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The S&P 500 index continues its consolidation pattern since hitting the 1,100 level back in mid October 2009.  We believe that in the absence of any major news, the consolidation pattern is likely to continue going into the end of the year. Technical analysis of the S&P 500 index shows that the chart is working its way into a triangle, with the 50 day exponential moving average providi...

Every week we present an analysis of the previous week's market action as depicted by SPY (the index tracking ETF for the Standard and Poor's 500 index) and our outlook for the coming week. In the past holiday-shortened week, news of debt concerns in Dubai led to painful sell-offs in many stock markets in the US, Europe and Asia. SPY printed a new yearly high on Wed (25 Nov) but closed shar...

The price of gold has had a massive run-up of approximately 74% since bottoming out in Oct 2008.  This run-up was due to many reasons, from the decline of the dollar to inflation fears.  We first highlighted the potential of this precious metal on our Sep 4 post, but if you had not initiated a long position then using the Gold ETF (GLD), is it too late to buy now? From the log chart of GLD be...

It was a day of bleeding for the general stock market yesterday with significant losses across many sectors. Here, we highlight a short side play for short term traders who wish to capitalize the possible correction in the stock market over the few days to weeks. The small caps ETF (IWM) has been under-performing the larger cap ETFs (QQQQ, SPY etc) for some time and is now offering a low risk-rewa...

It was a clear win for the bulls over the past week as the market rocketed more than 3% after a shaky start on Monday. But was it really a win for the bulls? In this weekly update on the S&P 500 index (as depicted by SPY), we will examine the technical action that took place in the previous week and discuss the possible trade setups going forward. As shown in the daily chart above, SPY ...

Hello guys, what a week it has been! It was a pretty bearish week, with the S&P 500 breaking a few supports along the way. Is it time to sell yet? Let's take a closer look! [caption id="attachment_1344" align="aligncenter" width="600" caption="ETF Market Trends: S&P 500"][/caption] The S&P 500 has been whipping around the 50-MA for the last couple of days. This 50-MA has been a s...

This coming trading week will be an interesting one for the S&P 500. But before we go any further, let us take a technical look at what had taken place since last week. Although the week ended with a minor loss of about 0.7%, it was one heck of a volatile ride for most investors and traders. The week started off with minor gains for SPY on Monday but it was quickly erased during Tuesday and We...

Hi everyone, here's the weekly technical outlook on the S&P 500. Over the past week, the index managed to break and stay above last week's high of 1,080. It has, however shown some weakness as it approached the next resistance level of 1,100. This level was a critical support/resistance level back during March to October 2004. [caption id="attachment_1309" align="aligncenter" width="600" ca...

Here is an ETF Market Trend analysis on OIH (Oil Services HOLDRs). The investment holds shares of common stock issued by specified companies that, when initially selected, were involved in the oil service industry. [caption id="attachment_1293" align="aligncenter" width="600" caption="ETF Market Trend: OIH"][/caption] Let's take a closer look at the daily chart of OIH. Prices has been trendi...

Here's our weekly technical take on the broad market action as depicted by SPY ( the ETF for the S&P 500 index). Over the past week, SPY had bounced off the 50-day SMA in a textbook-like fashion and had moved up more than 4% ever since. While it is not surprising to see the bounce off the 50-day SMA, it is quite a wonder to witness another dramatic climb back to the previous highs at the 108 l...