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Tag Archives: market analysis
Weekly Market Review: June 26, 2009
The market dropped almost 20 points on Monday followed with Tuesday touching 888 on the S&P500. Then starting Wednesday, the market steadily climbed its way back to exactly where it started at the Friday close at 918. Doesn’t this get monotonic? I seem to be writing the same thing every week for the past month [...]
Weekly Market Review: June 19, 2009
The market gapped down on Monday and never recovered this week. We tested the support from late June. In other words, the market gain from June has evaporated. What it means next week is that we’re at least trading in a lower trading range now. This could be the start of the long-awaited retracement. Let’s [...]
Weekly Market Review: June 12, 2009
The market continues to be at a stalemate this week. The trading range of 925-950 identified last week remains intact. However, the 40 day MA finally touched the 200 day MA today (Figure 1). We should see the 50 day MA following suit next week. With the price being so tightly squeezed now, there really [...]
Weekly Market Review: June 5, 2009
We started June with a sizable gap up on Monday. For the rest of the week, not much have happened as we nearly closed the gap on Wednesday and made a double top this morning (Figure 1). Nevertheless, we have maintained an elevated level above 940 on the S&P500 throughout the week. Interestingly, we closed [...]
Weekly Market Review: May 29, 2009
It can’t be a coincidence that on the last trading day of the month, the market made a 10+ points run (S&P 500) in the last 5 minutes to close at just below 920 and back to where we were 3 weeks ago. Note in Figure 2 that we’re still below the recent uptrend. The [...]
Weekly Market Review: May 22, 2009
The market action this week has established an obvious trading range of 885 to 930 in the S&P 500. By the end of the week, we’re testing the lower end of this range on low volume (Figure 1). It would seem that we’ll be going up from here based on the indicators. Click here to [...]
Weekly Market Review: May 17, 2009
We finally have a week of lower highs and lower lows this week. This week’s move is putting a pause on our multi-week rally since March. However, we closed at the long term support at 883 from the December 2002 crash zone. And as you can see from Figure 2, things are getting pretty congested [...]
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
Weekly Market Review: July 3, 2009