Today, the Market appears set to open higher as positive developments in Dubai and the weakness in the dollar have helped lift the futures. The levels we are watching in the SPY are 110.50 for support and 111.40 for resistance. Above 111.40, we expect a trend day up to 113.00. However, if the market starts holding below 110.50, we expect … Read More

Today, the Market bounced off the 109.00 support level we mentioned in our Morning Rundown post. We expect the SPY to stay in a pretty tight range between 109.20 and 109.60 into the Close. Above 109.60 we may get a move back to 110.00. Our best idea into the Close is to buy SEED on a pullback close to 12.70. … Read More

Today, the Market appears set to open virtually unchanged from the Close on Friday. The levels we are watching in the SPY today are 110.50 for resistance and 109.00 for support. If the SPY starts holding below 108.80, we expect a move down to 108.00. Our best AM Idea for today, which we highlighted in our AM Meeting is to … Read More

Today, the Market appears set to open higher after a a number of positive economic reports were released. Pre-Market, the SPY failed at the recent 111.60 resistance level. The levels we are watching in the SPY today are 111.60 for resistance and 110.80 for support. Below 110.80, we expect a move down to 110.50. Below 110.50, the next support level … Read More

Today, the Market appears set to open slightly higher. The levels we are watching in the SPY are 110.70 for support and 111.60 for resistance. If we start holding above 111.60, we could see SPY 112+. If we start holding below 110.70, the next major support level is SPY 110.00. Our best AM Idea for today, which we highlighted in … Read More

Today, the Market sold off for most of the day after a strong drive on the Open. In the afternoon, the Market touched the Opening lows and had a modest bounce. Into the Close we don’t expect a big move, but if the SPY hold above 111.10, we could see a move to 111.35-111.50. If the SPY take out the … Read More

Today, the Market appears set to open higher after comments over the weekend from Chicago Fed Evans that interest rates will probably remain near zero into 2010. The weakness in the dollar is helping push gold to new highs, and also the catalyst for the strength in other commodities. The levels we are watching in the SPY are 110.50 (inflection) … Read More

Today, the Market touched SPY 109 in the middle of the day the before making a modest attempt to rally later in the day. Into the Close we don’t expect a big move in the Market as the volume in fairly light. We are watching SPY 109.70 for resistance and 109 for support. Our best idea into the Close is … Read More