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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...

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...

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'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...

It was a case of a failed bounce in the major indices last week. In our previous weekly update on the S&P 500 index (as represented by SPY), we highlighted a possible bounce at the 50 day SMA (around 104 level). SPY bounced on the following Monday to close near to 106 but subsequently gave back all the gains and more in the next few days. The subsequent decline was decisive  and supported by ...

On 18 Sep, we highlighted UNG as a potential short based on its technicals. Since then, instead of dipping significantly lower, the ETF exhibited resilience and has been hovering just below the key $12 price level. It is useful to recall that the $12 level serves as an important resistance for UNG. The downward sloping 200-day SMA has been hovering around the $12 mark as well in recent days. Ther...

Every Monday, we will be posting an S&P 500 technical analysis update. Using SPY, the ETF proxy for the index, we will identify important technical patterns and key price levels for traders and investors. In the previous week, the SPY tanked approximately 2% on increased volume. As we hardly have any broad-based decline of this magnitude in recent days, it certainly got traders and investo...

HSTX is one stock that should be on your watch list. Thanks to one of our astute readers who had recently requested for an analysis of Harris Stratex Networks (HSTX), we now have a bullish stock play for the next few days. As shown in the chart, HSTX has pulled back sharply over the last few days after gapping up over $7.50 in early Sep. Recent price action, however, indicate that the stock may be...

We have a request for a stock technical analysis of American Superconductor (AMSC) and here's our view!  In the short term, AMSC does not look too good. The stock has retraced to support at about $29-$30 and is hovering just below the 20-day and 50-day moving average.  Piercing below the two moving averages does not bode well for the stock price in the short term. Although AMSC has pulled ba...