTsCmgVpcLrhBjGK5EbdcNs9TQiQ/s1600-h/$SPX+Daily+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336837084457778018" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigWWNy3Gz_-Hcsn8mQ7c4lt2spon8yHdqYorUeJsh9ZtUpwMdSpBKJu14pOsDgD9TQhOjfzIXJJkOz4r7ylJJzVj4lQKm7UppaYA-aJ5q-Y6aTsCmgVpcLrhBjGK5EbdcNs9TQiQ/s320/$SPX+Daily+051509.jpg" border="0" /></a><br /><div>Daily chart shows the bears have managed to take the index back down below its 8ema and below the up trendline in place. Look for continued weakness and a retracement of the whole move up off the March 2009 low. First downside target is the .618 fib retracement level.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-16169826853588912602009-05-17T09:43:00.000-07:002009-05-17T09:52:07.582-07:00$INDU Update for May 17, 2009<strong>DOW JONES INDUSTRIAL AVERAGE - $INDU</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhvxZk7FRJLJHCQjyF6Bv-nWuC98bgn7ESUvZ4eE3BWmACN501MiIA6EuccZGc_JU0SyTBF4EyQDeBMhDQwxKH61B-YGMy7aQnCEkKus477dela-h4C_rshu13F_VeVCquFXWZGQ/s1600-h/$INDU+Monthly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336835107922137090" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhvxZk7FRJLJHCQjyF6Bv-nWuC98bgn7ESUvZ4eE3BWmACN501MiIA6EuccZGc_JU0SyTBF4EyQDeBMhDQwxKH61B-YGMy7aQnCEkKus477dela-h4C_rshu13F_VeVCquFXWZGQ/s320/$INDU+Monthly+051509.jpg" border="0" /></a><br />Monthly chart shows the market found short term resistance right off the 8ema on this timeframe. Index currently remains below all key moving averages and also below the down trendline in place. <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgT1GP_4q2AzQlW_BuPacf_RYB8O5BOJJuhzaKNqS-WIPFQWldypX46SOMzBRGgzhoXsXIWrVBg_Q4ucIEhYz8dALVA12FQ6HfGRGhUrAiLhuzRKewskECG_tW8t6wxgQ13IyUc5A/s1600-h/$INDU+Weekly+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336835102712862146" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgT1GP_4q2AzQlW_BuPacf_RYB8O5BOJJuhzaKNqS-WIPFQWldypX46SOMzBRGgzhoXsXIWrVBg_Q4ucIEhYz8dALVA12FQ6HfGRGhUrAiLhuzRKewskECG_tW8t6wxgQ13IyUc5A/s320/$INDU+Weekly+051509.jpg" border="0" /></a><br />Weekly chart shows the bears came out in force this past week, practically erasing all the gains the bulls made the week prior. Look for possible continued weakness and a retracement of the entire move up off the March 2009 low.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPYt1Ow6Gr0C2EmPQr51BTn_jhkOlTmnvlccSiCvu1vyeVA2SJXKZlNTgMvHXdPEdEGArP5WDfyl2PaDTTx0XY2-WK2mTyjUfz7Dyqzz2uSiR4JEQEQn4mEySn7vdgiW_3U2hCtg/s1600-h/$INDU+Daily+051509.jpg"><img id="BLOGGER_PHOTO_ID_5336835106566716914" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPYt1Ow6Gr0C2EmPQr51BTn_jhkOlTmnvlccSiCvu1vyeVA2SJXKZlNTgMvHXdPEdEGArP5WDfyl2PaDTTx0XY2-WK2mTyjUfz7Dyqzz2uSiR4JEQEQn4mEySn7vdgiW_3U2hCtg/s320/$INDU+Daily+051509.jpg" border="0" /></a><br /><div>Daily chart shows the bears managed to take the index right back below the 8ema, as well as a break below the up trendline in place. Look for continued weakness and a retracement of the whole move up from the March 2009 low.</div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-2079030120852658662009-04-10T14:36:00.000-07:002009-04-10T14:54:42.828-07:00$RUT Update for 04.10.2009<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgInG7Vnh4P7XwkWIDQAk07rbiqYmJhKUVggDa6jeomTFMRJsMz4Hsiq6yltTfJEUgVAeFcLQeB17PMTrBJgMMKPG-7MgvHel_lBv3K4zGrW0OkVM7p08uE6GZwnGwRG-i2yyMFrg/s1600-h/$RUT+Monthly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323180207802335170" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgInG7Vnh4P7XwkWIDQAk07rbiqYmJhKUVggDa6jeomTFMRJsMz4Hsiq6yltTfJEUgVAeFcLQeB17PMTrBJgMMKPG-7MgvHel_lBv3K4zGrW0OkVM7p08uE6GZwnGwRG-i2yyMFrg/s320/$RUT+Monthly+041009.jpg" border="0" /></a><br />Monthly chart shows bulls aggressively stepping back into the market after the market found support off the March 2009 low.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_m9pjnUnP1pxiJ3DW2WBIK_hPrp6tGrqDSd8ojM7skxOijRv1t1EDubxDwJSixks-jDIDoasdqP2of1V9J-s5E5f6iKCXMrr4JNhXLHP6hbdH2mju8hh9RT8J-N1yVdPO_onkXg/s1600-h/$RUT+Weekly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323180211113989506" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_m9pjnUnP1pxiJ3DW2WBIK_hPrp6tGrqDSd8ojM7skxOijRv1t1EDubxDwJSixks-jDIDoasdqP2of1V9J-s5E5f6iKCXMrr4JNhXLHP6hbdH2mju8hh9RT8J-N1yVdPO_onkXg/s320/$RUT+Weekly+041009.jpg" border="0" /></a><br />Weekly chart shows the bulls continue to gather momentum as they managed to close the index above the 8ema.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnfhLjkHQKswcuZXXXxBzpBIZJjJmsiSrTA3AH0jf__zJnr8bLFokqEsUyc-9EMfGPYiX6RLes5Rp_8W4o-ZxU7mS84fLuczb1VNC97IinkVKRjSBiUeVE_Baka_6VL2vdKV2PTw/s1600-h/$RUT+Daily+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323180206670330418" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnfhLjkHQKswcuZXXXxBzpBIZJjJmsiSrTA3AH0jf__zJnr8bLFokqEsUyc-9EMfGPYiX6RLes5Rp_8W4o-ZxU7mS84fLuczb1VNC97IinkVKRjSBiUeVE_Baka_6VL2vdKV2PTw/s320/$RUT+Daily+041009.jpg" border="0" /></a><br /><div>Daily chart shows the bulls gapped up the open on Thursday's trading session open in their haste to enter their positions. The last move up into the new high was made with regular divergence on the CCI momentum indicator. Look for signs of weakness and profit-taking next week.