From Roller Coaster (Trading Day 2011-09-27):
The NASDAQ 100 is back inside the upward channel. Yesterday’s rise was somewhat strong, so perhaps it’s signalling more gains in the market. It’s interesting to note that the EMAs are flat and clustered, which may suggest the market is becoming rangebound. The critical resistance levels higher up will be important to watch if the market continues to rise.
From Tze (Trading Day 2011-09-26):
You can download the ENTIRE stock model for this week (including top 50 longs and top 50 shorts) here: FocalEquityStockModel_20110926
We had a devastating week for stocks. Unfortunately, we do not think the market is going to get any better from here. Don’t be surprised if we break the August lows in October. Things are set up now for that type of a scenario. Look at the chart below:
Here we can project that the index is at most going to bounce back up to 1200 and then tank possibly 10% or so and find support at 1075.
Here is our stock highlight for Monday (2011-09-26):
NIKE, Inc. (NYSE: NKE): NKE’s share traded higher on Friday partly due to its strong earnings forecast for 2012. The stock does not exhibit any sign of bearishness but it does rank poorly in our stock model, 3,448 out of 3,514. The poor ranking is partly due to its valuation related metrics. We should at least expect NKE to test the 50 SMA between the $83 to $84 level.
S&P 500 choppy, but climbing up.
Yup as the market continues to rally up up and away it just will not stay down.
As ANW moves up the market is rallying hard. There must be some good news with Greece is my guess.
Hm… do not short as this is the end of Q3, there will be a lot of window dressing from the institutions. Wait until the later part of October or SP reaching close to 1200. It won’t be pretty.
Dollar is being crucified today. It’s just amazing how the whole world gets excited about raising the credit limits on anything as the debt keeps getting deeper and deeper with no way in hell to ever pay it back.
Exactly. This debt will continue to pile until the whole system collapses. I wonder what we need to prepare for survival in the near future haha.
Good point about being the end of the quarter and end of the month.
Also there is quite a bit of short covering going on as both long and short investors are really nervous about government interventions and macroeconomic factors. This is the most dangerous part relating to the market.
They don’t seemed to scared right now as we are up almost 300 points on BS. Hedge funds are making this market look all nice n rosie for end of quarter. Who the frick are they kidding?
ANW is retreating fast look for the market to lose some air. Maybe people are rethinking this crazy Europeon tarp crap as pure BS.
Market definitely is coming off its intraday highs but sentiment at least has turned around. Just be patient if you want to make money on the short side.
Ok market is doing just as I predicted financials are falling as down comes the market. Hold on folks.