Technical Analysis For Week Of August 30 2010

http://www.guerillastocktrading.com/stock-market/sp-500-etf-spy-technical-ana... (CLICK FOR FULL REPORT) Here at GuerillaStockTrading I predicted a double dip recession all the way back in early May using the evil sell off in the Homebuilders Index (XHB) so I am not really in agreement with Bernanke that the economy has weakened more than expected.

Once again, the S&P 500 closed down for the week as the current downtrend continues.

In the video below, I do technical analysis on SPY last week and show you a key support level you need to watch. The key support level to watch next week is $104.30 on SPY. We had a double bottom test of this level last week on Wednesday and Friday.

Important fundamental analysis reports to be released next week are:

Aug 31 Consumer Confidence
Aug 31 Minutes of FOMC Meeting
Sep 01 ISM Index
Sep 01 Auto Sales
Sep 02 Unemployment Claims
Sep 02 Factory Orders
Sep 02 Pending Home Sales
Sep 03 Nonfarm Payrolls
Sep 03 Unemployment Rate

Category:

Education

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• howto
• technical
• analysis
• stock
• market

[StockTradingMaster]

@prudentinvstr Spanked!

[prudentinvstr]

Bernanke "The sub prime mortgages issue is well contained." He's a joke.

Thanks for posting.