Shares in large companies (SPY) opened 0.4% above yesterday's high and then rose a couple of cents to $115.97 before dropping backing back, using the $115.60 level as support on the low-level chart. After that, SPY turned jittery.
SPY moved up to $15.70 as support and then moved down toward resistance at $115.14.
Treasury long-term bonds (TLT) opened in the middle of Thursday's range and stayed their, barely changing from today's initial price.
None of my other indicators showed breakouts (or breakdowns) from yesterday's trading ranges, and the technical signals for all indicators, SPY included, remain as they have been.
Showing posts with label SPY. Show all posts
Showing posts with label SPY. Show all posts
Friday, March 12, 2010
Thursday, March 11, 2010
SPY Chart Talk
SPY opened the day zig-zagging below $114.70 and then made a series of upward runs, beginning around 12:35 p.m. Eastern.
The first charge ran out of steam at $115.03. The second succeeded, closing above resistance at 3:08 p.m.
SPY pierces resistance
The SPY etf has again pierced resistance at $115.14, at 3:08 p.m. Eastern. I'll do a closer examining the low-level chart.
3/11 Morningline
Blue chip stocks (SPY) and Treasury long-term bonds (TLT) opened in the middle of Wednesday's ranges, as though hung over from that day's excesses.
SPY on Wednesday slightly overshot its high of Jan. 14 but failed to establish that price, $115.14, as a new support level.
Will SPY again attempt to pierce that major resistance and resume the bull market that began in March 2009? Will SPY, despondent, sink back into beardom? Or will it stay put, embracing boredom as the price goes nowhere?
The morning's theme song is from the 1934 Cole Porter: "Anything Goes".
SPY on Wednesday slightly overshot its high of Jan. 14 but failed to establish that price, $115.14, as a new support level.
Will SPY again attempt to pierce that major resistance and resume the bull market that began in March 2009? Will SPY, despondent, sink back into beardom? Or will it stay put, embracing boredom as the price goes nowhere?
The morning's theme song is from the 1934 Cole Porter: "Anything Goes".
Wednesday, March 10, 2010
SPY: The final hour
As shadows lengthened across Wall Street, thoughts turned to home, and traders sought a final if temporary truth in the wandering prices that are the market, the low level chart of blue-chip stocks displayed the terrifying face of the Anti-Borg.
Resistance was anything but futile.
On the 133-tick chart, in the last hour of trading SPY tested the $115.14 resistance level 11 times, made it as high as $115.16, but then drew back.
Resistance was anything but futile.
On the 133-tick chart, in the last hour of trading SPY tested the $115.14 resistance level 11 times, made it as high as $115.16, but then drew back.
3/10 Morningline
Blue chip stocks (SPY) continue to tease the high set Jan. 14.
The magic number is $115.14. If SPY moves through that level (and stays above it), then the bull market that began a year ago continues. If the price pulls back and never exceeds that level, then the 72% rise will count as just a bear market correction.
The next significant resistance above $115.14 is around $130, so the easy money in the event of a bull move is 13%.
Treasury long-term bonds are trading at the bottom of yesterday's range with a new psar bear signal. The pps flashed bear on Friday, and the macd on Monday.
The magic number is $115.14. If SPY moves through that level (and stays above it), then the bull market that began a year ago continues. If the price pulls back and never exceeds that level, then the 72% rise will count as just a bear market correction.
Abbreviations:
pps - Person's Proprietary Signal, ma20 - 20-day moving average, macd - Moving Average Convergence-Divergence, mfi - Money Flow Index, sto - Fast Stochastic
pps - Person's Proprietary Signal, ma20 - 20-day moving average, macd - Moving Average Convergence-Divergence, mfi - Money Flow Index, sto - Fast Stochastic
The next significant resistance above $115.14 is around $130, so the easy money in the event of a bull move is 13%.
Treasury long-term bonds are trading at the bottom of yesterday's range with a new psar bear signal. The pps flashed bear on Friday, and the macd on Monday.
Tuesday, March 9, 2010
3/10 Almanac
Wednesday, March 10, is 9 days before March options expire, 37 the April and 72 the May.
Blue chip stocks (SPY) closed the latest regular session at $114.46, up 0.02% from the prior close.
In total, 3.3 billion shares were traded on the three major U.S. stock exchanges, up 6.5 from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session at $114.46, up 0.02% from the prior close.
In total, 3.3 billion shares were traded on the three major U.S. stock exchanges, up 6.5 from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
3/9 Morningline
Gold (GLD) is showing a psar bear signal this morning, a day after a pps bear signal. Today's signal came on a gap down that saw GLD open 0.7% below Monday's close.
The macd remains in bull territory although it is in its fourth day of decline toward the zero line. The sto on Monday moved below the overbought line, a bear signal.
