Back Down To The Lower Trading Zone 07/28/11

Here is an interesting article by David Callaway on the possibility of a market bounce following a US debt downgrade - "The Debt Downgrade And The Rally." For now, we are back to the lower trading zone.

Charles

Reuters Breakingviews: Commentary on Today's News

Solve Debt Crisis by Legalizing Marijuana?

Gang Of Six Debt Plan

Markets Watching Debt Ceiling Debate 07/25/11

The overseas markets took a tumble as politicians refused to reach an agreement on the debt ceiling. The good news is that the ES market stayed above its 10-day moving average. Some type of agreement will be made. It is a question of when.

Charles

ES Trades Past 1300 Resistance

Better than expected IBM earnings helped lift the overnight market well past the 1300 level. Major bank earnings will be reported today, including BAC, BK, BCSB, STBC, WFC and a few other banks. Let's see if bank earnings can lift the S&P 500 Index past its 50 and 100 day moving averages.

Charles

Waiting For The Politicians - 07/17/11

The market is staying in the 1300 to 1330 range while the politicians argue about the debt. A break out of this range would be significant.

Charles

Daily Support Levels Fail 07/14/11

Support levels failed all day, while resistance held as the market stays concerned about US political arguments over the country's debt levels.



This is my first attempt at growing Mexican Sunflowers. I really like the bright color.

Charles

Bernanke Says 'chaos' Would Follow U.S. Default

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S&P 500 Index Back To Its 50 - 100 Day Moving Average

The S&P 500 Index is back down to the 50 and 100-day moving average. Its struggling to stay above these lines.

Charles

Hiring Stalls: Unemployment Up to 9.2 Percent

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Market Overoptimism

The market got caught off guard with its overoptimism about the job situation. But, so far, the market is staying within the boundaries of this small high volume area between 1337 and 1326.

Charles

1400 ET Tumble 07/05/11

Typically, IBM, XOM and the ES futures make similar price patterns on the 5-minute chart. I notice when one of them diverts from the other charts. As the ES futures was testing Friday's high at 1400 ET, XOM was falling. Soon after, the ES futures also fell rapidly. Several items helped the market to fall at that point,

• Friday's high was still resistance
• The energy market was preparing for its last 30-minutes of trading for the day
• XOM was pushing down the market

One of the more interesting trading points to ponder today.

Charles