07/05/2009 Winds of change?

Posted on Thursday the 7th of May 2009 at 23:10 by LtPinback

Sell-off from beginning to end. A bit of buying at the end. Volume was huge.
Profit-taking got out of control after a bad sale of Government debt. Technology Sector got hit worst on a number of downgrades but selling was broad-based with the usual defensive play in the Health Sector. A consolidation period at this [...]

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Overextended and some warning signs but still trending good

Posted on Monday the 13th of April 2009 at 23:59 by LtPinback

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 [...]

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Rally holds on green week

Posted on Friday the 13th of March 2009 at 23:20 by LtPinback

The day started positive but choppy with bulls and bears fighting to get control of the ticker. 750.00 on the S&P was recognized as a key support/resistance level early on. The bears were able to drive price below it initially but bulls took charge after 12.00am and progressively drove the market upwards, ending the day [...]

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Consolidation?

Posted on Monday the 9th of March 2009 at 23:16 by LtPinback

Everyone was expecting a rally from the oversold market. They got one lasting 45 minutes. Then it was lower highs with lower lows for the rest of the trading day. No new lows were printed. Volume was average. It seems to me like consolidation taking place. Also the day was light on economic news.
Big Pharma [...]

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Crash mode. Fear. No capitulation

Posted on Monday the 2nd of March 2009 at 23:37 by LtPinback

Consistent and orderly sell off from the start of the day with increasingly fear. Bulls couldn’t or wouldn’t firm up bids. Sell off accelerated after a minuscule rally failed (rally led by Financial Sector, most likely shorts taking profits). In the last half hour of trading, the S&P 500 hit an intraday low of 699.70. [...]

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