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-7117198844476603092009-04-10T14:28:00.000-07:002009-04-10T14:36:20.510-07:00$NDX Update for 04.10.2009<strong>NASDAQ 100 INDEX - $NDX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsQnm55h3wYp40djAfhNV-8XA9if5PMQft9qUydrYP20jjkxejK-hzX2hIVgfVL-gQ2qBYRhF7u624gkuycj6I9xWe-J0XPLsUGY19fUpAIiDZkfpVRGoOKW2DfK1O2U4jjVMJPg/s1600-h/$NDX+Monthly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323178558765427858" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsQnm55h3wYp40djAfhNV-8XA9if5PMQft9qUydrYP20jjkxejK-hzX2hIVgfVL-gQ2qBYRhF7u624gkuycj6I9xWe-J0XPLsUGY19fUpAIiDZkfpVRGoOKW2DfK1O2U4jjVMJPg/s320/$NDX+Monthly+041009.jpg" border="0" /></a><br /><div></div><div>Monthly chart shows aggressive bulls stepping into the market with the low made in March 2009.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxfzftmnQs8471Kc9MO38LQgboZU70g2ydyb2mmGGsijnkeJeZvkuh7Y0H-KthAypMPK3mjvCDHFW-IV5veUPkSHdRREhtjGd85ET326Aw4yWfhrqznExrYVooz0PrkVVrdXu-1A/s1600-h/$NDX+Weekly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323178217453917554" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxfzftmnQs8471Kc9MO38LQgboZU70g2ydyb2mmGGsijnkeJeZvkuh7Y0H-KthAypMPK3mjvCDHFW-IV5veUPkSHdRREhtjGd85ET326Aw4yWfhrqznExrYVooz0PrkVVrdXu-1A/s320/$NDX+Weekly+041009.jpg" border="0" /></a><br />Weekly chart shows the bulls managed to close the index above the 8ema and the down trendline in place. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTDeOELJVqYGLrkfMTTeGyMQqpkzpoM-l5ksFF3mx33Y4olaIVd6tjm2sepOgcvSAlPvg3qyPmdVrJeD2yKRWI45ua_BIKC4DskUETTKR8826eBjR6RLiVgOD3J2x8Kbw9B7PoRQ/s1600-h/$NDX+Daily+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323178215102579538" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTDeOELJVqYGLrkfMTTeGyMQqpkzpoM-l5ksFF3mx33Y4olaIVd6tjm2sepOgcvSAlPvg3qyPmdVrJeD2yKRWI45ua_BIKC4DskUETTKR8826eBjR6RLiVgOD3J2x8Kbw9B7PoRQ/s320/$NDX+Daily+041009.jpg" border="0" /></a><br /><div>Daily chart shows that aggressive bulls gapped up the open of Thursday's trading session in their haste to enter the market. The CCI momentum indicator shows that this last move to the high was made with regular divergence. Look for signs of weakness and profit-taking into next week.</div></div></div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-6907169010678337502009-04-10T14:21:00.000-07:002009-04-10T14:28:03.539-07:00$SPX Update for 04.10.2009<strong>S&P 500 INDEX - $SPX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivdGcb3dxam0IC_IdJ1gu-JdXzCtrlLS1exU8J4FQa1gEONwNkqzC1DV44F8PdCOheI3QB1yXjrys0ruoht7yGlVBr3ECcg2JdNu_cyFKXaxcs8EYK6bK7fUvaER95lDZJNSqACA/s1600-h/$SPX+Monthly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323176236987483650" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivdGcb3dxam0IC_IdJ1gu-JdXzCtrlLS1exU8J4FQa1gEONwNkqzC1DV44F8PdCOheI3QB1yXjrys0ruoht7yGlVBr3ECcg2JdNu_cyFKXaxcs8EYK6bK7fUvaER95lDZJNSqACA/s320/$SPX+Monthly+041009.jpg" border="0" /></a><br />Monthly chart shows the March 2009 low holding and aggressive bulls stepping back into the market. <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCv02FvBHjkTwL4hPHeLA0Zad7ekEtzEO7o0SrK0sKV5WqCtANmEjoAXrwwV404Bw5SuZzsPWMjt8hLI1xkHLeqTZ2IL0s8YrM6KAz8cbxNjwBXEI-3I2hw6AVToa7gSHaQGJ_2A/s1600-h/$SPX+Weekly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323176231090862002" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCv02FvBHjkTwL4hPHeLA0Zad7ekEtzEO7o0SrK0sKV5WqCtANmEjoAXrwwV404Bw5SuZzsPWMjt8hLI1xkHLeqTZ2IL0s8YrM6KAz8cbxNjwBXEI-3I2hw6AVToa7gSHaQGJ_2A/s320/$SPX+Weekly+041009.jpg" border="0" /></a><br />Weekly chart shows the bulls continue to gather momentum as they manage to close the index above its 8ema, and the down trendline in place. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCVZUZX488NsJaD74l9DNvREIgtEYaEDUr-IKX0m49dPvh9FOHLk8AGKNbebbWqWCLLWNzpNh_5o6-pqtuKASwVivztjhj6075lh0wpKEjOiMjpFsrPsLYxia5vVITpU0klKXipA/s1600-h/$SPX+Daily+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323176228810817986" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCVZUZX488NsJaD74l9DNvREIgtEYaEDUr-IKX0m49dPvh9FOHLk8AGKNbebbWqWCLLWNzpNh_5o6-pqtuKASwVivztjhj6075lh0wpKEjOiMjpFsrPsLYxia5vVITpU0klKXipA/s320/$SPX+Daily+041009.jpg" border="0" /></a><br /><div>Daily chart shows the bulls continue to gather momentum as they managed to close the week with a higher high. The CCI moentum indicator shows regular divergence with this last move up into higher high.