Market Talk / Mar. 22nd - 28th

[Spaf]

Market Talk
Monday
March 23, 2009​

General Commentary:

Will the consolidation bring fruit or a another trap? Hopefully the market can see some optimism as buy-out plans get placed with improvements in the (economic) fundamentals. The market made some strong moves off recent lows but begain to fade as the week ended, hopefully it was just a breather.

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

Charts courtesy of www.StockCharts.com​

Pricing remains just under the 50dma, which shows as a resistance level.

The Bollinger Bands still indicate moderate volatility in the market.

The P-SAR has kept a bullish indication, so far.

Volume has been somewhat above average.

The S-STO is in overbought levels (above 80).

The MACD is at the crossroad of positive vs negative.

Well, that's it for the charts and stuff!​

Be careful out there!​

 

[tsptalk]

The S&P is flirting with 800 this morning, an area that appears to be a technical resistance area. These news events ($1 trillion infusion) can easily move the markets to what seems unreasonable. I would be surprised if the S&P can stay above 800 very long, but there is always the chance of a move to the 200-day MA, or even, that the bear market is over. But there's also a chance that the Cubs will win the World Series - it just never happens.

 

[Spaf]

The S&P is flirting with 800 this morning, an area that appears to be a technical resistance area. These news events ($1 trillion infusion) can easily move the markets to what seems unreasonable. I would be surprised if the S&P can stay above 800 very long, but there is always the chance of a move to the 200-day MA, or even, that the bear market is over. But there's also a chance that the Cubs will win the World Series - it just never happens.

Maybe we need a shot of some of Birch's brew!......

http://www.tsptalk.com/mb/showpost.php?p=214261&postcount=5192.....

 

[Birchtree]

The 200 day MA on the SPX is currently at 1031 - if we hold this momentum it's very reachable before the next six trading days end. We want to keep as many folks bearish as possible during this big V move up. Now that the 12 year Kress cycle has done its damage, the newly formed 6-year up cycle is gaining in strength and becoming dominant. This rally is very broad based. This market has succeeded in eliminating all those who were encouraged to sell their stocks for emotional reasons and thus has lightened the over head supply.