Options and Stock Market Technical Chart Analysis for June 29, 2009 by Idan Koren

First of all I want to go ahead and admit that I was wrong when I said that the market would go up early in the morning and then reverse in late trading to fall about 1-1.5%. That was my intuition but it obviously didn't happen. The market continued to stay at very strong resistance but failed to break it. It looks like my down day might get delayed by a couple of hours and take affect either tomorrow or the day after. Tomorrow is an important day as it is also the last day of the month. At this point i would rather be more bearish than bullish as we have the H&S formation still in play and a lot of resistance from over head, and today's volume was incredibly low (as low as fridays or even lower). I look at different charts to show how the bearish side looks more promising, but I stay neutral on some action. I view SPY, XLF, GS, AAPL, AMZN, VIX.

Category:

Education

Tags:

• Idan
• Koren
• stocktock
• Brian
• Shannon
• Alpha
• Trends
• The
• Practical
• Investor
• Tony
• SPY
• XLF
• GOOG
• AAPL
• Trading
• Technical
• Chart
• Analysis
• Elliot
• Wave
• Resistance
• Support
• Money
• Stock
• Option
• Market
• wall
• street
• tony
• alpha
• trends
• marketguru
• learn
• how
• to
• TA
• read
• charts
• trade
• learning
• basics
• raging
• bull
• big
• wets
• spy
• gold
• dollar
• xlf
• gs
• srs
• ung
• gas
• oil
• FTV
• june
• SNP
• 500
• 06
• 29
• 2009
• 30
• 6-29-09
• 06/29/2009

[cmegroup23]

long 10k of siri@.37. BAC 16 CALLS NOV lookin nice. jap yen looks bullish, 60 min bull flag.

[cosmicguerilla1]

nice vid , i think the feds or some money machine are going to pump the market higher ,and that will be easy on light volume , the market is fixed if it doesn't go down soon , i might start going long soon .

cheers

[hani11291976]

kudos for admitting you were wrong dude ........