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-52030058738425143752009-04-10T14:14:00.001-07:002009-04-10T14:21:19.813-07:00$INDU Update for 04.10.2009<strong>DOW JONES INDUSTRIAL AVERAGE INDEX - $INDU</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiUVCiAEu0OAap0jn5ZsL6NBGtPrDaYJLMTuuBSbdmLGZB1gfasJ1f53mF8QxKmzeT4fzhoJQNg5xbSzfBn22lRiRyAjvjJqTn0HaceHDYKTsiMVwPT6nIWJ_l7SamQDq9E5F9d5A/s1600-h/$INDU+Monthly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323174671932548850" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiUVCiAEu0OAap0jn5ZsL6NBGtPrDaYJLMTuuBSbdmLGZB1gfasJ1f53mF8QxKmzeT4fzhoJQNg5xbSzfBn22lRiRyAjvjJqTn0HaceHDYKTsiMVwPT6nIWJ_l7SamQDq9E5F9d5A/s320/$INDU+Monthly+041009.jpg" border="0" /></a><br />Monthly chart shows the market found support off the March 2009 low and bulls are aggressively stepping back into the market.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYNKYgAxb9EjCtBffyn8YMxDcFKNhuE7rAGiGy52pL6v5H3qq89PGbH4Bid9cW-4GiAw55jGhyphenhyphenTN-85_cHIgYSP4A6A0ECchdrnwaXZGvGdm3ymwrtqvB_kC606GjQ1XTEgL2IhA/s1600-h/$INDU+Weekly+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323174672141839906" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYNKYgAxb9EjCtBffyn8YMxDcFKNhuE7rAGiGy52pL6v5H3qq89PGbH4Bid9cW-4GiAw55jGhyphenhyphenTN-85_cHIgYSP4A6A0ECchdrnwaXZGvGdm3ymwrtqvB_kC606GjQ1XTEgL2IhA/s320/$INDU+Weekly+041009.jpg" border="0" /></a><br />Weekly chart shows bulls continue to gather momentum as they take the index higher to close above the 8ema. <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQVfbgrbkl64b5L77pS3rDHDp218x2EhWYjqSm5aD23hBudMwiu7Tp20DxrTIgckvRlhb243VLwEA0YmEstPYOxEwoPKjEztYhVIW5sKIL6z25woyoGcEGAokI_GRmsye5oJYI9A/s1600-h/$INDU+Daily+041009.jpg"><img id="BLOGGER_PHOTO_ID_5323174669891515954" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQVfbgrbkl64b5L77pS3rDHDp218x2EhWYjqSm5aD23hBudMwiu7Tp20DxrTIgckvRlhb243VLwEA0YmEstPYOxEwoPKjEztYhVIW5sKIL6z25woyoGcEGAokI_GRmsye5oJYI9A/s320/$INDU+Daily+041009.jpg" border="0" /></a><br /><div>Daily chart shows the bulls managed to take the index higher into the .618 fib resistance area. The CCI momentum indicator shows regular divergence as the index heads higher. Look for signs of weakness and signs of profit-taking into next week.</div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-73620965104897196862009-03-29T16:20:00.001-07:002009-03-29T16:25:53.411-07:00$TSX-TC Update for 03.29.2009<strong>S&P/TSX INDEX - $TSX-TC</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsMusBbI8P_KaTo7xGXCat7VxUH_vzRFBbXFUk6wr2NGH8xdNirWXTi2g8W158J0tdCaaJzUJRUOBM91nX-gDHyLkDPNF6mOz_Hh686xJ45biWP12LYIv2n6UQG5VpVQzKPukW9Q/s1600-h/$TSX-tc+Monthly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318753922300086386" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsMusBbI8P_KaTo7xGXCat7VxUH_vzRFBbXFUk6wr2NGH8xdNirWXTi2g8W158J0tdCaaJzUJRUOBM91nX-gDHyLkDPNF6mOz_Hh686xJ45biWP12LYIv2n6UQG5VpVQzKPukW9Q/s320/$TSX-tc+Monthly+032709.jpg" border="0" /></a><br />Monthly chart shows current support holding, with bullish engulfing candle pattern about to complete this week.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6Acc4VSLrwMjGGjsB1vLyTC2DmxPoq1_DqQQrjGR_E_stG-5F36VZoI4WJ4uAFQvj0O2gsAi1_a1c3SBSaovN_46Wx8iQzKitoTMDecZcMyly_LnVBfXoHpj3VLcj7liueHnsZw/s1600-h/$TSX-tc+Weekly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318753923853656210" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6Acc4VSLrwMjGGjsB1vLyTC2DmxPoq1_DqQQrjGR_E_stG-5F36VZoI4WJ4uAFQvj0O2gsAi1_a1c3SBSaovN_46Wx8iQzKitoTMDecZcMyly_LnVBfXoHpj3VLcj7liueHnsZw/s320/$TSX-tc+Weekly+032709.jpg" border="0" /></a><br />Weekly chart shows the bulls continued to make new high last week. However, as the end of the week approached, traders took profits.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsm5YNflAkuywEH9IuvMbIpVIrz2-QmlDZU6GdvLbmiO30wTvTD01uAUN9cOFfjC7O2983zxNKqecio0qndHARcXJp0pQi0qhJar_xozj2KhXe1a-56U4SapYTLl9D1M-edWN8vA/s1600-h/$TSX-tc+Daily+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318753914875165186" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsm5YNflAkuywEH9IuvMbIpVIrz2-QmlDZU6GdvLbmiO30wTvTD01uAUN9cOFfjC7O2983zxNKqecio0qndHARcXJp0pQi0qhJar_xozj2KhXe1a-56U4SapYTLl9D1M-edWN8vA/s320/$TSX-tc+Daily+032709.jpg" border="0" /></a><br />Daily chart shows the chart is getting a little toppy at this level, and traders took profits into the close of the trading week. Look for a deeper pullback and retracement of the entire move up off the current low. <br /><br /><div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-17452115594969072702009-03-29T10:02:00.001-07:002009-03-29T10:14:35.011-07:00$RUT Update for 03.29.2009<strong>RUSSELL 2000 INDEX - $RUT</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg26RoEjlI42t9VI8mnMky8dlKDvd7M1J8Q_Rf5ZmFcRKRVOSr1KJDQLBlrn8KUUMmFhgudaH7H4gPT1X2Fzq4M4gOF4NFXIebUeBHPU7FqI2HZT8loyof0tlq1tF7XWG48hyphenhyphenlMKA/s1600-h/$RUT+Monthly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318656927052365810" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg26RoEjlI42t9VI8mnMky8dlKDvd7M1J8Q_Rf5ZmFcRKRVOSr1KJDQLBlrn8KUUMmFhgudaH7H4gPT1X2Fzq4M4gOF4NFXIebUeBHPU7FqI2HZT8loyof0tlq1tF7XWG48hyphenhyphenlMKA/s320/$RUT+Monthly+032709.jpg" border="0" /></a><br />Monthly chart shows short term support is in for now. <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMmtU64jdQLzSerd5Kt0TiwInIu5y31eaAywZK7lJAWmDuXoHQsmeBKVZD3s64FXdEbA-qkdlsECtGcEkdYPf6Mi3k3xVnd679G-X3O0ID8AwxkJV7zEpq7qJqyWKWn-oMXxvVvg/s1600-h/$RUT+Weekly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318656923796454690" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMmtU64jdQLzSerd5Kt0TiwInIu5y31eaAywZK7lJAWmDuXoHQsmeBKVZD3s64FXdEbA-qkdlsECtGcEkdYPf6Mi3k3xVnd679G-X3O0ID8AwxkJV7zEpq7qJqyWKWn-oMXxvVvg/s320/$RUT+Weekly+032709.jpg" border="0" /></a><br />Weekly chart shows the bulls continued with their aggressive buying. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu-YEGiqE7NdexMyhsZIVe6NPw6b_EUzQ8hspjw-C-dg8rain3FNeU2-yJPfGYO29lSWWFlsSNOM5_FNU3qFReCcvHwCVnsYF102vNiFuUb6OWBC8KwJn0C9XgxRWAqIlCPOFIEQ/s1600-h/$RUT+Daily+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318656915063547106" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu-YEGiqE7NdexMyhsZIVe6NPw6b_EUzQ8hspjw-C-dg8rain3FNeU2-yJPfGYO29lSWWFlsSNOM5_FNU3qFReCcvHwCVnsYF102vNiFuUb6OWBC8KwJn0C9XgxRWAqIlCPOFIEQ/s320/$RUT+Daily+032709.jpg" border="0" /></a><br /><div>Daily chart shows that aggressive sellers gapped down the market at the open of Friday's trading session in their hurry to exit their positions. Is this profit-taking or renewed selling? Look to next week's trading activity to get better clues. Market looks a little toppy in this area, and if we get a deeper pullback, THEN only go long if there is a three wave pattern evident, and a higher low made. There is a possibility that the index is stuck in a wave 4 consolidation pattern, so next week's trading session is key.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-33672025964977224192009-03-29T09:45:00.001-07:002009-03-29T10:01:19.717-07:00$NDX Update for 03.29.2009<strong>NASDAQ 100 INDEX - $NDX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjExdonBhQ4HjXqEK9oZTt2Dm9PG3Fmc4w8t2LFDVYQBJ6tWN2BKENkg-SwB6fh8rXGNrm7G5B5Jr00r3W9x0D_5qpKQSZ5UnsXufPMKTMwXhrlBbCZ_j65mYzuPyaaarBX9dZgBg/s1600-h/$NDX+Monthly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318652215360667538" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjExdonBhQ4HjXqEK9oZTt2Dm9PG3Fmc4w8t2LFDVYQBJ6tWN2BKENkg-SwB6fh8rXGNrm7G5B5Jr00r3W9x0D_5qpKQSZ5UnsXufPMKTMwXhrlBbCZ_j65mYzuPyaaarBX9dZgBg/s320/$NDX+Monthly+032709.jpg" border="0" /></a><br />Monthly chart shows that trader sentiment has changed, with the bulls definitely leading the way. Trading activity thus far March 2009 has resulted in a huge Bullish Engulfing candle pattern. Is this a bear trap? Trading over the next couple of weeks should give better clues.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbBXEhUwDWBh9ZFq1V7-oVebYDTGKQl2ntzJIlYMAIX6wZHpvXoQAj_B-HRyM3vRv1BsL0apPGbYSYXJABPbX6PIr_A41dMDVafl2WgJ4U65zozTwOJCTp1V7h18hEFWMi94xo2w/s1600-h/$NDX+Weekly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318652210370950994" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbBXEhUwDWBh9ZFq1V7-oVebYDTGKQl2ntzJIlYMAIX6wZHpvXoQAj_B-HRyM3vRv1BsL0apPGbYSYXJABPbX6PIr_A41dMDVafl2WgJ4U65zozTwOJCTp1V7h18hEFWMi94xo2w/s320/$NDX+Weekly+032709.jpg" border="0" /></a><br />Weekly chart shows that despite the impressive bullish strength this past month, the index has been stuck in a trading range since November 2008. IF this is indeed a bear market rally, THEN there should be significant resistance into 1400 to 1487 area above. However, the index needs to clear short term key LIS directly above at the 1288 level before it can go any higher.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvwMlGf_MM85lePsBNR1kH2yxnUOdkl4ip4GoAISiIpCy4DQIJai1iNjKJlCyZBJnolxflokUQTO2r2f90pqjANtE6gZHWXBlScUo5791e70tfPRxCeEy34NIvHlJVvtCg8Cy46Q/s1600-h/$NDX+Daily+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318652204567437954" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvwMlGf_MM85lePsBNR1kH2yxnUOdkl4ip4GoAISiIpCy4DQIJai1iNjKJlCyZBJnolxflokUQTO2r2f90pqjANtE6gZHWXBlScUo5791e70tfPRxCeEy34NIvHlJVvtCg8Cy46Q/s320/$NDX+Daily+032709.jpg" border="0" /></a><br /><div>Daily chart better shows the current key LIS and short term resistance at the 1288 level. Aggressive sellers gapped down the market at the open of Friday's trading session, in their hurry to take profits. IF we get follow through with selling pressure, THEN look for a retracement of the entire move up. One thing to note is that there is a possibility that the index is stuck in a wave 4 consolidation pattern.