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Video Update ~ What Friday’s Market Action Meant

Idan — Sun, 18 Jul 2010 23:50:27 +0000

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Today we look at the SPY and try to reason what friday’s sell off meant to the markets. While we still don’t believe that one day breaks the rally trend of the last week, a break of 106.10 on the SPY might.
We look at some more important levels in the SPY and possible trends in AAPL and AMZN as well as the GS action.

Video Update ~ 1PM est LIVE TRADING

Idan — Wed, 14 Jul 2010 23:46:58 +0000

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Today we look at the SPY and talk about the fact that the SPY managed to hold that crucial 109.10-109.20 and end the day GREEN nonetheless. The interpretation is that the bulls are still in control of this market and that shorting it right here is out of the question.Idan says that he needs to see 1085 break on the SPX before considering shorting the market. He also said that buying here is too high as the market is overbought he needs a pull back to 1071 or 1060 before he can scalp long.

We also look at GS and AAPL and set up some nice traders for tomorrow.

Video Update ~ 07/11/2010

Idan — Mon, 12 Jul 2010 02:29:48 +0000

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Today we look at the SPY and the Dow Jones to look at possible levels where the market
could reverse.

While it’s too early to tell where the market will go, we provide the important levels for
shorters and buyers to trade this market.

Video Update ~ 07/07 – Stay Neutral at 1040-1075

Idan — Wed, 07 Jul 2010 22:25:21 +0000

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For the first time in 9 trading days, i have to admit i was wrong. While i did mention yesterday that 104.70 could be hit today, i assumed 104.70 would be the top of the rally followed by a sell off. That was obviously wrong and i have to take responsibility.

That said, i still am holding the puts i had bought (aug) earlier today at 104.70, 104.88 and 105.50 because things are not necessarily as bullish as people think. Right now we are in neutral territory, a break above 1075-1080 would get me bullish, a break below 1045 will get me bearish. With the 23.6% retrace of the whole fall being retraced, 1059-1062 is a great level for the bears to jump back in, 1071 is also a 50% retrace from 1130 to the lows at 1010.

It is still premature to be bullish but i’m not bearish either. Staying neutral and hopefully holding your patience for more signs is the best trade right now.

Video Update ~ July 6th – Let the dealer play the hand

Idan — Tue, 06 Jul 2010 22:17:29 +0000

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Today we just want to focus on the SPY action, take a look at the nice resistance (head and shoulders) retest that we have set up.
Even though we still have a chance to get a rally up to 104.70, there has to be a bearish bias into tomorrow and thursday for a completion of a smaller head and shoulders on the 10 minute.

Video Update ~ 07/05/2010

Idan — Mon, 05 Jul 2010 04:40:18 +0000

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Today we prepare ourselves for tuesday’s trading day. Looking back at friday we believe that he last 10 minutes of downward trading was long-term traders trying to take away risk into tuesday (after such a bearish week), rather than technical traders shorting.

We still believe that an A-B-C pattern to 103.90 or 104.70 is possible in order to retest the head and shoulders neckline before falling back down.

We also look at the XLF Head and Shoulders formation with neckline at 13.50 and tech (such as GOOG, EBAY and AAPL).

Video Update ~ Bulls for the Retest!

Idan — Thu, 01 Jul 2010 21:58:31 +0000

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Today we looked at the SPY sell off that came about early in the morning just to hit my SPY 38.2% retrace target at 101.2 or so. That 38.2% retrace is also a 61.8% retrace from the July 2009 lows to the highs.

As soon as we hit 101.2, we knew there was going to be a momentum shift in the market. We believes the bears have done enough damage to be satisfied and willing to let the bulls get trapped as they try and retest the Head and Shoulders neckline on the SPY. The bulls will most likely break the 102.88 level (or 23.6% retrace since the start of the sell off the day before monday’s gap). They are likely to reach 103.88 and 104.70 and could reverse right around 104.70 after the restest of the H&S formation.

Today we bought also some GOOG calls as the GOOG hit the 50% retrace. We also look at GS, GE and AMZN (which retested 111 right at the end of the day).

Video Update ~ SPX SPY H&S and a bunch of blah blah blah

Idan — Wed, 30 Jun 2010 22:13:39 +0000

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Today we look at a bunch of charts starting with the SPY and SPX, which we believe have now broken down a major H&S pattern and confirmed so by a 2 bar break scenario.

With that in mind, the market now has a long term target of 880-885 on the S&P. Over the next few days we could see a slight sell off to 1012-1015 or a retest first to the 1041-1050 range, which could provide an amazing shorting opportunity. Retests of this sort appear on many charts as well.

If you’re looking for bounces, make sure to look at fib retracements, GS will see 120.5 as a 50% retrace bounce, and GOOG will see 438 for the same reason. We also see JPM potentially falling down quite substantially as it is on the verge of a break of 36.55.

We also look at LVS and AAPL and talk about both the long/short trader there.

Video Update ~ Head and Shoulders Pattern Formation on SPX or SPY

Idan — Tue, 29 Jun 2010 21:41:37 +0000

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Today we look at the massive downtrend action that we got with the SPX closing in right above the 1040.78 low. The SPY showing a lot more of the bearish action with a low closing lower than that of the 1040.78 low.

On both the SPX and SPY, we made a new low today thus confirming the start of a H&S formation breakdown. We will need to see a confirmation of that in tomorrows trading day.

We also look at the MACD bearish crossing on the SPY and many other charts.

Other stock trades are provided on AMZN, AAPL, GOOG, JPM and GS.

Video Update ~ 06/28/2010 $SPY $GS $AAPL $AMZN $UNG

Idan — Mon, 28 Jun 2010 21:06:58 +0000

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Today we look at a lot of the charts that I looked at over the weekend and point out how a lot of the trades and levels to watch out for were right on!
We talk about SPY’s weakness and potential break of a triangle formation lower, and looked at AAPL, AMZN, JPM, GS and UNG aswell.