Saturday, November 24, 2012

S&P 500 close 11/23

So this is the worst part about being a bear: big price moves on very low volume days.  S&P 500 closed at 1409 so above the resistance level of 1400 and definitely out of its technical ranges for a bear move.  However, the charts still say we move lower, and with the low volume (over the three days) the move up is not technically that strong.  I think we definitely retest 1400 and probably 1375 pretty quickly.  After that we either bounce off 1375 and start the Santa rally or we'll be staring at 1350. 

Thursday, November 22, 2012

Article about a new twist in personal investing

I found this article about investment advice on cnbc: I like the direction Alexa is going. I have had experience with bundled low cost financial planning and it typically lacks an individual touch. But let's she what she can make of it

S&P 500 close 11/21

Another pretty tight range leading to a small gain of 3 for the S&P 500. Nothing much has changed. Long term still has strong bearish signals and short term is growing slightly weaker. Light volume dictated the trading day so not much can be derived from the move. Next week should be interesting with the EU leaders in Brussels trying to figure out Greece. Have a Great Thanksgiving America!

Tuesday, November 20, 2012

S&P 500 close 11/20

We'll call this a draw. S&P crisscrossed between positive and negative without much determination. Which gives an option B for this week: No one is going to commit to large decisions during the holiday week. I would probably expect more of the same tomorrow. Indicators are looking a little shaky short term and have the same bearish strength long term. I'm leaving my market at red for the time being. I still expect a retest down to some degree but it will probably be next week.

pre-market footnote from last night's post

The S&P 500 ticked up to that weekly trend line that I have been referring to. It also touched a newer resistance line that has formed with the recent downturn. We should know pretty quickly which direction the market wants to go.

Monday, November 19, 2012

Stock Picking and the Stock Market

I came across the article on CNBC's website:  It hit on a couple of topics that I feel are a growing trend in the investing arena.  Although it does premise active investing is on its way out, I feel this occurrence would only be relegated to institutional level investors and managers.  It does touch on the differing facets of ETFs and the demise of stock picking in general.

S&P close 11/19/2012

Strong day with the S&P 500 finishing up 29 at 1386.  Brings us to the top of the bearish range.  The market needs to hold above 1375 to maintain the momentum.  VIX got crushed down to 15.24.  This where it gets tricky, indicators are still pointing bearish.  The next two days will be interesting with light volume expected because of the Thursday holiday.  If we begin to falter I think we will tank down to 1350 in a hurry.  1400 is the resistance level at the moment.