Will Return to Blogging in 2010

Neutral

The market is in a battle. The shorts are trying to keep pressure on the market and the longs are working bids the whole way down. We are in a two day FOMC meeting so we should see who will be right by the end of the meeting. I am staying on the outsides until it becomes clear with the direction. Support is 1012.00 and resistance is 1052.00.

Neutral

There is volatility back in the market. We are seeing the longs take profits and the shorts try to push the market lower knowing that they need to sell. Stay on the outside and do not trade the middle. Support is 1012.00 and resistance is 1084.50.

Slightly Bearish

Today we are opening right around the 20 day m.a. We have not yet retraced the fibonacci 38.2 percent of yesterdays down move (1071.75). If we cannot do that, we should continue to drift lower. My next support is 1047.25 and resistance is 1096.00. I will be selling rallies in front of the fibonacci retracement at 1071.75.

Slightly Bearish

I am bearish today because I believe that the daily m.a.'s need to be tested again. The 10 day m.a. is the overnight high and the 106650 is the 20 day. If we can stay below the 10 day at 1083.25 we should test the 20 day. I will be selling rallies today unless the overnight high is violated 1082.75. Support is 1061.50 and Resistance is 1108.75.

Slighly Bullish

The action in the market yesterday tells me that a lot of people are short at these prices. They might ultimately be right, but there might be some scares to the upside first. I am sticking with buying breaks today as long as we stay above the overnight lows 1089.25. Resistance is 1108.75 and support is 1060.50.

Slightly Bullish

We held the 200 m.a. on the 60 min. chart last night. So for now I am sticking with the trend and buying breaks. I have support at 1079.25 and 1068.25. I will turn bearish if they break my support at 1079.25 and look for them to trade down to 1068.25. I will be buying breaks leaning on that support area. Resistance is 1104.25.

Slightly Bearish

The opening range is the high of the day. The longs are taking some off the table at this 1100 area in the S&P cash market. I will be selling rallies today leaning on the highs of the day (1095.25). If they get above the highs my next resistance is 1104.25. Support is 1068.25.

Slightly Bullish

We are opening higher today in front of Apple's earnings coming out on the close. I will be watching that stock all day for direction in the market. My bias will be based on what Apple is doing. If Apple is up I will be buying breaks and if it is down I will sell rallies. Support is 1073.75 and 106825. Resistance is 1099.00-1102.50.

Slightly Bearish

The market has hit my resistance overnight at 1095.00. I love when they do that. They hit it when no one is trading. Since they hit it and opened below yesterdays high I will be selling rallies leaning on that resistance. My next support is 1079.00 and next resistance is 1099.00. The market can go from support to resistance with ease during earnings season. Do not get stubborn and give the trades a couple bucks.

Slightly Bullish

The market has now taken out the 1075.50 resistance. My next resistance is 1095.00. I will be using the old resistance at 1075.50 as support. If we stay above that area we should trade up to 1095.00. Still trading small because this market is so one sided. Buying breaks with tight stops until they hit 1095.00 or violate 1075.50. Next support is 1060.00.

Slightly Bearish

As I expected, the Market made new highs for the year. I am looking to be a little short up here because I have resistance at 1075.50. I am only risking a couple bucks above this area. This market has still not showed any signs of this rally slowing down. I am only get short at my resistance levels risking minimal dollars. If we hold this area look for the market to trade down to 1070.00. My next support is 1055.00. Sell rallies with tight stops unless we trade above 1077.50.

Slightly Bearish

As long as we stay below 1063.50 I am staying short. If we stay below that area I am looking for the market to trade down to 1046.50. Above 1063.50 look for the market to trade up to the highs of the year 1075.75. If we trade above this area I will turn around and use this area as a pivot. This trade is very tough so do not over trade. Trade small knowing your outs and let the market work its way through this area.

Slightly Bullish

We are gapping higher again opening at my resistance at 1062.00. I will be selling in front of that area using a small stop. Ultimately I believe that we are going to test the highs of the year within a day or two. This market does not want to break. My next resistance is 1075.75. Support is 1038.50.

Slightly Bullish

Do not fade the trend. Two big up days to start the week. This market is strong and has not yet hit any resistance that they have not held. My resistance is 1062.25 above with support at 1024.00. I will be buying breaks on my short term charts. I will only sell rallies if we stay below opening range and we take out yesterday's lows (1042.50). If that happens I will sell rallies leaning on opening range.

Not Trading Until Oct. 5

Neutral,Slightly Bearish

We hit my resistance at 1065.50 and held the 20 month m.a. at 1066.50. I believe that there will be some selling up here. We should trade down to 1055.75. Below that I have 1035.00 as my next support. If we trade above 1066.50 look for the market to possibly rally up to 1076.50. Tomorrow is quadruple witching so be prepared for high volatility.

Neutral,Slightly Bullish

The market is staying in bullish mode. I have resistance at 1054.00 and above that my next stop is 1065.50. The market has not held any resistance this year. I am trading small and to the long side until they can hold resistance. Support is 1034.25.