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-31245600646903594832009-03-29T09:36:00.000-07:002009-03-29T09:45:21.787-07:00$SPX Update for 03.29.2009<strong>S&P 500 INDEX - $SPX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhzcU2TzXLfC24va8ixR02kO7dd34_Ho9Rh3J8b_ioHhCQAgmgf_47Hkf1cNtZdSokrea34q1Sn9mmT6rlF3W7fPwduWrzjpga7Z5rIXU_heXWJIjjAQkewtGyo-9zR7Md16PJc-Q/s1600-h/$SPX+Monthly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318650071555397474" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhzcU2TzXLfC24va8ixR02kO7dd34_Ho9Rh3J8b_ioHhCQAgmgf_47Hkf1cNtZdSokrea34q1Sn9mmT6rlF3W7fPwduWrzjpga7Z5rIXU_heXWJIjjAQkewtGyo-9zR7Md16PJc-Q/s320/$SPX+Monthly+032709.jpg" border="0" /></a><br />Monthly chart shows short term support is in place. Aggressive buying should see the index close off March 2009 much higher than its open.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGr19vTZVaCBVv-hxtApHzgDDc4nAcpaJyeuHkHLCnrTSilIaWwGWyoWqTHQD1JsVc04pYxnzDTkVMeJKvQwtBn-LpHQit0zVo6y_c5-Ui0XuGflSReogwrJYn0vkeO59CP2kjAQ/s1600-h/$SPX+Weekly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318650066811346594" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGr19vTZVaCBVv-hxtApHzgDDc4nAcpaJyeuHkHLCnrTSilIaWwGWyoWqTHQD1JsVc04pYxnzDTkVMeJKvQwtBn-LpHQit0zVo6y_c5-Ui0XuGflSReogwrJYn0vkeO59CP2kjAQ/s320/$SPX+Weekly+032709.jpg" border="0" /></a><br />Weeky chart shows renewed buying strength into last week. IF we have 5 waves down, THEN look for a retracement of the whole wave down. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcgTwnYL8hVBQtOepoUT6hkck_cKLLwl6nF6TJ51uDF2Yl1Okp9ZLEoGHoS1kDb069xbGQVSInKETI20AlidlNOX8la5vPgPceyCnqD0IXQT5Ye6p68KnOX76fP_8GaBaHQlpDKQ/s1600-h/$SPX+Daily+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318650061564830434" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcgTwnYL8hVBQtOepoUT6hkck_cKLLwl6nF6TJ51uDF2Yl1Okp9ZLEoGHoS1kDb069xbGQVSInKETI20AlidlNOX8la5vPgPceyCnqD0IXQT5Ye6p68KnOX76fP_8GaBaHQlpDKQ/s320/$SPX+Daily+032709.jpg" border="0" /></a><br /><div>Daily chart shows Friday's trading session ended with an inside day as traders took profits. Index is looking a little toppy in this area. We should be getting some kind of retracement of the whole move up from the low. IF we get a retracement of the whole move up, THEN look for a three wave pattern to enter long.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-72479651422915664682009-03-29T09:27:00.001-07:002009-03-29T09:36:11.927-07:00$INDU Update for 03.29.2009<strong>DOW JONES INDUSTRIAL AVERAGE INDEX - $INDU</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMpVsggMCTtLqGEiW9q_wfIouK6p4pY9FOn4VMowp-XhjoqKlBsKBQPxbpcDoIR33MBaJHh4hvPdjoDlddMqj9YeYCTzE2QV2ohVpmo85H9-IF6nDurGmE75CLPhyncmOTahpxiQ/s1600-h/$INDU+Monthly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318647524639637858" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiMpVsggMCTtLqGEiW9q_wfIouK6p4pY9FOn4VMowp-XhjoqKlBsKBQPxbpcDoIR33MBaJHh4hvPdjoDlddMqj9YeYCTzE2QV2ohVpmo85H9-IF6nDurGmE75CLPhyncmOTahpxiQ/s320/$INDU+Monthly+032709.jpg" border="0" /></a><br />Monthly chart shows short term support in place. This is the first time in six months that the monthly trading session will end up higher than the open at the close.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYhU-eVyBZIDQJ6IkXRxDpt1nfG-U2FS9ebmr2GWGzd38rxplRTs2atwqolyQ9w35QLCIoQOKTHZm_FAeIhDFInL56TRpkpJRuZdAe_61DRZ3wIwmm4SiEV33ob8dWOTOaK_bYdg/s1600-h/$INDU+Weekly+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318647518535928194" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYhU-eVyBZIDQJ6IkXRxDpt1nfG-U2FS9ebmr2GWGzd38rxplRTs2atwqolyQ9w35QLCIoQOKTHZm_FAeIhDFInL56TRpkpJRuZdAe_61DRZ3wIwmm4SiEV33ob8dWOTOaK_bYdg/s320/$INDU+Weekly+032709.jpg" border="0" /></a><br />Weekly chart shows renewed buying activity last week. IF we have 5 waves down from the October 2007 high, THEN look for retracement of this whole move down. <div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhopYmiOJsuCbBZ25wr9dj7UXgnkzNeEz29S0RcKuQYRrfOM38OZPb8spXzbIM8uaMW_Jz38Rwwd0HH34R2vNlOyTvXRC7VZ4UizvKu48aIkELyY6nDgfZfybe0r6u7BH2SJedr_w/s1600-h/$INDU+Daily+032709.jpg"><img id="BLOGGER_PHOTO_ID_5318647511983684578" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhopYmiOJsuCbBZ25wr9dj7UXgnkzNeEz29S0RcKuQYRrfOM38OZPb8spXzbIM8uaMW_Jz38Rwwd0HH34R2vNlOyTvXRC7VZ4UizvKu48aIkELyY6nDgfZfybe0r6u7BH2SJedr_w/s320/$INDU+Daily+032709.jpg" border="0" /></a><br /><div>Daily chart shows Friday's trading session resulted in an inside day and profit-taking. Market is looking a little toppy in this area, and IF we get a pullback, THEN look for a three wave pattern retracement before entering any longs.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-86218706847268998052009-03-21T18:35:00.000-07:002009-03-21T18:44:18.827-07:00$TSX-TC Update for 03.21.2009<strong>S&P/TSX INDEX -$TSX-TC</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjGt8N7GWS36LBLR85Tojn704WJQJihEkTxhf2jdENAqYyECHGl9WJF7lwXLF2Qw1SUgNfXoG94Dd5royfPo0x88Tdp8dq_LeQz-Qsy0hkShG30XL7bSCA_Zrh8e8UFpTj5odPbCg/s1600-h/$TSX-tc+Monthly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315820048656726338" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjGt8N7GWS36LBLR85Tojn704WJQJihEkTxhf2jdENAqYyECHGl9WJF7lwXLF2Qw1SUgNfXoG94Dd5royfPo0x88Tdp8dq_LeQz-Qsy0hkShG30XL7bSCA_Zrh8e8UFpTj5odPbCg/s320/$TSX-tc+Monthly+032009.jpg" border="0" /></a><br />Monthly chart shows short term support holding, as aggressive bulls stepped back into the market. Index remains well below all key moving averages. No buy signal/pattern evident on this timeframe.