Rusty Market Musings » DJTA http://blog.laenasinvestments.com A market diary and trading ideas repository Sat, 22 Aug 2009 13:52:40 +0000 http://wordpress.org/?v=2.8 en hourly 1 20/07/2009 New highs http://blog.laenasinvestments.com/2009/07/20/20062009-new-highs/ http://blog.laenasinvestments.com/2009/07/20/20062009-new-highs/#comments Mon, 20 Jul 2009 22:14:05 +0000 LtPinback http://blog.laenasinvestments.com/?p=1056 Almost a complete close-the-gap move in the first 80 minutes followed by a nice upward trend for the rest of the day. Volume was well below average.

S&P 500 Index 5min Chart

S&P 500 Index 5min Chart

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S&P 500 SPDRs 5min Chart

S&P 500 SPDRs 5min Chart

CIT Group Inc (CIT) reached a deal with bondholders for $3 billion in emergency financing and the index of leading economic indicators increased in June for the third straight month, suggesting the recession is drawing to a close.

Strict Dow theory marks today as the start of a bull Market in the weekly charts of the DJIA and the DJTA.

S&P 500 Index Daily Chart

S&P 500 Index Daily Chart

]]> http://blog.laenasinvestments.com/2009/07/20/20062009-new-highs/feed/ 0 Overextended and some warning signs but still trending good http://blog.laenasinvestments.com/2009/04/13/overextended-and-some-warning-signs-but-still-trending-good/ http://blog.laenasinvestments.com/2009/04/13/overextended-and-some-warning-signs-but-still-trending-good/#comments Mon, 13 Apr 2009 22:59:53 +0000 LtPinback http://blog.laenasinvestments.com/?p=476 Market gaped down and remained directionless around the 850 level until 1:00pm where a rally to test Thursday’s high took place. Price remained at those levels for a while but again took off to new highs around 3:00pm. This last mini-rally was somewhat negated by a sell off that took price to a level close to Thursday’s high in the last 20 minutes of the trading day. VIX rose 3.50 percent. Volume was average.
S&P 500 Index 5min Chart

S&P 500 Index 5min Chart

S&P 500 SPDRs 5min Chart

S&P 500 SPDRs 5min Chart


Market optimisms continues on the Banking Sector’s strength due to an expected very good totally unfabricated (wink wink) earning season. GM was directed by the Government to prepare for a fast “surgical” bankruptcy (whatever that is). The news didn’t seem to affect the market at all.
On the technical side a 2nd close above the 850 key level is good but some warning signs should be considered. Many indicators are in short-term overbought territory. The VIX rose 3.5 percent. Early in the trading day the more defensive Health Sector was showing relative strength as if market was expecting a reversal to happen at any time now. DJTA is not leading (this one is for the purists). Finally, this time around profit taking took place at the end of the trading day so at least some long positions are being cautious.
S&P 500 Index Daily Chart

S&P 500 Index Daily Chart

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