Market Analysis video for ending day 05/19/09
Watch In HD for crystal clear quality
Good evening everybody, I am starting early today so I can have the video up before 10pm. I will try to contain this video less than 10min so I can upload it in YouTube. I viewed the VIMEO video today and must say I did not like the quality of the upload, so I will not be using them again for long videos until I can configure the right settings. With that being said, today was a real choppy day in the markets. I did not get any sell signals at all until close and that came on the XLF using are simple 15min system which you will see in the video. Also are leveraged ETFs came down to correctly measured support levels and bounced off those levels for a perfect entry and a tight stop for tomorrow and that will be included in the video as well. My sentiment on the markets is neutral for I do not want to call any shots right here. We are still above key levels that the bulls can comeback and beat up the bears again and take the market higher. The NASDAQ closed positive today, but looking at some of the leaders like Apple, looks like we could be due for a correction tomorrow. Apple printed a nasty 60 min candle at close and rose today on very light volume. So if we do manage to have a nasty day tomorrow apple will be one of my victims for I will be buying some puts. I will put the trade up later tonight in the options watch list section and I will post the chart with are channel analysis. So enjoy the video and shoot me any feedback or questions if you have any.
Thanks
Chris C.
11:26
-markets are pulling back from the open, but look like we are just winding up for another move higher. Oil markets pulling back as well. USO looks to have an inverse H&S on the 15 min chart. Dollar getting a bounce on some support 60 min UUP.
10:32 am
-Basic Materials one of the sectors up strong again today. Man I need to start setting alerts.
PCX 60 Min
10:02 am
- Okay everybody I got the video uploaded below on vimeo. I must try to make the videos less then 10 minutes so I can put it on youtube. I like to put it on youtube because I get to use the insight information to tune the videos to the type of audience viewing and I get to see analysis on video watches ect.. Enjoy the video below and leave some feedback,comments, or email me if you have any questions.
8:04 AM
- Okay folks I left the youtube on processing the video for yesterdays action and I guess i was a little long so they didn't upload it. So Im gonna see if I can upload it in VIMEO before I leave off to work. Sorry uploading in VIMEO right now
Looking at that oil futures chart below and looking at the live action now, the futures broke out above that $60 level pulled back and is currently making a bull flag and testing that support( Prior resistance). It may take off when the equity markets open. We have futures up and looks like the rally may continue into today. Be careful and watch the volume on todays action and individual stocks.
12:31 am
- Oil markets are trying to break above this level around 60. If we break above this key level it will send the markets higher.If we fail at this level like you see we did on the 2nd test look for that resistance to hold and short oil.
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