Author Archive
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SP500 Hits Monthly Resistance but Will it Hold
Afraid to Trade, Corey Rosenbloom | January 11th, 2010 at 4:55 pm
We’ve come up to another key level to watch in the S&P 500, but this time, it looks like the last major line of defense for the bears/sellers in this market… and with further upside momentum, we’ll shatter right through it too.
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Mid-Day January 7 Update Shows Dual Divergences Forecasting Reversal
Afraid to Trade, Corey Rosenbloom | January 7th, 2010 at 2:49 pm It’s rare when a pattern this clearly emerges on the intraday chart, but so far mid-day on January 7th, the market is forming a dual TICK and Momentum divergence which gives odds favoring at least a deeper retracement at best or a reversal at worst by end of session. Let’s take a quick look.
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Exxon Mobil XOM Must Stay Above Critical Support Level
Afraid to Trade, Corey Rosenbloom | January 4th, 2010 at 7:51 am Exxon-Mobil is teetering at a critical support zone that buyers must hold… or else a monthly downside target could come into play. Price is currently in an ascending trading range with clear support and resistance levels. Let’s take a look at the weekly and monthly chart of Exxon-Mobil (XOM) to see these critical levels to watch.
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Quad-Market Performance and Relationships for 2009
Afraid to Trade, Corey Rosenbloom | January 3rd, 2010 at 1:03 pm Let’s take a quick end-of-year look at the major Quad-Markets - Bonds, Stocks, Commodities, and the US Dollar Index - to see both the relationship and performance in 2009.
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Comparing the US Dollar and SP500 Relationship Since 2007 Peak
Afraid to Trade, Corey Rosenbloom | December 30th, 2009 at 3:40 pm In continuing the thought from yesterday’s post “A Look at the Dual Rallies in the US Dollar Index and S&P 500,” I wanted to show a longer-term perspective of the two markets, starting with the S&P 500’s October 2007 peak. This will give us more ground to cover in assessing the inverse correlation between the Dollar and the S&P 500.
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A Look at the Two Dual Rallies in the SP500 and US Dollar Index in 2009
Afraid to Trade, Corey Rosenbloom | December 30th, 2009 at 7:29 am With many eyes focusing on the dual (and puzzling) rally in both the US Dollar Index and the S&P 500, I thought it would be good to go back starting with the March 2009 lows and see how many times this has happened recently - it turns out that there have been two times that the S&P 500 and US Dollar Index rallied simultaneously. Let’s see them.
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SPY Gap Repetition Breeds Familiarity
Afraid to Trade, Corey Rosenbloom | December 29th, 2009 at 1:30 pm … and “Familiarity Breeds Contempt.” Let’s take a quick pure price look at the recent five overnight gaps in the SPY - S&P 500 during the oozing uptrend that is taking place in the holiday bullish seasonality in the US Equity Markets.
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A Look at the Yield Curve at Market Tops and Bottoms
Afraid to Trade, Corey Rosenbloom | December 28th, 2009 at 7:21 am According to CNBC, the Yield Curve has reached its steepest curve ever. CNBC Producer Lee Brodie writes, “the spread between yields on two-year notes and 10-year notes widened on Monday to its steepest level on record. Specifically, the spread between the yields pushed out to 280 basis points on Monday from 274 basis points late last week.”
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Updated 1 minute chart of SP500 at 1,121 Level
Afraid to Trade, Corey Rosenbloom | December 24th, 2009 at 7:14 am
Following-up from my prior post “Knock, Knock, Knocking on Fibonacci’s Door,” I wanted to post a quick update on the current intraday S&P 500 Index chart to see just how important this level is and how buyers and sellers are playing ‘chicken’ at this level.
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After Looking Strong BIDU Begins Falling off a Cliff
Afraid to Trade, Corey Rosenbloom | December 23rd, 2009 at 7:45 am If you’ve been trading or following Baidu (BID) lately, then you know how much price (and investors) have been on a roller coaster lately! Let’s get a quick update on BIDU and view the recent recovery which is now being eroded in what could be shaping up to be the colorfully termed “Dead Cat Bounce” pattern.
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A Quick Look at New Highs for XLK Technology Sector
Afraid to Trade, Corey Rosenbloom | December 22nd, 2009 at 1:53 pm The XLK Technology Sector SPDR is making fresh new 2009 price highs above the prior ‘range resistance’ boundary area, and that is a bullish sign for the broader market. Let’s take a quick look at the daily and weekly chart of the XLK.
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Update on Tight Trading Range on SPY Dec 21
Afraid to Trade, Corey Rosenbloom | December 21st, 2009 at 11:15 am “The more things change, the more things stay the same…” or so it seems since mid-November to mid-December in the SPY and S&P 500 and broader US Equity Market.
Let’s take a ‘pure price’ look at the current trading range as seen on the 60-min chart.
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A Look at the Recent Fall in Potash POT
Afraid to Trade, Corey Rosenbloom | December 21st, 2009 at 7:00 am Potash (POT) is a stock I like to follow, mainly because it received so much attention as it rallied non-stop (almost) from 2006 at $30 per share to the mid-October 2008 peak of $240. The stock is well-beneath these lows now, but it looked like the stock was coming back to life.
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Monthly Gold Prices Hint at Correction
Afraid to Trade, Corey Rosenbloom | December 15th, 2009 at 7:12 am Gold prices have been featured prominently in the news lately, with the strong run-up into the $1,225 level and then the quick decline back to $1,100. Let’s pull the perspective back and look at monthly gold prices to see a possible replay of a pattern that has formed twice in the past… each time forming just before a pullback in price.
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A Look at Gold Prices Year to Date in 2009
Afraid to Trade, Corey Rosenbloom | December 14th, 2009 at 7:29 am As we approach the middle of December, let’s take a look at how gold prices have performed year-to-date and what specific level to watch here for clues as to the short-term future of gold.