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiI-vZCnzI33oNeHmrFCfk9BD4UTP3eqmeooEtBGkeKFpf_zoS1CYzii23-JTY8quFYBfI3tiDNXygKlajZaAltYiFUO7Zg3NjAhzMbsuIPtukIYH4Rwjf-n_kYDOCNsJzrNe9l0g/s1600-h/$TSX-tc+Weekly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315820039252605490" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiI-vZCnzI33oNeHmrFCfk9BD4UTP3eqmeooEtBGkeKFpf_zoS1CYzii23-JTY8quFYBfI3tiDNXygKlajZaAltYiFUO7Zg3NjAhzMbsuIPtukIYH4Rwjf-n_kYDOCNsJzrNe9l0g/s320/$TSX-tc+Weekly+032009.jpg" border="0" /></a><br />Weekly chart shows profit-taking into the close of last week's trading session. The bulls managed to close the index above the 8ema. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTrRwSYQUIYn2r4Y5WJYKvq2mOKTdbTznhRm3V-vu6azlvrDkKiFZ_82HpWwKRCUu7gbGx9IULV8uaJep_MV4uBui2TfIsPuQuKKTovmc379c2j0fcZoHA7k_xAPHrzMiP_19vng/s1600-h/$TSX-tc+Daily+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315820042159040722" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTrRwSYQUIYn2r4Y5WJYKvq2mOKTdbTznhRm3V-vu6azlvrDkKiFZ_82HpWwKRCUu7gbGx9IULV8uaJep_MV4uBui2TfIsPuQuKKTovmc379c2j0fcZoHA7k_xAPHrzMiP_19vng/s320/$TSX-tc+Daily+032009.jpg" border="0" /></a><br /><div>Daily chart shows the profit-taking the last two trading days of the week. IF we can manage to put in a higher low, THEN look for bulls to gain traction for much higher. Price action looks to be tracing out a consolidation pattern, so if the bulls are unable to hold the current low, THEN look for it to break lower.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-76963097349212012692009-03-21T18:27:00.000-07:002009-03-21T18:35:04.363-07:00$RUT Update for 03.21.2009<strong>RUSSELL 2000 INDEX - $RUT</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbHL62WBH10zdE1Y51BzOs4xA0v_y7nDbuWYz-XoDtYlxaLpb8e0pOO-dMSYUhLd1uJ1LDZV1t0Iy1_LNSqWYu7N1dQ5xv-Qo0TeGqNuv0e-hsFGJr5JjupFJI_cK_ptJe9ocbXQ/s1600-h/$RUT+Monthly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315818466242494050" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjbHL62WBH10zdE1Y51BzOs4xA0v_y7nDbuWYz-XoDtYlxaLpb8e0pOO-dMSYUhLd1uJ1LDZV1t0Iy1_LNSqWYu7N1dQ5xv-Qo0TeGqNuv0e-hsFGJr5JjupFJI_cK_ptJe9ocbXQ/s320/$RUT+Monthly+032009.jpg" border="0" /></a><br />Monthly chart shows short term support holding for the time being. Index remains below all key moving averages, with no buy signal/pattern evident on this timeframe.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0F024TiOOcr0fKcQV7_Y1AivYP_Y_YCSkY32yCP6fJddQw_zzWcJlymP29e3QhvgOWsWmG5sUM4t43dTQ-8MWgZeqdsIK8MMjZWA9r5xpZUEqvTPUm7RxWV37ajFTT8DVakKSqQ/s1600-h/$RUT+Weekly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315818467631930338" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0F024TiOOcr0fKcQV7_Y1AivYP_Y_YCSkY32yCP6fJddQw_zzWcJlymP29e3QhvgOWsWmG5sUM4t43dTQ-8MWgZeqdsIK8MMjZWA9r5xpZUEqvTPUm7RxWV37ajFTT8DVakKSqQ/s320/$RUT+Weekly+032009.jpg" border="0" /></a><br />Weekly chart shows that while the bulls have found short term support, the upside momentum fizzled with last week's trading session, which resulted in a doji/spinning top candle pattern.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWSwlL7JGYIL7C9fEbIr6DCddVR7xr-Ucc9-zSonLBjEi4PerOZE8eGXqp9HD8flewHQSg-U_W-ZZaZqMsEUVnjPnJY5m7h5xeAzeMVbjGCDIlI0pdI30zSX6LyNqywS9GyYsiuQ/s1600-h/$RUT+Daily+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315818465926356178" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWSwlL7JGYIL7C9fEbIr6DCddVR7xr-Ucc9-zSonLBjEi4PerOZE8eGXqp9HD8flewHQSg-U_W-ZZaZqMsEUVnjPnJY5m7h5xeAzeMVbjGCDIlI0pdI30zSX6LyNqywS9GyYsiuQ/s320/$RUT+Daily+032009.jpg" border="0" /></a><br /><div>Daily chart better shows the sell off towards the end of the week and as quadruple witching draws to a close. A <a href="http://www.candlestickforum.com/PPF/Parameters/11_716_/candlestick.asp">"blue ice failure"</a> pattern could be setting up here, if the bulls are unable to regain upside momentum.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-86388436941794303922009-03-21T18:17:00.001-07:002009-03-21T18:27:05.781-07:00$NDX Update for 03.20.2009<strong>NASDAQ 100 INDEX - $NDX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPLTrw_fku9TZfqfN7qhob_2XjUqxFdOvVgLzIq0athaAoZeDEjycej0QCFpYkftTwXVcFR2B7S63bVH47mo9xOsyGl85yr4DFXCp2ViqlE1TOczUtnGl7AhfUDef4Mq539_c7Tg/s1600-h/$NDX+Monthly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315815258091209314" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPLTrw_fku9TZfqfN7qhob_2XjUqxFdOvVgLzIq0athaAoZeDEjycej0QCFpYkftTwXVcFR2B7S63bVH47mo9xOsyGl85yr4DFXCp2ViqlE1TOczUtnGl7AhfUDef4Mq539_c7Tg/s320/$NDX+Monthly+032009.jpg" border="0" /></a><br />Monthly chart shows short term support holding for the time being. Index remains below all key moving averages. IF the bulls can manage to hold this low, THEN we have a possible buy signal/pattern developing.