Trading the SPX

[Racer]

Try drawing the channel from the second (lower) high in the DJIND through to this month.

I fing effective channels start from the second (wave) extreme which is usually the confirming high or low of the next larger trend movement.

Normally I don't like drawing lines from too far away with a big gap in the middle because you can always fit them to suit if you want really!

 

[roguetrader]

Nas 2180 breach upwards might spoil the bears party

2191 is the level I'd watch, breach of thst with some momo could be interesting

 

[josbarr]

Under the full-float plan, ExxonMobil will still remain the index's most heavily weighted stock, followed by General Electric and Microsoft .

Still, Microsoft's weighting will actually go down a bit because a portion of the software giant's shares are closely held.

But the biggest shift will be Wal-Mart , with its share count dropping by roughly 20 percent, and its market cap as calculated by S&P falling by $4 billion.

Gaining the most influence is ExxonMobil because 100 percent of its shares are available for public trading, S&P says.

The first step of the shift takes place after Friday's close, when S&P goes to "half float." That means that half of the unavailable shares will be removed from the index calculation.

The final institution of the full-float adjustment takes effect Sept. 16.

 

[Racer]

15 day tick charts levels to watch for upside breaks
nas 2180
S&P 1234
Dow 10620

 

[Racer]

Under the full-float plan, ExxonMobil will still remain the index's most heavily weighted stock, followed by General Electric and Microsoft .


The final institution of the full-float adjustment takes effect Sept. 16.

Thank you for the information,

Great, might as well throw all the charts out of the window..................

 

[roguetrader]

Thank you for the information,

Great, might as well throw all the charts out of the window..................

 

[roguetrader]

INDU just doesn't seem to be up for any more altitude, does she?

 

[Racer]

DD Dragging it Down

down 6.38%

 

[roguetrader]

DD Dragging it Down

down 6.38%

Yeah but it's not just DD is it? I mean ok it's DD today but if you look at the DOW daily relative to the SPX and Nasdaq over the last couple of weeks, she really doesn't want to know.

 

[roguetrader]

Now look what shes done, just packed her bags and gone off to motther.

 

[hornblower]

S & P forming a pennant

 

[roguetrader]

Messy session so far, a day for quick on the trigger, or sit back and let the dust settle.

 

[User]

Looks like a bullish pattern.....

Doesn't look bullish at the moment but neverthless I can't see your pattern.

But, it's going to get bullish as the chances of higher prices according to my stats is relatively high.....

So upward action not ruled out........final pushes before the storm kicks in.......

Either we move sideways next week or either the downward action starts next week. That I'll try to clear up over the weekend......

Good Luck Joules......

Post the pattern if you can......

 

[hornblower]

F C ????

 

[Racer]

Looks like a bullish pattern.....

Well what ever it is, it will go fast when it does!

Like watching a spring getting so tightly wound you think it is going to break!

 

[roguetrader]

Looks like a bullish pattern.....

What timeframe Joules?

 

[frugi]

Up?

 

[FetteredChinos]

evening Joules, thanks for the heads-up.. was just having a nosey, seeing how you were doing.

still going down the automation route, so pretty tied up with things..


keep up the good work, and back luck for the next Test...

 

[roguetrader]

Little lunchtime move here, sexy SOX looking a little jaded by the effort.
Internals still not giving much away

 

[Racer]

The U.S. economy continued to steam ahead in June and early July in most regions of the country, while housing activity cooled in some of the hottest markets in Washington, D.C., California and Florida.

"Reports from all 12 Federal Reserve Districts indicate that economic activity continued to expand in June and early July," the Federal Reserve said Wednesday in its latest Beige Book report.

New York was the only region to report slower economic growth, the Fed said. Three districts reported faster growth, while five other districts said growth was solid or moderate. Three regions didn't characterize the growth pace.

'Solid or moderate' ?

I thought the economy was steaming ahead?