Option Investor
Printer friendly version
Keene Little : 11/27/2006 12:02:14 AM

Here's a 30-min chart of SPX that matches the one I showed in the weekend Wrap. It shows how the rally could proceed higher starting Monday. But it will need to start pretty much out of the gate since the pattern can't tolerate much more of a pullback. Certainly Friday's low of 1399.25 (cash) must hold otherwise throw this bullish scenario out the window. Link

Keene Little : 11/26/2006 11:01:54 PM

The US dollar is lower again but not as bad as Wednesday's and Friday's spanking. Still, if equities reacted badly in overnight trading before Friday's open I'm wondering if we'll see the same thing happen to equities tonight. I think many are expecting the dollar to get a bounce back up after the light holiday trading last week may have exaggerated its move down.

So far there's not much of a reaction in equities--down slightly. We'll have to see what happens after the European markets open. The dollar, currently trading near 83.45, has made a clean break below the May 2006 low of 83.61 but it will be the close, after full participation by all the traders on Monday, that is important.

Keene Little : 11/26/2006 10:43:53 PM

Monday's pivot tables: Link and Link

Jeff Bailey : 11/26/2006 10:36:44 PM

Current OPEN MM Profiles that I've made and Watch List at this Link

Jeff Bailey : 11/26/2006 10:18:02 PM

Index Pivot Matrix found at this Link

OI Technical Staff : 11/26/2006 9:59:59 PM

The Market Monitor has been archived. You may view it and any previous days here: Link

Disclaimer: Stocks discussed in the Market Monitor are for educational purposes only and any analysis is not meant to imply a recommendation for or against that stock. The analysts in this forum as on any other website are prohibited by the SEC from giving any specific advice to ANY individual trader. All information posted is for ALL readers and is not meant to be directed to any individual. Our analysts cannot answer any email questions regarding any specific stock. Please do not ask and please do not take offense if requests are denied.

Results posted in the Market Monitor are hypothetical and OIN does not claim that any reader achieved these exact results. Due to the lag time between research, writing, posting, uploading, reading and execution there will be differences between the actual signal given and the fill achieved by the reader. Fills may be better or worse but in most cases they will be different. The writers will make every effort to give advance notice of intended signals and indicate potential price targets. Your individual results may vary depending on your activity level and aggressiveness. This forum is intended as an education service only. Trading involves risk and should not be attempted by anyone not ready to accept this risk. By acting on any signal in this forum you agree and personally accept this risk.

Market Monitor Archives