Market Snapshot 2009-04-22

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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

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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.