Options and Stock Market Technical Analysis November 18 2008

We look at today's fakeout which we nailed in yesterday's video, and talk about the potential for a distraction rally into pennant resistance on options expiration week. We are also keeping in mind that the potential for a crash next time we hit the same support is high. We look at XLF, SPY, SPX, OIH.

Category:

Education

Tags:

• options
• market
• technical
• analysis
• 2008
• november
• 18
• 11
• stock
• chart
• resistance
• xlf
• oih
• spy
• stocks
• pennant

[u05ikoren]

The bulls are not in the market yet, and that should provide strong enough support for the market. The fact that the short sellers couldn't push under 84 on a 60 minute chart tells me that there aren't enough of them to push this market to new lows. Unless we consolidate upwards for a few days I don't see it breaking yet..

[speculate18]

Iden,

Are you gonna do a charts analysis for today the 19th. I really enjoy your commentary.

[Hamstar78]

i like your analysis! :)

[GoofyVideoMaster]

kablammo !!! SRS puts....26 contracts....rally needed...help...lol

[zozo71zozo71]

this is what i think also.

its was a doji candle, so now for while its LONG or its beter to stay outside the market for a while.

[Schweizer135]

The late day pop in the S&P was that many day traders expected a breakdown today, went short, and when it didnt happen they covered their shorts and there were few sellers so the price ramped big-time. This all happened after the bond market closed. This implies the market may DUMP Wednesday (or soon).

This may be what happened last Thursday too.

Careful.