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeQ9-s9fcpOcJY9u_rO39_LWoCmRwYwP2h5_G55rQmGMS-UIrQ1U-HHkCczTjuGGLxRouic7ixwY8xE87tDZfhnGhFfuVJuietq-4_G_htv57tDHzMHBcMkaPjvC4pMny_BXwgVg/s1600-h/$NDX+Weekly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315815257924715890" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeQ9-s9fcpOcJY9u_rO39_LWoCmRwYwP2h5_G55rQmGMS-UIrQ1U-HHkCczTjuGGLxRouic7ixwY8xE87tDZfhnGhFfuVJuietq-4_G_htv57tDHzMHBcMkaPjvC4pMny_BXwgVg/s320/$NDX+Weekly+032009.jpg" border="0" /></a><br />Weekly chart shows that the upside momentum fizzled towards the end of the week. The price action for last week's trading session resulted in a doji/shooting star candle pattern. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqT3oC4RbB2pXQmJGawJEpNadRqQh7jaPSMroWQcVaWcnDiRxFzlKwwTh6ilk1gXyI1ppUStrAoyLaS20hK7pYYlQlPjEkgczGfZTq68xonLQ6SY87x54sD9PmZVsfU5aLkWuhrw/s1600-h/$NDX+Daily+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315815257604500226" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqT3oC4RbB2pXQmJGawJEpNadRqQh7jaPSMroWQcVaWcnDiRxFzlKwwTh6ilk1gXyI1ppUStrAoyLaS20hK7pYYlQlPjEkgczGfZTq68xonLQ6SY87x54sD9PmZVsfU5aLkWuhrw/s320/$NDX+Daily+032009.jpg" border="0" /></a><br /><div>Daily chart better shows the selling off towards the end of the week as quadruple witching grinds to a finish. Currently, the price action seems to be tracing out a consolidation pattern. The bulls need to regain the upside momentum and climb above the February 2009 high in order to convince the bears that a key low has been put in place.</div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-14265444984005621722009-03-21T18:08:00.001-07:002009-03-21T18:17:14.766-07:00$SPX Update for 03.21.2009<strong>S&P 500 INDEX - $SPX</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgz14nIfP06tlT97OBUfrNrzZ_9r5iZUX503_ZhX1-HTuJko_A20JHZRfchFV0dW1O5y6O37_AgfxT2a-EQHtyF7mzhkL7EkzsUNyUSRP9WmYAz2XJ1OFltcezk_lLqwp-xC26J0A/s1600-h/$SPX+Monthly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315813268367872402" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgz14nIfP06tlT97OBUfrNrzZ_9r5iZUX503_ZhX1-HTuJko_A20JHZRfchFV0dW1O5y6O37_AgfxT2a-EQHtyF7mzhkL7EkzsUNyUSRP9WmYAz2XJ1OFltcezk_lLqwp-xC26J0A/s320/$SPX+Monthly+032009.jpg" border="0" /></a><br /><div>Monthly chart shows short term bottom in place, as aggressive bulls stepped back into the market. The bulls managed to close the week right at the key LIS and October 2002 bottom. No buy signal/pattern evident on this timeframe as of yet.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqc-c2jnqtzZz95xoSpVRobBPg8Abj-RW8nbTJ6AyEXrV7Rt-TWqCK91FkUSwKW-MhC1XH7OABeho1WN_vdgZqItGjWeo-fqhd5XbXBZAqd7GCVXxignI9dh8hRqvXEU-wIKbaJA/s1600-h/$SPX+Weekly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315812967812276226" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqc-c2jnqtzZz95xoSpVRobBPg8Abj-RW8nbTJ6AyEXrV7Rt-TWqCK91FkUSwKW-MhC1XH7OABeho1WN_vdgZqItGjWeo-fqhd5XbXBZAqd7GCVXxignI9dh8hRqvXEU-wIKbaJA/s320/$SPX+Weekly+032009.jpg" border="0" /></a><br />Weekly chart shows that last week's trading session ended in a doji/shooting star candle pattern as the upside momentum fizzled towards the end of the week. The bulls did however, manage to close the week above the small key LIS and s/r of the November 2008 low. <br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAJTYaVSQtqAGHKkXsyckyHHJ0qDb4gTh7aie2bJhrA185d_wcCHSHDx6gTbtAz5vFo-f_wvXFD_SJG_HCPSJ8JAvP7pD7SxO29_effMHWgSkB2kgNmzkVda-73758V_UXUVMQ2w/s1600-h/$SPX+Daily+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315812961577091586" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAJTYaVSQtqAGHKkXsyckyHHJ0qDb4gTh7aie2bJhrA185d_wcCHSHDx6gTbtAz5vFo-f_wvXFD_SJG_HCPSJ8JAvP7pD7SxO29_effMHWgSkB2kgNmzkVda-73758V_UXUVMQ2w/s320/$SPX+Daily+032009.jpg" border="0" /></a></div><div>Daily chart shows profit taking/renewed selling pressure towards the end of the week. The bulls encountered resistance right at prior support of the January 2009 low. If the bulls are unable to gather upside traction, this will create a <a href="http://www.candlestickforum.com/PPF/Parameters/11_716_/candlestick.asp">"blue ice failure"</a> pattern.