Here is the latest trading and free market analysis video on the SP500 (SPX) and SPY ETF
Today the Dow +214.33 at 8426.74, Nasdaq +44.36 at 1763.56, S&P +29.72 at 907.24 SPY gapped up at the open to 88.56 and then traded higher to 90.04 and then pulled back off of resistance down to 89.25 to the MA20 on the 10 minute chart then traded higher in to the close of 90.88 + 3.04 on the day.
Summery: This is a day traders market still. SPX/SPY are still trading higher it looks like it is still putting in higher highs and higher lows on the 30 minute chart for now. As long as this bullish pattern continues we can continue to buy the dips and sell the rips. We are at the top of the trading channel here so look for a pull back soon.
However be careful the markets are looking toppy here.
For long term traders you need to wait for pull back on the 30 minute chart before buying the SPY and also buy a protective PUT for insurance to the down side, or limit your risk by buying a bull call spread instead.
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Reuters News
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Monday, May 4, 2009
Friday, May 1, 2009
Weekly Current Market Conditions 05/01/09 - Free Stock Market Analysis
Here is the latest trading and free market analysis video on the SP500 (SPX) and SPY ETF
Today the Dow DJIA 8212.41 + 44.29 (+0.54%) and S&P SPX 877.52 +4.71 (+0.54%). SPY traded down at the open to 86.72 and then traded higher to 88.21 the high of the day, and then the bears stepped in pulling the market back down to 87.13. There the SPY found some support at around 87.13, and traded up to a close at 87.89 + 0.47 on the day.
Summery: This is a day traders market still. SPX/SPY are still trading higher it looks like it is still putting in higher highs and higher lows on the 30 minute chart for now. As long as this bullish pattern continues we can continue to buy the dips and sell the rips. However be careful the markets are looking toppy here. For long term traders you may buy the SPY and also buy a protective PUT for insurance to the down side, or limit your risk by buying a bull call spread instead.
If you find these videos or info to be helpful please Tip or donate - <<<< link on the side >>>>.
Contributions: We appreciate all donations, please help keep this site free for the World to see and profit from. Thanks again.
Please Feel free to share this blog with your family and friends, Thanks!
If you would like please comment below.
Reuters News:
CNBC
Today the Dow DJIA 8212.41 + 44.29 (+0.54%) and S&P SPX 877.52 +4.71 (+0.54%). SPY traded down at the open to 86.72 and then traded higher to 88.21 the high of the day, and then the bears stepped in pulling the market back down to 87.13. There the SPY found some support at around 87.13, and traded up to a close at 87.89 + 0.47 on the day.
Summery: This is a day traders market still. SPX/SPY are still trading higher it looks like it is still putting in higher highs and higher lows on the 30 minute chart for now. As long as this bullish pattern continues we can continue to buy the dips and sell the rips. However be careful the markets are looking toppy here. For long term traders you may buy the SPY and also buy a protective PUT for insurance to the down side, or limit your risk by buying a bull call spread instead.
If you find these videos or info to be helpful please Tip or donate - <<<< link on the side >>>>.
Contributions: We appreciate all donations, please help keep this site free for the World to see and profit from. Thanks again.
Please Feel free to share this blog with your family and friends, Thanks!
If you would like please comment below.
Reuters News:
CNBC
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