Friday, March 9, 2012

JOBS REPORT TODAY

Hi Folks,

We pulled back around 2.7% this week from the highs. That is in the range that I was expecting. So now what? My sense is that we are going to struggle again. If we fail this time, I expect it to be a bigger failure and a bigger sell off. The trend line that has been in place since the 10/4 lows is still intact and is what I will be watching. If we break it I think we could hit 129 in terms of SPY over the next 2 weeks or so.

Thanks and Good Trading,

Tim

Tuesday, March 6, 2012

TREND LINE

HI Folks,

It looks like we are in the middle of the pullback that I wrote about on March 1st. The trend line in SPY is now rough 133. This is the level to watch. If we break it, the bull run would be over temporarlily and set up a larger selloff in the next 6 months or so. If we bounce off the trend line, then the market could continue higher and make new highs.

I am working on a new website and will have details shortly.

Thanks and Good Trading,

Tim