Otherwise, my major indicators are opening barely changed and trading in a narrow range: Blue chip stocks(SPY) down, Treasury long-term bonds (TLT), oil (USO) down, everywhere a global yawn except for the dollar-yen (USD/JPY) currency pair, which saw the dollar decline 0.8% against the Japanese currency.
The macd remains in bull territory although it is in its fourth day of decline toward the zero line. The sto on Monday moved below the overbought line, a bear signal.
Abbreviations:
pps - Person's Proprietary Signal, ma20 - 20-day moving average, macd - Moving Average Convergence-Divergence, mfi - Money Flow Index, sto - Fast Stochastic
pps - Person's Proprietary Signal, ma20 - 20-day moving average, macd - Moving Average Convergence-Divergence, mfi - Money Flow Index, sto - Fast Stochastic
Otherwise, my major indicators are opening barely changed and trading in a narrow range: Blue chip stocks(SPY) down, Treasury long-term bonds (TLT), oil (USO) down, everywhere a global yawn except for the dollar-yen (USD/JPY) currency pair, which saw the dollar decline 0.8% against the Japanese currency.
Monday, March 8, 2010
3/9 Almanac
Tuesday, March 9, is 10 days before March options expire, 38 the April and 73 the May.
Blue chip stocks (SPY) closed the latest regular session at $114.27, down 0.03% from the prior close.
In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, down 8.8 from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session at $114.27, down 0.03% from the prior close.
In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, down 8.8 from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
3/8 Morningline
Stocks opened barely changed at the top of Friday's trading range, a day that showed a strong upward push in the blue chips.
SPY, the exchange-traded fund that tracks the S&P 500 index, has regraced most of the decline that, beginning Jan. 19, brought pricde down from $115.14 to $104.58 on Feb. 5.
Abbreviations: pps - Person's Proprietary Signal, ma20 - 20-day moving average, macd - Moving Average Convergence-Divergence, mfi - Money Flow Index, sto - Fast Stochastic
The subsequent rise has brought the price to within less than a $1 of the January peak. If the price pushes past $115.14, then SPY will record and higher high and remain in an uptrend -- of sorts -- in the rise that began at $67.10 in March 2009.
SPY, the exchange-traded fund that tracks the S&P 500 index, has regraced most of the decline that, beginning Jan. 19, brought pricde down from $115.14 to $104.58 on Feb. 5.
Abbreviations: pps - Person's Proprietary Signal, ma20 - 20-day moving average, macd - Moving Average Convergence-Divergence, mfi - Money Flow Index, sto - Fast Stochastic
The subsequent rise has brought the price to within less than a $1 of the January peak. If the price pushes past $115.14, then SPY will record and higher high and remain in an uptrend -- of sorts -- in the rise that began at $67.10 in March 2009.
Friday, March 5, 2010
3/8 Almanac
Monday, March 8, is 11 days before March options expire, 39 the April and 74 the May.
Blue chip stocks (SPY) closed the latest regular session at $114.25, up 1.4% from the prior close.
In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, up 13.3% from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session at $114.25, up 1.4% from the prior close.
In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, up 13.3% from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Thursday, March 4, 2010
3/5 Almanac
Friday, March 5, is 14 days before March options expire, 42 the April and 77 the May.
Blue chip stocks (SPY) closed the latest regular session at $112.64, up 0.3% from the prior close.
In total, 3 billion shares were traded on the three major U.S. stock exchanges, down 14.2% from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session at $112.64, up 0.3% from the prior close.
In total, 3 billion shares were traded on the three major U.S. stock exchanges, down 14.2% from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
3/4 Morningline
The Victorian novelist Edward Bulwer-Lytton gained undying fame with opening line to his novel Paul Clifford: "It was a dark and stormy night."
Were the 1st baron of Lytton a market writer today, it would surely strain in powers of composition: "It was a gray and insipid morn"? "It was a bland and comatose dawn"?
Once again my main indicators are not on the move this morning, straining even my powers of far-fetched metaphory, of creating golden prose from factual dross.
But challenges must be met . . .
Blue-chip stocks (SPY) opened the day up near the top of a three-day trading range. The etf is trading at $112.60 or so. A break above $112.88 would move above both the range and the 78.6% Fibonacci retracement of the decline from Jan. 19 to Feb. 5. Support is at $111.58.
Were the 1st baron of Lytton a market writer today, it would surely strain in powers of composition: "It was a gray and insipid morn"? "It was a bland and comatose dawn"?
Once again my main indicators are not on the move this morning, straining even my powers of far-fetched metaphory, of creating golden prose from factual dross.
But challenges must be met . . .
