Will We See Support At March 16 Low?

In Tuesday's trading, it looked like we might get a technical bounce to the upside, but the market again sold off at the end of the day. We may not see any support activity until the market tests the March 16 low, which just happens to currently be at the 200-day moving average of the S&P 500.

Charles

Bernanke Sees Faster Growth Ahead for Economy

New S&P 500 Index Resistance 06/04/11

The S&P 500 cash index is meeting resistance at its 100-day moving average. Friday morning we saw a bullish bounce that gave us a three-wave move to the upside. However, the bullish momentum waned as it touched the 78-bar pivot line. In the last half of the day, the bears took control of the market and we finished where we started.

Charles

Dow and S&P500 Have Worst Stretch in Years

Daily Market Insights- Equities

Scan Stock and Commodities News Headlines

Charles

Bear Romp 06/01/11

The large trading firms obviously have reversed their opinion of the market's prospect for the next several months. All support levels failed today as the market traded in its largest range since March.

Charles

ES Analysis - Last Day Of May 2011

On Friday, the S&P 500 Index closed above its 50-day moving average giving the bulls a reason to continue buying stocks. On Tuesday, short term profit takers sold as the futures market tested its overnight high. Buyers waited until the market tested the Friday high and then continued their buying spree.

Charles