The futures yawned at President Obama’s talk of more stimulus spending and tax cuts. This could be a sign that the market is ready to consolidate or retrace. The ES futures contract has regained 50% of the drop from the April peak. Over the weekend, it struggled to push higher, but hasn’t gotten much traction. The 50% level for the September contract is 1107.00, so that is the level to watch until the open. As of this writing, the ES has hit 1107.25, but was not able to hold up there. The 50% level for the SPX is 1115.36, so if the futures hold up, we might expect the SPX to test its 50% level also.
Matt Trivisonno's Blog
It's the Sovereignty Stupid!
-
-
Recent Posts
Pages
- About
- Call of Fame
- Dow Theory – Ignore It
- Food Stamps Charts
- Fractal Dimension Index
- Fractal Stock Grapher
- How to Post Code in Comments
- How to Post Links in Comments
- Immigration Charts
- Offshoring
- One Way Pockets
- Patterns
- Rank-O-Matic
- Read the Stock Market Classics
- SEO
- Technical Analysis of Stock Trends
- Top Websites by Alexa Rank
- TradeNagger
- Trading Strategies
- Why Chart Patterns Still Work
- Withholding Taxes Chart
Blogroll
Archives
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
Categories
Recent Comments
- admin on American Gulag
- binarylyfe on American Gulag
- admin on Jon Stewart Enters the Matrix
- admin on Jon Stewart Enters the Matrix
- Steve on Jon Stewart Enters the Matrix
-
Meta
-
Copyright © 2012 - Matt Trivisonno - All Rights Reserved
Entries (RSS)
and Comments (RSS).
Hope everyone had a safe holiday.
Watch for the VIX TRIX encore. Closed below lower BB Friday. Matt has cited good levels to watch if we pop first. GL.
JG, hope you did too and all the other regulars here. Great weekend of fun in the Mountains of Arizona! Shot some great golf and enjoyed seeing my friends.
On vacation all week, so will be watching to see how the markets play out to Matt’s and George’s observations while I try to hone my golf game for the club championship next weekend.
Ah!
It was you, JG, that pointed out the VIX BB. I couldn’t remember.
2th,
There ain’t no moss on your buns. Good to see you enjoying Wild America.
Here’s SPY in a daily channel near its top resistance line.
http://i56.tinypic.com/dh8jet.jpg
GEORGE
do you know what the name of this thing is????
hint: it is NOT the stock market
http://www.topnews.in/files/rocket-launch-japan.jpg
STRING
going to sell 1/2 of 30 yr bonds bought on friday bond smash on next push up near 50% retrace of C wave down
bonds should make new highs soon
but this correction may be only half over
ie…this rally could be the B wave… then more correction
here come da push
sold 50k 3.5% treasury bond due 2/39 for a gain of 2.1 points
p
Are you talking about this rocket?
http://i54.tinypic.com/107mgeg.jpg
Daily gap fills beginning today? SPY on its 15min 36MA support.
p
Nice trade on that treasury bond. Keep batting!
Lets see if we fill 1090 gap today and hold
G
thanks
TNX is not the rocket…i think we test the lows in tnx..ie its a DRILL….lol
i think the new LAUNCH is the dollar
it has cleared the launch pad but has not reached escape velocity yet
ps just sold 40% of the 10 yr notes also bought fri in bond smash
i think i can buy them back cheaper later this week near 10and 30yr auctions
P dollar up stocks down
finnys down 1.5%
SCOTTY…
for now …..YES
phil says:
September 2, 2010 at 10:23 am
dollar correction looks about over
stocks have been correlating inversely quite well
dollar will soon look like this:
http://media.defenseindustrydaily.com/images/ABM_GMD_Test_Launch_2001_lg.jpg
Ah, the dollar. Goes up with commodities too, I think.
G
usually the opposite
Gotcha
going to buy back some SCHX on this next plunge
had sold it all at the close friday
P you thinking we break down from this 1090-94 gap fill
Finnys picking up steam to downside now down 1.8%
bought back 1/3 near 1095
scotty…
not sure..if we close below 1090 …head for the hills
1090 is a key pivot..
george FYI by coincidence 36 dsma is at 1090….interesting eh?
Here you there Phil
Dollar going straight up,think we keep heading down
scotty
thats why im not too anxious to buy here.. this lull could be the midpoint of the correction
If we break through heavy support at 1090 me thinks 1081 comes quick
exactly…
its 15 spx points down on futures just to reach .38 retrace of this last wave
Wow dollar up another .10
scotty
http://www.topnews.in/files/rocket-launch-japan.jpg
p
You have enough rockets to start a war.
Smallcaps starting to get hit
UYG filled Friday’s gap intraday.
added more tza, punted vxx
I thought today would be kickin’. Turtle trading instead.
I wonder how rare it is to close somewhere in the between a gap (Sep 3), seems like gap fill tomorrow will take us lower at open
I meant gap on SPY, sorry
Name that pattern on the SPY 5min:
http://i54.tinypic.com/2zh01o2.jpg
Funky?
Expanding triangle or a megaphone….usually means down. EWavers would call it a 4th wave with a 5th wave continuation downward to finish the impulse. What did I win Johnny? {cue game show music}
Sam seeing small move down than a test to 1112-1115 this week, anyone see this or am I in left field?
Sam,
Not a funky chickn.
2thfixr,
The megaphone is what I’m seeing too. Sadly, this isn’t a daily chart.
oops not funky chicken
Its a bit of a confusing pattern, the lower seems to be a falling wedge (calls for a reversal) the other longer one is indeed a megaphone .. Given today’s volume was kinda thin (even compared to last week) .. id say 50/50 for tomorrow except for the gap closing which would make it 51/49 for a bear market in my book ..
Scotty, I’m prolly thinking the same. but not sure if it’ll be a small move down, simply cause, the 1040 level and the 1100 levels that we’ve bounced off recently are not a Fib ratio levels. I like my trendline connecting Apr, Aug and Sep highs (we bounced off the Sep today). Also, the big rally last week on relatively small volume isnt much to my liking.
VIX had an up day, getting above its lower BB. It gapped intraday as high as the 60min.
Thanks Sam