200-Day Moving Average Holds As Support 06/27/11

The 200-day moving average of the S&P 500 Index is holding as support. Interestingly, today's range is almost identical to Friday's range.

Charles

S&P 500 Index Stays Above Its 200-Day Moving Average

So far, the S&P 500 Index is staying above its 200-day moving average. Near 1500 ET, the market quickly advanced on a news release by Reuters that stated that Greece agreed to a five-year austerity plan.

Charles

GREECE SIGN A DEAL INTO SLAVERY WITH THE IMF

Afternoon Divergence 06/16/11

As the S&P 500 traded below the previous day's low, IBM, Exxon and the Dow Industrials refused to follow. With this nonconfirmation of a new low, it's a good place to cover any short positions.

Charles

Still In Bear Mode Afterall 06/15/11

In the morning session, the 0930 ET open provided support, but the market could not trade past the pivot line. After the European market closes, the US stock market lost all support as it broke past the morning lows. The 1264 - 1265 area is now resistance.

Charles

Technical Bounce 06/14/11

The overnight market has been able to trade past short term resistance on the 60 minute chart. Let's see if yesterday's resistance ledge can provide support.

Charles

78-Bar Pivot Line

Quite simply, the market faded the 78-bar pivot line all day.

Charles