Author Archive
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S&P 500 Video Analysis for Jan 22.2010
Alpha Trends, Brian Shannon | January 22nd, 2010 at 8:00 am
Please click continue reading to view the video.
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S&P 500 Analysis for January 21, 2010
Alpha Trends, Brian Shannon | January 21st, 2010 at 8:00 am he market gapped lower and failed to hold the 114.30 area where there was prior support/resistance significance as well as the approximate location of the 5 & 10 day MAs. The market did get a bounce in the area of the December highs at 113, which also happens to be the location of the 20 day MA.
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S&P 500 Analysis for January 20, 2010
Alpha Trends, Brian Shannon | January 20th, 2010 at 8:00 am The market showed stability above the 113.20 level on Friday and then experienced a strong rally which impressively brought the market back to the high end of recent range and eliminated the possibility of a double top (see Friday’s chart).
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S&P 500 Analysis for January 14, 2010
Alpha Trends, Brian Shannon | January 14th, 2010 at 8:03 am The SPY gapped higher and rallied up to the 5 day moving average near 114 before backing off and regaining its strength for a successful push through that level and reiterating the point that buyers are still in control.
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S&P 500 Analysis for January 13, 2010
Alpha Trends, Brian Shannon | January 13th, 2010 at 8:45 am After six straight days of gains, the SPY experienced some profit taking on Tuesday. The trendline we obesrved yesterday at 113.75 was violated and found some short term support near 113.20 and also above the more important 112.80-113.00 level which should offer firmer support if the trend continues lower.
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S&P 500 Analysis for 1/12/10
Alpha Trends, Brian Shannon | January 12th, 2010 at 8:00 am The SPY gapped higher and found sellers near the 115 level on Monday and then traded down to the prior level of resistance from last week near 114.25 before the buyers were able to regain control in the afternoon. 114.25 now becomes the more important near term support for the market and if that should fail to hold then we will look for trendline support near 113.75.
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S&P 500 Pivot Levels for 01-11-10
Alpha Trends, Brian Shannon | January 11th, 2010 at 8:07 am The market continues to accelerate to the upside and to fight it remains foolish. Have a plan in place to protect profits.
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Technical Analysis of S&P 500 for 1/8/10
Alpha Trends, Brian Shannon | January 8th, 2010 at 8:00 am The SPY briefly dipped below 113.50 on Thursday but found anxious buyers who quickly took back control. The strength of the SPY is being helped by the recent out performance of the financial sector (XLF) which are up 6.2%YTD and relative weakness of the Nasdaq 100 (QQQQ), up 0.92% YTD is worth noting, but the Qs also remain in a solid uptrend on the daily timeframe.
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S&P 500 Technical Analysis for 1/7/10
Alpha Trends, Brian Shannon | January 7th, 2010 at 8:00 am The SPY continues to grind higher as the expected support levels have kept the pattern of higher highs and higher lows uninterrupted. On Wednesday we were looking for 113.50 to hold as support and the level was tested several times and held.
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S&P 500 Analysis for 1/6/10
Alpha Trends, Brian Shannon | January 6th, 2010 at 8:01 am The SPY tested and held above the 113 level on Tuesday before finishing near the highs of the day. The pattern of higher highs and higher lows is found just about every single timeframe and as long as that is the case the bulls obviously remain in control.
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S&P 500 Technical Analysis for 1/5/09
Alpha Trends, Brian Shannon | January 5th, 2010 at 8:00 am The breakdown through support from the final day of 2009 proved to be a quick bout of profit taking before year end as the SPY gapped higher and continued to climb on Monday. The quickness of the move back up through 112 had to take a lot of bears off guard and that helped add to the intensity of the rally.
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Technical Analysis of S&P 500 for 1/4/10
Alpha Trends, Brian Shannon | January 4th, 2010 at 8:00 am The SPY broke down through support at 111.80-112.00 on Friday and that makes the recent breakout highly suspect. The market is now back into the range that tormented traders the last part of the year and if the market finds resistance near 112 again we will be looking at a lower high which could embolden sellers to push the market lower into the first part of the new year.
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Year End Market Review Video
Alpha Trends, Brian Shannon | January 3rd, 2010 at 1:05 pm Please click continue reading to view the video.
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S&P 500 Technical Analysis for 12/30/09
Alpha Trends, Brian Shannon | December 30th, 2009 at 8:01 am The SPY gave back some of the gains of the prior 5 day rally but it remains comfortably above the prior important resistance at 111.80-112.00 and as long as it holds above this level the breakout should be trusted, even with light volume.
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S&P 500 Analysis for 12/29/09
Alpha Trends, Brian Shannon | December 29th, 2009 at 8:00 am Only a fool argues with price. The path of least resistance remains higher and the intraday weakness of the SPY on Monday was met with buyers near the 112.30 level, which should now be our first level of short term support on any pullbacks. If 112.30 fails to hold as support there should not be bigger concern unless the more important 111.80-112.00 level fails (which seems unlikely).