Blue-chip stocks (SPY) opened the day up near the top of a three-day trading range. The etf is trading at $112.60 or so. A break above $112.88 would move above both the range and the 78.6% Fibonacci retracement of the decline from Jan. 19 to Feb. 5. Support is at $111.58.
Wednesday, March 3, 2010
3/4 Almanac
Thursday, March 4, is 15 days before March options expire, 43 the April and 78 the May.
Blue chip stocks (SPY) closed the latest regular session at $112.30, up 0.09% from the prior close.
In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, unchanged from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session at $112.30, up 0.09% from the prior close.
In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, unchanged from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
3/3 Watchlist
Every time I look at the blue chips chart today, my brain just swings into a rendition of the itsy bitsy spider song. You know the one, "Itsy bitsy spider, climbed up the water spout".
Today's SPY candlestick looks like an itsy bitsy spider hanging by a silken thread from the 78.6% Fibonacci retracement line.
Of course, we all remember the next line of the song: "Down came the rain, and washed the spider out," no doubt at least to the 61.8% retracement level.
Who'd'a thought that Fibonacci retracements could be applied to spider analysis.
Today's SPY candlestick looks like an itsy bitsy spider hanging by a silken thread from the 78.6% Fibonacci retracement line.
Of course, we all remember the next line of the song: "Down came the rain, and washed the spider out," no doubt at least to the 61.8% retracement level.
Who'd'a thought that Fibonacci retracements could be applied to spider analysis.
3/3 Morningline
The market is opening as flat as an old bottle of Coke left open to the sun three days running.
With little effervescence and even less pizazz, blue chip stocks (SPY) were trading near the upper half of yesterday's narrow range. Looking only at opens and closes, however, SPY is continuing to climb the staircase that began on Feb. 25. It's just that the stairs are getting somewhat smaller.
Treasury long-term bonds (TLT) were trading very narrowly in the middle of yesterday's range in a downtrend that began Feb. 26. The pps showed a bear signal this morning, while the psar and macd remained in bull mode. The sto crossed down below the 80-line, considered to be a bear signal.
With little effervescence and even less pizazz, blue chip stocks (SPY) were trading near the upper half of yesterday's narrow range. Looking only at opens and closes, however, SPY is continuing to climb the staircase that began on Feb. 25. It's just that the stairs are getting somewhat smaller.
Treasury long-term bonds (TLT) were trading very narrowly in the middle of yesterday's range in a downtrend that began Feb. 26. The pps showed a bear signal this morning, while the psar and macd remained in bull mode. The sto crossed down below the 80-line, considered to be a bear signal.
Tuesday, March 2, 2010
3/3 Almanac
Wednesday, March 3, is 16 days before March options expire, 44 the April and 79 the May.
Blue chip stocks (SPY) closed the latest regular session at $112.20, up 0.3% from the prior close.
In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, up 2.9% from Monday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session at $112.20, up 0.3% from the prior close.
In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, up 2.9% from Monday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
3/2 Watchlist
Blue chip stocks (SPY) are hanging from the 78.6% Fibonacci retracement line like a spider hanging from a door frame. The open-to-now range is just a few cents.
Treasury long-term bonds (TLT) have pushed up into yesterday's trading range, recovering nearly all of what they lost on this morning's downward gap.
Gold (GLD) has broken above the trading range set Feb. 16-22 into an area of congestion set in mid-January. Altogether, it has traversed 1.4% today low to high.
Treasury long-term bonds (TLT) have pushed up into yesterday's trading range, recovering nearly all of what they lost on this morning's downward gap.
Gold (GLD) has broken above the trading range set Feb. 16-22 into an area of congestion set in mid-January. Altogether, it has traversed 1.4% today low to high.
3/2 Morningline
Blue chip stocks (SPY) gapped up 0.4% this morning and then sat at the new level trading very narrowly, within a couple of cents of the opening.
Long-term Treasury bonds (TLT) gapped down 0.5%, and sat trading in an equally narrow range.
Media narratives credited Greece for the gaps, as Greece has been credited so many times before during the last few weeks, for up markets, down markets, sideways markets, earthquakes, eclipses and dyspepsia.
Long-term Treasury bonds (TLT) gapped down 0.5%, and sat trading in an equally narrow range.
Media narratives credited Greece for the gaps, as Greece has been credited so many times before during the last few weeks, for up markets, down markets, sideways markets, earthquakes, eclipses and dyspepsia.
Monday, March 1, 2010
3/2 Almanac
Tuesday, March 2, is 17 days before March options expire, 45 the April and 80 the May.
Blue chip stocks (SPY) closed the latest regular session at $111.89, up 1% from the prior close.
In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, down 2.9% from Friday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session at $111.89, up 1% from the prior close.
In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, down 2.9% from Friday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
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