http://www.stockrake.com

All yellow marks occur when price is above the resistance/support line of around the 1040 level. If 1040 breaks, I have to look at where the next yellow marks are. The next two that show up looking backwards are two at the 982-979 area. The yellow marks represent price congestion/inflection points. If the market breaks …

Read More

I see the futures fairies have struck in the aftermarket. Sprinkling fairy dust all over futures traders keyboards. Despite this move of happiness, my levels are still holding. I expected a slight up move tomorrow to test into the wick formed today on the SP. However, I don’t anticipate a break of the 910-911 region, …

Read More

Click on the chart to expand it. This morning the futures are up fairly large on the good bank bad bank idea that the government is trying to implement. This will likely be a sell the news story since its rallying ahead of it. The other that is happening is that the SPX this morning …

Read More

SPX is right around some major inflection point, but both the RUT, and the COMPX have considerable upside room which makes me think we are going to see the SPX break this trendline to the upside. After the break I think it will selloff to test the line causing a break even for the week …

Read More

SPX opened and is hanging right around the 1490 level…actually around 1485. Bears are going to try and short right at these levels. I’m thinking with the Ben/Kohn floor we break through it. I’m only 50% long now in the indexes and thats in the RUT only. I would like to be a buyer of …

Read More