November 30th, 2009

Thanksgiving is over.

What happened on Friday action!

The bull side perspective:
1. SPY opened at the low and closed higher. It formed a white bar.
2. SPY opened at the 108 support level.
3. There is a morning gap to be fill on Friday.

The bear side perspective:
1. SPY make lower low and lower high than last Wednesday.
2. SPY crossed below the 13 day moving average.

Where does the market go from here?
The SPY bounced off from 108, a good support level. First SPY needs to fill the morning gap from Friday. Secondly, we have to see how it closes the gap. Finally, if SPY bounces off from the morning gap and decides to go back down and below 108 level, then the market is going down. If SPY breaks above the Friday morning gap and closes higher than that, the market is going much higher.

November 25th, 2009

Again watch the dollar currency at 75. Watch the VIX closely as well. The stock market is continuing to remain above the 13 day moving average and 13 day moving average is still going up.

November 24th, 2009

The market is trying to close the morning gap from yesterday. As yesterday close, SPY failed to close above 111.00.

November 23rd, 2009

Ok. The market gapped up this morning. It filled the gap from last week drop. But now the market had a gap from this morning.

November 20th, 2009

SPY had trouble breaking above 109.75. If it does, it will go back up to fill the yesterday morning gap. If SPY breaks below 109, it is going back down to 108.

November 19th, 2009

Two things to watch out for today. On the downside, watch SPY at 110.50. If SPY breaks 110.50, then it could go down to 109.5 level. On the upside, watch the market how it closes the morning gap.

November 18th, 2009

The market will probably open flat. Yesterday action the market make lower high, but higher low. There are still two gaps to fill below.

November 17th, 2009

Today I am looking for lower high and lower low from yesterday. Also I am looking to fill the morning gap from yesterday.

November 16th, 2009

The market will gap up at the opening. Watch how it closes the morning gap. Also watch how it closes today. If QQQQ closes above 43.80 and SPY closes above 110 area, it might be time to go long.

November 13th, 2009

Today is the Friday 13th.

Sorry for the delay. It is work related that I couldn't post it in the morning.

November 12th, 2009

In order for the market to reverse back down, it is important that it needs to make lower high and lower low from yesterday and it needs to close below yesterday low. I am expecting SPY will hit 108 again this week or next week.

November 11th, 2009

The market will gap up this morning. I will be the first one to say that this gap up will favor the bears in the next 1 to 5 days. This is a sign of topping out.

November 10th, 2009

I don't really know what to make yesterday action. It is a trap for longs or a short squeeze for shorts. In 2 out of 3 trading days the market make closing over 200 points move. Eventually, I believe the market will make 300, 400 and even 500 points move. It usually traded in a closing narrow range in the past months or so. Don't be surprise of a big move in the future.

November 9th, 2009

This is what I expected from Friday to open higher on Monday. SPY had hit my last target at 108.

November 6th, 2009

The market will open down. It means that SPY will gap down below 106.50. Again watch SPY closely about closing the morning gap.

November 5th, 2009

The premarket action is pointing up. It will probably open where its broke down yesterday in the afternoon. It seems like 106.50 is a very resistance for SPY.

November 4th , 2009

Sorry for the delay. I have a big long meeting this morning and I couldn't get out.

The first target of SPY had been hit at 105. 106.5 is next.

November 3rd, 2009

The morning gap down favor the longs. It opened at the almost low as yesterday. It means it had a support there. There are 3 targets for SPY for the upside.

1st target = 105.
2nd target = 106.5
3rd target = 108

November 2nd, 2009

It is slightly up in the premarket. There is no gaps between the current price and 110.30 for SPY.
There are still some gaps to fill below. For a shorter term, if SPY breaks below 102, it can go to 94 to 95 area which is 7 or 8 points from here. If you add 7 or 8 points from 102, SPY is at 109 to 110.
It moves 7 or 8 points trend.