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Options and Stock Market Technical Chart Analysis for June 29, 2009 by Idan Koren
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Rate:
11 ratings
Views:
722
From : u05ikoren
Added: Jun 30, 2009
First of all I want to go ahead and admit that I was wrong when I said that the market would go up early in the morning and then reverse in late trading to fall about 1-1.5%. That was my intuition but it obviously didn't happen. The market continued to stay at very strong resistance but failed to break it. It looks like my down day might get delayed by a couple of hours and take affect either tomorrow or the day after. Tomorrow is an important day as it is also the last day of the month. At this point i would rather be more bearish than bullish as we have the H&S formation still in play and a lot of resistance from over head, and today's volume was incredibly low (as low as fridays or even lower). I look at different charts to show how the bearish side looks more promising, but I stay neutral on some action. I view SPY, XLF, GS, AAPL, AMZN, VIX.
Category : Education
Added: Jun 30, 2009
First of all I want to go ahead and admit that I was wrong when I said that the market would go up early in the morning and then reverse in late trading to fall about 1-1.5%. That was my intuition but it obviously didn't happen. The market continued to stay at very strong resistance but failed to break it. It looks like my down day might get delayed by a couple of hours and take affect either tomorrow or the day after. Tomorrow is an important day as it is also the last day of the month. At this point i would rather be more bearish than bullish as we have the H&S formation still in play and a lot of resistance from over head, and today's volume was incredibly low (as low as fridays or even lower). I look at different charts to show how the bearish side looks more promising, but I stay neutral on some action. I view SPY, XLF, GS, AAPL, AMZN, VIX.
Category : Education
Tags :
Idan Koren stocktock Brian Shannon Alpha Trends The Practical Investor Tony SPY XLF GOOG AAPL Trading Technical Chart Analysis Elliot Wave Resistance Support Money Stock Option Market wall street marketguru learn how to TA read charts trade learning basics raging bull big wets gold dollar gs srs ung gas oil FTV june SNP 500 06 29 2009 30 6-29-09 06/29/2009
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