Neutral,Slightly Bullish

The market is up again. The numbers were better this morning and we will open higher. Volume is still very light with a bullish tone. I am still sitting on sidelines until they hit some of my support and resistance levels. This is a very difficult trade so trade small. Stick with the old saying "Never sell a sleepy market" if you listen to that this year you are doing well. Resistance is 1054.00 and support is 1021.00 and 1015.75.

Not Trading Until Sep. 14

Neutral

We are in the middle of rollover and volume is light. I am scalping small. Support is 978.75 and Resistance is 1010.00.

Neutral

The market is taking a break after yesterdays move. I am trading small using short term charts to scalp. I have no bias on direction. FOMC minutes come at 1:00. That might take us one way or the other. I have support at 978.75 and resistance at 1041.75. My numbers are so wide because of the big volatility day yesterday.

Bearish

The sellers came out today. We broke my support at 1010.00 and started escalating to the downside. My next support is 981.50. Sell rally's all day. The sellers are out and probably not going away.

Bearish

It's the last day of the month and we are up for the month. I will be looking for selling to come into the market today. I will be selling rally's leaning on yesterdays highs. Volume will probably be light today so trade small with tight stops. Support at 1013.50. Resistance above at 1041.73.

Bullish

The market continues to hold support levels. Shorts try to push it down and continue to fail. I am going to continue with the bullish trend until we cannot hold a support level or we hold a resistance level several times. My resistance is 1039.25 and 1045.50. I also have a major resistance level at 1056.50. This level is a big pivot for me. If we hold that area we should see a 40 point potential drop within a day or two. Support is 1026 & 1016.00.

Bearish

The market is stalling up here. I came in short today looking for a break down to 1013.50. After 1013.50 I have support at 1009.00. I will be selling rallies all day using short term charts.

Neutral,Slightly Bullish

Today feels like it will be an inside day. We will probably trade within yesterdays range. If we take out the lows at 1018.25 we should see some selling taking us down to 1009.00 the ten day m.a. Other than that, I see us staying range bound with light volume. I have resistance at 1038.00 and 1045.50. Support is 1013.50 and 1009.00.

Neutral,Slightly Bullish

I have resistance at 1038.00 and 1045.50. We have held the 1038.00 area for now. This market is trading like it wants to go higher. I am trading from both sides. I am selling rallies in front of 1038.00. I am also using opening range(1029.25) as a pivot. My support below is 1013.50. I will be buying a break down to that area. This is still a summer trade with light volume. Take your winners and limit your losers.

Bullish

The market has crossed over the 200 month m.a. in the cash. I am just going with the market right now. When we are making highs like this you cannot fade it until they show that resistance is holding. My next resistance is 1044.00. I will be buying into this rally until we hold resistance. I will be selling if we trade 1044.00.

Not Trading until Aug.24

Neutral,Slightly Bullish

The market has held my support at 977.00. I feel like they want to trade lower but I am not going to fight it if we rally. I am buying dips today leaning on yesterdays lows. If we get below 977.00 my next support is 965.00. On the upside I have resistance at 989.00-991.00.Trade small because it is whipping around with light volume.

Neutral - Slightly Bullish

They had everybody short on Fri. with a late day rally up to 1007.00 where we have failed many times. They started to drift lower overnight with no buyers. We took out last weeks overnight low at 986.00 setting off some stops. I don't believe that there will much more downside today because it looks like they did most of it overnight. This trade is range trading right now. They move in one direction very quickly followed by consolidation then followed by a move back in the other direction. I have support at 977.00.

Neutral - Slightly Bullish

The market is taking all the selling and closing on the highs. That usually indicates a bull market. I am trading small waiting to see if we can make highs of the year (1016.00). At 8:55 we have consumer sentiment which might get things going in one direction or the other. I have resistance at 1021.00 and support at 996.25. Waiting for those areas to trade before I establish any real positions.

Slightly Bearish

We are still holding this fibonacci retracement at 1016.00. The data this morning also did not please the market. I am still cautious on being bearish because of the way we are trading up here. They keep selling and we don't go anywhere. I will be selling rallies until we get above this overnight high. Trading small waiting to see what happens. I have support at 1000.25 and 993.00. Resistance above at 1022.00 and 1029.25.

Neutral

I am neutral until this FOMC meeting is over. I have support below the market at 978.00. I will get long if we hit that area before the number. I have resistance above at 998.25. I will get short if we get to that area. I am just trading the outsides until this afternoon.

Bearish

The market is opening lower today in front of the two day FOMC meeting. Today should be light volume with downward bias. I am still looking to be short as long as we stay below the prior days high 1007.75. I have support at 998.25 and below that 974.25. Sell rallies leaning on yesterdays high.

Bearish

We have held a Fibonacci retracement from the all time high to this years low. The market should start to trade down from here. I have support at 984.00 and 974.00. I will be getting short on rallies leaning on the high from friday (1016.00).

Bullish

The unemployment numbers sparked a rally today. I am sitting on the sidelines waiting to see what happens here. I have major resistance at 1010.00-1013.50. I will be waiting to see what the market does if it hits those areas. Other than that I am not trading unless we trade back down to overnight lows. Trade small.

Bearish

We are opening higher again today and we took out yesterdays highs. I am bearish up to 1013.50 in the futures. If we get above that area I believe that you could see a quick move higher getting out some shorts. I will be getting short up to that area with tight stops. If we hold that area I will be looking for 990.25 for support. I am using short term charts to enter the market short. If we get below 990.25 look for the market to trade down to 986.00.

Slightly Bearish

I am sticking with my slightly bearish position. We have a double top in the cash on a weekly chart. We have rallied 50 percent off the market lows at 666.00. I will be selling rallies up to 1013.50 looking for a break down to my support at 986.00. I will be wrong if the market gets above 1016.00.

Slightly Bearish

We have held 999.00 so far in the futures market. I am slightly bearish because of that. I still feel like they want to go higher but I will be selling rallies until they take out overnight highs 1001.75. I have resistance above at 1009.50 and support below at 975.00. Trading small using short term m.a.'s to get in the market.

Bullish,Slightly Bearish

I have been buying breaks for weeks now waiting for the market to reach a significant area at 1000.00 in the S&P cash market. You should start to see a better trade. The market has been on a one way train for some time now. I have resistance at 999.00 in the futures and no support until 962.00. I am short the market with a tight stop above this area and I am looking for a break down to 962.00 if this holds. If it does not hold I am looking for 1008.00 - 1010.00 in the futures.

Slightly Bullish

The news on Jobless claims has sparked a higher open. I believe that we have to get above 1000.00 in the cash market before there will be any interest entering the market. I have been trading small looking for areas to be long.

Slightly Bearish

We cannot get above my resistance at 980.50. I believe you will see some selling today looking to take out yesterdays low at 969.00. I have support at 967.50. I will be a small buyer down there but I am slightly bearish overall. Selling rallies on my short term charts looking for 967.50.

Slightly Bullish

I am sticking with the trend until we break it. I am looking for areas to buy as long as we stay in this uptrend. We hit resistance overnight at 980.50 so look for selling on the open then wait for opportunities to be long.

Slightly Bullish

We are leaving single tics from yesterdays range. As long as we have these single tics I am staying long waiting for 980.50.

Slightly Bullish

The head and shoulders yesterday did not pan out. I am waiting for the market to either violate this 956.50 area or break the recent uptrend. We have hit this high several times now. I think that they might start breaking if they do not take that high out soon. If they take out the 956.50 I will be looking for 960.75 then 967.50 as resistance. Above 967.50 look for 980.50.

Neutral

We are making a head and shoulders on the 60 Min. chart. If we take out yesterdays low(939.50) we should trade down to 924.00. If we break the neck line we should trade up to 967.50. I am waiting to see what shakes out.

Bullish

As expected we have made new highs for the year overnight. I am looking for the market to trade up to 980.50 as my next major resistance. I have nothing else close to these prices for now. When the market is making highs of the year the trade is usually very boring. I am still buying breaks leaning on prior days lows.

Bullish

We are above all of my resistance areas. I am looking for the market to make highs of the year by the end of the week. I am buying breaks leaning on prior days lows.

Neutral - Slightly Bullish

I am remaining neutral for now. We have sold off from my big resistance level at 938.75 so I am waiting to see what today brings. I will be buying breaks down at the 913.50 support and sellling rallies at my resistance at 942.50 with a couple dollar stop loss.

Slightly Bullish

After yesterday's run up the market is going to go through some major tests to the upside. I have major resistance at 938.75. I will be shorting up there with a few dollars of risk. If the market violates this area we should trade back up to the highs of the year at 953.00. I am buying breaks until the market trades back below the 10 day m.a. at 894.50. Use your short term charts to pick your spots using m.a.'s (moving averages) to get long with tight stops. I am using 2 dollar stops.

Bullish

We have an upside head and shoulders that formed. The market was probably a bit oversold as well. I believe that we should trade up to 903.00 in the cash by days end. Look for big buy orders on the close if there is no sell off by the bell.

Bearish

The market cannot hold a rally. I am selling rallies today looking for 862.25. I will be exiting some of my shorts down at 862.25. If that does not hold, I will re-enter short and look for my next support at 841.00. As long as the market stays below 874.00 I will have no problem staying short all day. Above 874.00 I will sell rallies risking above yesterdays high(884.50).

Slightly Bullish

The market came up short of my 863.25 support which is usually bullish. The market just seems tired of breaking for now. I will be buying dips today looking for the market to trade up to 891.00. Although I would not be suprised to see the market trade all the way back down. I will turn bearish if the volume on the sell side picks up again. I will be using short term charts to determine my buying opportunities. Trading small with tight stops. The market is in limbo until 891.00 or 863.25.