April 30, 2013

The trend is still Bearish on all time frames.  The pivot points would not have worked as well today because the futures primarily traded between R1 and R2.

April 29, 2013 Market Overview and Pivot Play

 The daily S&P chart still shows that the market is in  a bullish market.  The Stochastics have turned upward as well as the MACD is crossing over on a daily basis.  The price is also above the 8 and 21 day moving average

 On the 5 minute chart it was a good day to be long.  You could get in at each of the pull backs to  the 8 period moving average and it matched the 21 period meoving average.

 

The final piece of the puzzle that is interesting is that the futures started out at the pivot point. Several hours before the opening it went to R1 and then right after trading it went to R2 and finally stopped at R3 before turning back down.  The volume was high to start with, but price continued to trend upward all day.  The high volume shows it will be a trending day to start with.

 

Pivot Play 26 April 2013

I am starting to look at different strategies that I could use if I wanted to start day trading.  My life as a SW manager may be coming to an end, and I am looking for other opportunities.  With that, I watched the S&P today and put the pivot points on the chart.  After the first half hour, the price crossed R1.  Opportunity to short it.  When it crossed the pivot, sell half the order and move stop between R1 and Pivot Point with a target of S1.  After it hits S1 reverse the trade and go long, once again sell half at the pivot point and let the stock run to the target at R1.  This is a very classic chart.  I don't believe all will be like it, but I am going to watch it every day for a month to see if I could be successful with this strategy. 

26 April 2013 Weekly Analysis

 The S&P on a weekly basis still shows it is bullish.  The concern is that the stochastic has crossed and the MACD is about ready to.  If that happens then S&P will be mid term bearish. 

The Russell Index is the most telling.  The price is between the 8 day and 21 day moving average for the week.  Also the Stochastics have turned as well as the MACD.  This is starting to show weakness in the market.

26 April 2013 Daily Analysis

 The S&P is still looking bullish.  The MACD crossed over again this week to be bullish.  The Stochastics are looking the same way.  The price is still above the 8 day moving average and the 21 day moving average.

 

The Russell index is also showing that it wants to go back to a bullish mode.  I am concerned with the downturn a few several weeks ago and not being able to make a higher high yet.  Next week will tell if it will turn up.  The indicators still show it is very oversold.