June 25, 2007 Market Recap

The Bulls and the Bears in the DOW were struggling today. Notice the large range yet the open and close were very close to each other. The low is still not lower than the low 12 days ago. If it breaks that it could continue to go down. The Stochastics are getting close to oversold.
The S&P also had the bulls and bears struggling. I am waiting for the low 12 days ago to be broken. Once again if the market moves up tomorrow it will confirm that the bulls and bears are struggling even more. There may be a nice rectangle forming.
The NASDAQ still has a nice trendline going up. The high 4 days ago needs to be broken for the Bulls to win. The low 12 days ago needs to be broken for the Bears to win
Once again I am waiting to see if the Russell 2000 will close below 820. If it does, the Bears are definately in control. For this time of year I would expect the Bears to be more in control.

Overall the market is down for the short term, yet the long term the market is up. The mid term is up in the air.

Potential Swing Trades:
For the High of Low Period Trading
Buy: STRA, WAT
Sell: ELY, TPX

For the KST Trading System:
Buy: No signals generated
Sell: CXW, ELY, DD, RIMM

Trend Pullback Trading System:
Buy: BUCY, MTN, PWR, RIMM
Sells are generated by stop losses. Need to evaluate where the Stop Loss should be set to.

I will describe the last system in a future post.