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$SPY Elliott Wave Update – 8/11/2009

It’s looking more likely that the correction has begun as declining volume exceeded advancing volume by over 4 to 1 today, the lowest reading since early July. The market also broke below it’s uptrend channel (green lines) signaling a change of trend. Currently the market is sideways as the bears couldn’t break through last Thursday’s [...]

Market Update 6/28/2009 $$

The jury is still out on whether we get another high or we re-test the March lows. For those of you that are more focused on the short-term I threw together a quick Elliott Wave count on the 15-minute SPY. If wave C is complete, a strong possibility since we’re in the area of the [...]

Market Update for Tuesday 5/18/2009 $$

What a nice day in the market! Last week I said I thought we’d get a push to the 950 area in the S&P. Today’s bullish action may have ignited the move. On Friday SPY close beneath the red trendline but managed to open right on top of it today, squeezing the short sellers. My [...]

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Market Overview – September 29th, 2008

It’s been a while since I’ve posted a Market Overview since I’ve been focusing so much on trading with the prop firm I recently joined. I’ve found that controlling emotions in the daytrading game is much more difficult than the swing trading game. The funny thing is the analysis is the same, it’s just the [...]

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