</div></div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-32799183200251055842009-03-21T17:56:00.000-07:002009-03-21T18:07:57.946-07:00$INDU update for 03.21.2009<strong>DOW JONES INDUSTRIAL AVERAGE INDEX - $INDU</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNTNhLfvSzJIInxq-DJw999-zAdS7lHF_TnxK35nEr8_lt2p5znPkhhfKTPvqlquo1Y6qdi3dOUX5RFeI6XS9qMXgNInP1f7JiHXOY_faohZggGrNGeyJR-hahbrdF4XGgdM7gYg/s1600-h/$INDU+Monthly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315810130110344258" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNTNhLfvSzJIInxq-DJw999-zAdS7lHF_TnxK35nEr8_lt2p5znPkhhfKTPvqlquo1Y6qdi3dOUX5RFeI6XS9qMXgNInP1f7JiHXOY_faohZggGrNGeyJR-hahbrdF4XGgdM7gYg/s320/$INDU+Monthly+032009.jpg" border="0" /></a><br />Monthly chart shows short term bottom in place for now. Will the bulls manage to close the month above the key LIS and the low of October 2002? Technically, there is no buy signal/pattern evident on this timeframe. <br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnC5UqSWwgFUMMcqG0YsgGqsyXWtXo7sQGBRthrWnBHpAj25C-lycMy75AJCIK_GfKkZZGT3nUELxNveOEWOP1GpOXwqfwwxxoTo7G208ejK55AMj8nDlmFvvo4018HESdjiUrFw/s1600-h/$INDU+Weekly+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315810130592308994" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnC5UqSWwgFUMMcqG0YsgGqsyXWtXo7sQGBRthrWnBHpAj25C-lycMy75AJCIK_GfKkZZGT3nUELxNveOEWOP1GpOXwqfwwxxoTo7G208ejK55AMj8nDlmFvvo4018HESdjiUrFw/s320/$INDU+Weekly+032009.jpg" border="0" /></a><br />Weekly chart shows the bullish engulfing candle pattern holding support for now. This week's trading session seems to have fizzled out, as evidenced by the shooting star type candle pattern. When met with the resistance above, the bulls encountered selling pressure, and were unable to close the week above this key LIS and November 2008 low, where old support became new resistance.<br /><div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdYvGNNDaQPNJMzBcl65wXlXQTX1wzonuPqa3zbW9MMbXvsSFja95Io5vfE-pQhuIsfXyVxotWg3BguC00ZY64pt54yj7ylniL_skn-1OywkaN0j7s0_X5UYtb38As28n04qVErA/s1600-h/$INDU+Daily+032009.jpg"><img id="BLOGGER_PHOTO_ID_5315810126950781890" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdYvGNNDaQPNJMzBcl65wXlXQTX1wzonuPqa3zbW9MMbXvsSFja95Io5vfE-pQhuIsfXyVxotWg3BguC00ZY64pt54yj7ylniL_skn-1OywkaN0j7s0_X5UYtb38As28n04qVErA/s320/$INDU+Daily+032009.jpg" border="0" /></a><br /><div>Daily chart better shows the selling pressure as the market approached the key LIS and s/r of November 2008. This is shaping up to be a potential <a href="http://www.candlestickforum.com/PPF/Parameters/11_716_/candlestick.asp">"blue ice failure"</a> pattern if the bulls are unable to regain upside traction next week. </div></div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0tag:blogger.com,1999:blog-35263474.post-61417922222282895322009-03-15T10:04:00.000-07:002009-03-15T10:22:34.374-07:00$RUT Update for 03.15.2009<strong>RUSSELL 2000 INDEX - $RUT</strong><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjb9vZpLi9Ogh6FUUblF2R_uy8N60zyhqneTw9WTlfa79ySsZBgNcXDavT02PuET82D3ivXpZusxX3ox7hYAryadBNT-yaYjLdwMQKCZD3ZC1jaD4zluLVLJGG-j6ZFjc8JLvhEQA/s1600-h/$RUT+Monthly+031309.jpg"><img id="BLOGGER_PHOTO_ID_5313464204758984146" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjb9vZpLi9Ogh6FUUblF2R_uy8N60zyhqneTw9WTlfa79ySsZBgNcXDavT02PuET82D3ivXpZusxX3ox7hYAryadBNT-yaYjLdwMQKCZD3ZC1jaD4zluLVLJGG-j6ZFjc8JLvhEQA/s320/$RUT+Monthly+031309.jpg" border="0" /></a><br />Monthly chart shows that thus far, the price action for the month of March 2009 is producing a bottoming tail. Look to the lower timeframe charts to looking for long entries.<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguqfXqi5H1QZXuaDIekE8XDhWmU2viUTG5lk01_NAq_v1RjIwmf0YjlrYrWQh0ZPSf6AOCeO-59_ONKmOHZoodc1-MncHUyhOCPRqDXqFmDcatUL_AKyUpGxc26kxReEn9BWxslA/s1600-h/$RUT+Weekly+031309.jpg"><img id="BLOGGER_PHOTO_ID_5313464194945032146" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguqfXqi5H1QZXuaDIekE8XDhWmU2viUTG5lk01_NAq_v1RjIwmf0YjlrYrWQh0ZPSf6AOCeO-59_ONKmOHZoodc1-MncHUyhOCPRqDXqFmDcatUL_AKyUpGxc26kxReEn9BWxslA/s320/$RUT+Weekly+031309.jpg" border="0" /></a><br />Weekly chart shows that this week's trading session resulted in a bullish engulfing candle pattern. The lower low in place was made with regular divergence on the CCI momentum indicator. The aggressive bulls managed to close the week near its high and well above the prior key LIS of November 2008 (old support did not become new resistance).<br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhET9rikyKd0rlej9llAx6MPAHXGJZtqFreE4jq9ky3UFvYPskrpgKO-oHqWmsFOqp8auxEvmX499m90oFX8ndjCxYUG2Ac4ABmBRAphnZOFpNfenovMELsqb4IVqjn-ITpyGCSmQ/s1600-h/$RUT+Daily+031309.jpg"><img id="BLOGGER_PHOTO_ID_5313464187910800402" style="WIDTH: 320px; CURSOR: hand; HEIGHT: 240px" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhET9rikyKd0rlej9llAx6MPAHXGJZtqFreE4jq9ky3UFvYPskrpgKO-oHqWmsFOqp8auxEvmX499m90oFX8ndjCxYUG2Ac4ABmBRAphnZOFpNfenovMELsqb4IVqjn-ITpyGCSmQ/s320/$RUT+Daily+031309.jpg" border="0" /></a><br /><div>Daily chart shows that last week's doji gave a heads up as to possible change in trader sentiment. Price action also traced out a bullish butterfly pattern, which also gave a clue as to possible change in trader sentiment. First resistance level is at the .382 fib area of the last move down from the January 2009 high. Look for a retracement and a higher low to enter swing long.</div>TraderZhttp://www.blogger.com/profile/04056338010539320968noreply@blogger.com0