03/08/2009 S&P 500 broke 1000
Uptrend mode continues. Volume was below average.
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ISM manufacturing index in July jumped a very big 4.1 points to 48.9. Market reacted with a strong move upwards that took the S&P 500 above the 1000 points line.
Uptrend mode continues. Volume was below average.
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ISM manufacturing index in July jumped a very big 4.1 points to 48.9. Market reacted with a strong move upwards that took the S&P 500 above the 1000 points line.
Market opened with a gap lower and a classic close-the-gap move to the previous session’s low that was quickly followed by a steep sell-off that printed 886.36 is the S&P 500. From there the market managed a slow upward trend to end barely in the green. Volume was below average.
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A very volatile session with all [...]
Another day of consolidation. Market opened almost flat then tested support around 825 and from there printed higher highs and higher lows. The day ended with a last minute rally that took the S&P 500 to just under yesterdays’ high. Volume was averageonfarm payroll employment in March fell 663,000 which was a bit worse than [...]
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. [...]