Holding 1773 & Market Internals

December 13, 2013 1:43 pm / Published in Market Internals, Market Update, SPX, SPY
The Market is holding the 1773 level mentioned yesterday. We changed me SP500 contract to ESH4 The is cash entering NYSE and Nasdaq which might help the market to trade higher the rest of the day. Next week we might see a slow recovery specially in the emerging markets. Bellow we can see the price

Update

December 12, 2013 4:07 pm / Published in Market Update, SPX, SPY
The market managed to close above the 1773 level marked on the chart and in the hourly chart did not close below the level. Tomorrow, a Friday 13, I will be watching the levels again. It could be that we need some time to digest yesterday sell off. If see range trading for some time.

Lastest Drop Since August and Trade Update

December 12, 2013 12:23 pm / Published in Market Update, QQQ, SPX, SPY
Stocks Lower as Tapering is Being Priced In! Stocks on Wall Street opened higher thanks to a strong retail sales report and jobless calims. Investors sold into the rally pushing indexes lower as obstacles for a tapering are removed one by one! The market is in the midst of its biggest weekly drop since August.

Market to the down side

December 11, 2013 4:13 pm / Published in Market Update, SPX, SPY
The Market tested 1800 and failed, later tested 1785 and fail and later tested 1780 and found support for now. We have to wait until tomorrow to see if this levels are cheap enough for the bulls. If we break 1775 we can see much lower levels around 1750 which would be a considerable retracement

News & SPX

December 6, 2013 1:09 pm / Published in Market Update, SPX, SPY
Stocks Higher on December Job Report! Stocks opened sharply higher thanks to the better than expected monthly nonfarm payrolls report. The jobs report was the best since November 2008, with headline unemployment of 7.0%, although the work participation rate is near its lows. The Reuters/University of Michigan consumer sentiment index for December beat expectations with

SP500 and VXX

December 3, 2013 11:42 am / Published in * Trade Alert, Market Update, SPX, SPY, VIX, VXX
The SP500 is trading below 1800 and currently is testing today’s lows. The next stop could be the 20 days SMA which is about 10 points away. If we see such correction it would be about 1.7% from the highs of 1810+. The VXX is trading higher last 5 days and we expect to see