How about a thread that is specifically dedicated to updates regarding the current market situation?
Lady
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How about a thread that is specifically dedicated to updates regarding the current market situation?
Lady
This article has a great chart on the ETF market activity during the past week! :)
ETF Rewind - Week 6 (02/06/09)
By Jeff Peitsch | February 07, 2009
"Last week saw a powerful "stimulus induced" upswing that actually left the NASDAQ 100 positive on the year (QQQQ +7.9%). This was particularly impressive set against the backdrop of the highest unemployment levels reported since 1974 (US News - Labor Report).
(Click Image to Enlarge/ Glossary)
In fact, every single one of the tracked sectors and styles ended higher on the week and near breakout levels. By the same token, as we head into the middle of the month with so many indices now well into overbought territory, much will clearly hinge on the market's reaction to Monday's Treasury Announcements and Stimulus Plan Vote (Bloomberg Links). Will February finally provide traders with a breakout of the multi-month range? With the economy still accelerating to the downside, bets will certainly be placed both ways.
Week Seven of 2009 features the following reporting calendars:
Enjoy your weekend!"
- Yahoo! - U.S. Economic Calendar
- Yahoo! - U.S. Earnings Calendar
http://www.greenfaucet.com/earnings/...02-06-09/47101
Lady
Here's this week's market chart from Market Rewind.
http://1.bp.blogspot.com/_uzVbkLlVFK...ek_7_Table.png(Click Image to Enlarge/ Glossary)
http://marketrewind.blogspot.com/
Enjoy! :bigsmile:
Lady
Re: The above chart: Precious metals +340% risk/reward. I'm not sure what that means exactly, but it looks good. :)
This week's chart from Market Rewind:
http://1.bp.blogspot.com/_uzVbkLlVFK...ek_8_Table.png(Click Image to Enlarge/ Glossary)
"Only Precious Metals (DBP) and the Dollar (UUP) managed to post gains of +4.9% and +0.1%, respectively, on a global safety trade. The only other metric showing gains was the VIX (Implied Options Volatility), closing the week back near 50 and stretched +9.2% above its 15-day moving average.
In normal times, this would be a bullish indication, as would the majority of tracked securities showing near- and intermediate-term oversold price index readings (SPY RSI[2] = 1!). However, we are so overstretched to the downside -- this market is clearly broken. Some modicum of positive news flow will be required to turn this train wreck around going into the end of the month. Perhaps clarity on the banking situation will provide that; we'll just have to wait and see."
http://marketrewind.blogspot.com/
Enjoy!
Lady
I'm looking for a move above 778 on the S&P before the close, for confirmation of this rebound. It doesn't even have to close above 778. Just get over it intraday.
Just saw a 779+ print. Cool!
Yesterday's low was 752.89. Flirting with it today. A break would be bad news.
We must hold these lows, or else I'll be making a quick exit out of SSO :eek: