Today, the Market appears set to open higher after a a number of positive economic reports were released. Pre-Market, the SPY failed at the recent 111.60 resistance level. The levels we are watching in the SPY today are 111.60 for resistance and 110.80 for support. Below 110.80, we expect a move down to 110.50. Below 110.50, the next support level … Read More

Today, the Market appears set to open slightly higher. The levels we are watching in the SPY are 110.70 for support and 111.60 for resistance. If we start holding above 111.60, we could see SPY 112+. If we start holding below 110.70, the next major support level is SPY 110.00. Our best AM Idea for today, which we highlighted in … Read More

Today, the Market sold off for most of the day after a strong drive on the Open. In the afternoon, the Market touched the Opening lows and had a modest bounce. Into the Close we don’t expect a big move, but if the SPY hold above 111.10, we could see a move to 111.35-111.50. If the SPY take out the … Read More

Today, the Market appears set to open higher after comments over the weekend from Chicago Fed Evans that interest rates will probably remain near zero into 2010. The weakness in the dollar is helping push gold to new highs, and also the catalyst for the strength in other commodities. The levels we are watching in the SPY are 110.50 (inflection) … Read More

Today, the Market touched SPY 109 in the middle of the day the before making a modest attempt to rally later in the day. Into the Close we don’t expect a big move in the Market as the volume in fairly light. We are watching SPY 109.70 for resistance and 109 for support. Our best idea into the Close is … Read More

Today, the Market appears set to open lower, continuing the weakness from yesterday. Overseas markets were down, adding to the pre-market weakness in the US. Commodities are also weighing on the Market due to strength in the dollar. The levels we are watching in the SPY are 109.60 for resistance on the upside and 108.80 for support on the downside. … Read More

Today, the weakness in the Market continued for much of the trading day.  The Market easily took out the pre-market lows on the Open and has consolidated in a tight range for much of the trading day.  If the Market can stay above 109.50, we may see a rally up to 110.00 into the Close. Our best idea into the … Read More

Today, the Market appears set to open lower after a negative reaction to the in-line initial jobless claims number. The levels we are watching in the SPY are 110.50 (inflection point), and 111.00 as potential resistance. The next resistance level above 111.00 is 111.50. On the downside we are watching the pre-market low, 110.25. Our best AM Idea for today, … Read More