The market opened with a gap lower and at the LOD. A timid classic close the gap rally was printed followed by a retest of the LOD. From there price entered into an uptrend straight to the Pivot Point where substantial resistance was encountered. Once the resistance broke price bounced from the 850 key level [...]

Monday trading opened with a big gap down that followed with profit taking and a bit of relief buying at the end of the day. Volume was average. VIX rose 10.96%The government told GM and Chrysler that they have 60 more days to put their act together or face “orderly” bankruptcy. GM CEO Rick Wagoner [...]

A bit of chopfest until 12:00am for the scalpers, a rally to test yesterday’s high  for the daytraders to take profit or to initiate new short positions and finally a sell off almost to the 800 support for the bears and those bulls that like healthy retracements. Volume was average and trending down.
Congressional hearing with [...]

Market opened on large positive gap and rallied the first hour of trading to the 800 resistance level. Then price oscillated above and below that level without any clear direction until 2:15pm when volume exploded taking price to the upside huge and ending the day printing a +7.08% day for the S&P 500 Index. Volume [...]

The market opened green on rumors of a bottom. Fading the gap commenced immediately after the start taking the S&P 500 to new lows. Volatility was due to the Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner testimonies before the congressional committee. Bernakle’s effect was negative while Geithner’s effect was somewhat positive ultimately [...]