Connect with us
CGIF-10th-Year-Anniversary

Markets

S&P 500 Weekend Update: Technically Neutral

See It Market

By Andrew Nyquist
After pushing higher for much of the week, the SP 500 took investors for a ride lower on Friday. Although the move lower wasn’t so much of a surprise in hindsight, it did catch many bulls looking “up.”

The bull’s excitement was due in part to last week’s shakeout just below the SP 500 uptrend line and subsequent reversal 50 points higher. As well, the index was running on momentum into a band of resistance at 1375. This momentum caused many bulls to look past the 1375 level and up at the old highs (1400+)… but that’s just the short-term psychological take.

In technical reality, the index is hanging out between support and resistance. Overhead is that pesky 1375 level, while the uptrend line provides support below. A sustained move above or below those levels should guide your short term trend analysis.

That said, the conditions have been brutal. A weather report for the markets would probably read partly sunny with a chance of hail. In short, it has been one choppy ride. And this chop wears on investors. The up and down emotional roller coaster tests the very core of our discipline. This is why I try to tune out the noise, slim down my positions, and focus on technical levels and good trading setups during periods of market uncertainty.

I’ve included a chart of the Volatility Index (VIX) for your viewing pleasure. Please note that although the VIX is caught in a downtrend channel that investors must respect, Monday is bar 7 of a daily DeMark buy setup. If this setup continues and indeed records, then I’d expect more volatility next week.

Trade safe. And remember that investors can further define their market risk by monitoring technical setups and support/resistance levels.

SP 500 Daily Chart:

Volatility Index Daily Chart:

———————————————————

Twitter:  @andrewnyquist and @seeitmarket     Facebook:  See It Market

No position in any of the securities mentioned at the time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.

Read more posts on See It Market »

Article Source: http://www.businessinsider.com/sp-500-weekend-update-technically-neutral-2012-7

Boris Sullivan

Published

on

See It Market

By Andrew Nyquist
After pushing higher for much of the week, the SP 500 took investors for a ride lower on Friday. Although the move lower wasn’t so much of a surprise in hindsight, it did catch many bulls looking “up.”

The bull’s excitement was due in part to last week’s shakeout just below the SP 500 uptrend line and subsequent reversal 50 points higher. As well, the index was running on momentum into a band of resistance at 1375. This momentum caused many bulls to look past the 1375 level and up at the old highs (1400+)… but that’s just the short-term psychological take.

In technical reality, the index is hanging out between support and resistance. Overhead is that pesky 1375 level, while the uptrend line provides support below. A sustained move above or below those levels should guide your short term trend analysis.

That said, the conditions have been brutal. A weather report for the markets would probably read partly sunny with a chance of hail. In short, it has been one choppy ride. And this chop wears on investors. The up and down emotional roller coaster tests the very core of our discipline. This is why I try to tune out the noise, slim down my positions, and focus on technical levels and good trading setups during periods of market uncertainty.

I’ve included a chart of the Volatility Index (VIX) for your viewing pleasure. Please note that although the VIX is caught in a downtrend channel that investors must respect, Monday is bar 7 of a daily DeMark buy setup. If this setup continues and indeed records, then I’d expect more volatility next week.

Trade safe. And remember that investors can further define their market risk by monitoring technical setups and support/resistance levels.

SP 500 Daily Chart:

Volatility Index Daily Chart:

———————————————————

Twitter:  @andrewnyquist and @seeitmarket     Facebook:  See It Market

No position in any of the securities mentioned at the time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.

Read more posts on See It Market »

Article Source: http://www.businessinsider.com/sp-500-weekend-update-technically-neutral-2012-7

Jump to original:  

S&P 500 Weekend Update: Technically Neutral

Comments

Forex

How to Trade the EUR/USD Currency Pair: Professional Tips

The behaviour of the EUR/USD pair is a kind of indicator showing the comparative condition of the US and EU economies. If the US economy steadily grows, and problems arise in the EU, the EUR/USD decreases.

Pr News

Published

on

By

EUR/USD is one of the most popular currency pairs for Forex trading. Since the beginning of trading in 1999, the currency pair has undergone significant changes. For the first two years, the future for the euro was uncertain and the quotation was declining, reaching a minimum of 0.8200.

(more…)
Continue Reading

Markets

Thailand remains ASEAN’s largest Exporter of Vegetables

Currently, the kingdom has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables, including China, Hong Kong, Australia, New Zealand, Japan, Chile, Peru and 6 countries in ASEAN.

National News Bureau of Thailand

Published

on

Thailand has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables.

LAMPANG (NNT) – Despite economic stagnation and border closures, due to COVID-19, Thailand remains ASEAN’s largest exporter of fresh refrigerated vegetables, while being 14th in the world.

(more…)
Continue Reading

commodities

Gold rush hits Thailand as prices surge

The value of gold has rocketed by Bt7,000 per baht weight since the beginning of this year, generating returns of over 20 per cent.

Avatar

Published

on

Photo : Adam Jones

People flocked to sell their gold at China town. The Gold Traders Association announced the buying and selling prices of gold has increased by 50 baht to a historic high.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,520 other subscribers

Trending