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European Debt: An Elliott Wave Perspective

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Two Major Technical Forces Are About to Collide in the S&P 500

The S&P 500 has seen remarkable recovery from the lows that were seen earlier this year. However, all of that may come to an end as we fast approach a strategic level for this market. There are two major technical indicators that are colliding at a crucial point and time. Unless you’re aware of these [...]

Stocks above their 200-day moving average

This chart should give you an idea of just how overbought things are right now. Keep in mind that things can stay overbought for a while. It does however demonstrate that more stocks are above their 200-day moving average, currently 91.2%, than at the peak in 2007. For you contrarian investors an extreme level like [...]

Imagine not having access to any financial news

Imagine not having access to any financial news stories. The only information you have about the market is the market itself. Would you be a better trader or a less successful trader? I think you would be a better trader. I have often said that the market is the best news provider in the world. [...]

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 – March 25th, 2008

The market traded sideways for most of the day at the highs of the recent move. This allows for the moving averages to catch up and provide support for the market. Today’s chart is of the SPY, which is the ETF for the S&P 500. Notice how the market is begining to break out of [...]

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