Friday, May 27, 2011

ES Futures Friday Morning Review 05/27/11

Bulls have been able to keep the S&P 500 index above its 100-day moving average, but, so far, have not been able to send it past its 50-day moving average. The market is still in a short term down trend.


Tuesday, May 24, 2011

Support Becomes Resistance

Starting Friday afternoon, various support levels failed. As the old saying goes, support becomes resistance. The market is trying to stay above its 100-day moving average, but the much followed 50-day moving average is now resistance. Don't expect the market to be very bullish until it closes above that MA.


Felix Salmon Speaks His Mind About Hedge Fund Managers

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Sunday, May 22, 2011

Follow The Money

CBS Follow The Money

A real estate mogul charged with swindling $40 million is murdered. Erin Moriarty reports.

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Friday, May 20, 2011

ES 60 Minute Chart Analysis 05/20/11

The market is trying to find support at the 50% correction line of the last up swing wave. If the market starts trading above its 78 bar pivot line on the five minute chart, we may get a third up wave in the typically bullish last week of May.


Thursday, May 19, 2011

LinkedIn's Stock Up 90 Percent in Market Debut

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ES Futures And S&P 500 Review 05/19/11

The S&P 500 Index is bouncing to the upside following the test of its 50-day moving average. The ES Futures is currently testing its 10-day MA. On the 5-min chart, the futures has stayed above the 78-bar floor trader pivot since 1500 ET on Tuesday afternoon.


Wednesday, May 11, 2011

Not So Bullish Day 05/11/11

I was expecting a narrow range, nontrending day. But the market had other plans. It is still above its 50-day moving average, but below its 10-day moving average. As you can see, the ES market stayed below the 78-bar floor trader pivot line all day providing resistance.


ES Market Fully Bullish 05/10/11

The S&P 500 cash market is staying above its 50-day moving average and the ES futures is again above its 10-day moving average, which makes the market fully bullish. On Monday, the 78-bar floor trader pivot line provided support on this uptrending day.


Tuesday, May 3, 2011

ES Downtrend 05/13/11

The ES market has been staying below the 78 bar average of the floor trader pivot. When the market test that line, we have been getting a bearish TICK divergence.