Market Wrap 5/13/2009

Haven't been posting much lately. Have been wrapped up in a couple new trading strategies that are doing quite nicely. Will be trading them live soon...

Today was a 90% down day according to my self-made chart. The McLellan Summation is also turning down and about to cross its 10 day SMA. Stocks above their 50 day SMA is also starting to turn down. Gold is starting to go up. The S&P topped out at 930 so far, right below the 10 month SMA at 933... hmmm!? The S&P 5 day SMA is about to cross below the 9 day SMA, the first time since early March. The S&P also crawled above it's 13 wk SMA last week. Haven't had a full week above that SMA since Sept 2007!!

Today was also a distribution day for the S&P 500, DJ30 and NYSE. Have about 5 dist. days for the S&P for the past number of weeks which isn't good either.

No reasons to get excited. Some form of pullback is still coming and an eventual woosh to the bottom at some point...

Market Snapshot 2009-04-22

We're approaching a top in the S&P. Most are looking for a reversal. The S&P is at a 23% fib retracement.

Also testing resistance at $880.

The stocks above their 40 MA is also topping (bottom graph).

Ninja Trader

Haven't posted in about two weeks!?

Played with Ninja Trader today. Love the crisp charts and like it a little better than QuoteTracker. A little more control over the chart formats, like dashed lines, candlestick sizes and indicator pane placement/overlap. The fib tool has a auto-complete feature that saves a bit of time. The ability to add indicators to the watchlist so you can do live screening is cool. It's a little slow to load charts, but that's mainly due to using TD Ameritrade as the quote source (same as QuoteTracker).

All my setups for today were green, except for one - GOLD.

Market Wrap 3/23/09

Markets up huge on toxic asset buyout plan announced pre-market. Of course, the only day in months that I decide to sleep in. Most of the move was done by ten, and then about the time I got bored and went to run some errands, the market crept up some more in the late afternoon.

I don't even have to load my indicator charts to tell it was a 90% up day today.

Oh well... doesn't get much greener than this...

Market Wrap 3/18/09

Another big day in the markets. It was a choppy day up until Big Ben spoke that they've got money to burn. The markets took off after that for a nice little rally and then pulled back a little. S&P finished just under 800, the magic turning point.

My system suffered a lot of chop-outs, but was able to recover with a small loss on the day. Over traded and didn't wait for the news to unravel...