Market Talk / Feb. 8th - 14th.

[Spaf]

Market Talk
Monday
February 09, 2009​

General Commentary:

There may be some good signs for the market while the fundamentals get repaired. The good news is that the greedy rich cats are getting a fair amount of scrutiny. Folks are just tired of them, and the companies they represent are falling from favor. Some folks say that they are necessary for capitalism, but the vast majority don't seem to agree with that arguement.

A look at the chart(s)
The S&P500 [$SPX] Daily
Large Caps

Charts courtesy of www.StockCharts.com​

Pricing remains slightly under the 50dma.

The Bollinger Bands are showing a reduction in volatility.

The P-SAR is still holding bullish.

Volume has been fairly high.

The S-STO is holding the neutral range, between over-bought and over-sold levels.

The MACD is on a slight positive rise.

Well, that's it to start the week!​

Be careful out there!​

 

[Prozium]

878 is a higher high. Big test since if that faills you can see the massive head and shoulders with 944 being the head.

 

[tsptalk]

Thar she blows... -300

 

[Prozium]

Thar she blows... -300

Right shoulder failures are fast and very painful. Which means we are setting up for a bounce. SPX 840 looks like the area it will be all hands (and spin) to hold.

Problem with TSP restrictions is it is impossible to play this. Since we are all ready after the deadline.

G fund for me.

Can't seem to post charts anymore. Check out 840. That is first major long term support.

http://stockcharts.com/h-sc/ui?c=$SPX,uu[h,a]daclyyay[pb50!b200!f][vc60][iue12,26,9!lc20]

 

[tsptalk]

Can't seem to post charts anymore.

As a picture or attachment?

 

[Prozium]

I did not want to waste your bandwidth attaching charts. I will just provide links.

SPX 840 is a battle. If that fails we will be at 819 in a blink of an eye. Bad thing is 819 is very week support. Next good support is 804.

I still think we are taking out the November lows on this move.

 

[XL-entLady]

Can't seem to post charts anymore.

I've had that problem (posting pictures) ever since I got my new computer with the d****d Vista operating system. When I try to paste it from my clipboard, the paste option is greyed out. :worried: Is that what you're dealing with, Prozium?

I can still post attachments I think, but I never slow down long enough to make a file and attach it.

Lady

 

[Prozium]

Lady

Thank you Lady. It seems Stock Charts does not linking their charts anymore, since that is using their bandwidth. Everyone is counting pennies on everything and anything.

They are really trying to hold 840. Fun to know key support levels to watch them game playing. With a 10 year and a 30 year auction to come this week. This is a good time to scale into the inverse ETFs. Once 840 goes it is going to flush. Put a stop at SPX 847. SPX 845 is now overhead resistance. Once that resistance is pushed through it is blue skies to 916.

Sorry to hear about your Vista experience. It seems to be to common.

 

[Prozium]

Once 840 goes it is going to flush.

 

[Prozium]

China's January exports slump at fastest rate since 1998

http://www.marketwatch.com/news/story/chinas-january-exports-slump-fastest/story.aspx?guid={159F5691-4812-41B2-9307-34EB5F6D19A9}&dist=msr_1

China closed 67,000 factories in the last 5 months. Civil unrest is a real possibility.

 

[tsptalk]

US Gov't is going to subsidize mortgage payments?

The plan is to redetermine the "fair value" for their homeowners who are underwater, recalculate their payments, then the Gov't pays the difference.

Hey, that one girl they interviewed before the election was right about Obama. She won't have to pay her mortgage.

http://www.youtube.com/watch?v=P36x8rTb3jI

 

[CountryBoy]

he Gov't pays the Diff, I think it'll be us folks who'll pay the diff.


This lady won't have to pay for car and she'll be rich at the end of the year. (shakes head in disbelief)



http://www.belch.com/blog/2009/01/2...car-payment-because-barack-obama-is-now-pres/

CB

 

[Gumby]

Hey, that one girl they interviewed before the election was right about Obama. She won't have to pay her mortgage.

http://www.youtube.com/watch?v=P36x8rTb3jI

I laughed when I saw that clip and thought....lady get a clue. I guess she was right.....maybe she is right about not having to worry about making her car payment also.