{"id":8419,"date":"2010-11-18T09:21:05","date_gmt":"2010-11-18T14:21:05","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=8419"},"modified":"2023-03-30T10:19:03","modified_gmt":"2023-03-30T14:19:03","slug":"morning-thoughts-28","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-28","title":{"rendered":"Morning Thoughts on November 18, 2010"},"content":{"rendered":"

Good morning traders. Strong up move in the European and Asian markets overnight has S&P futures trading up about 1%. Today I am going to be focused on the descending trend line in the market which is now around 119.60. If the market is able to hold above this trend line, we could see new 52-week highs in the medium term. Given this gap I am going to be looking for some sort of gap fill or consolidation. Unless I see a very clear momentum setup in a specific stock I will not be aggressively long on the open.\u00a0\u00a0 If we do consolidate at these prices a rally to at least to 120 SPY is very possible.
\nFollow me on Twitter for real time market updates @JoeP_SMB
\nSPY Levels
\n121
\n120
\n119.60
\n118.65<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning traders. Strong up move in the European and Asian markets overnight has S&P futures trading up about 1%. Today I am going to be focused on the descending trend line in the market which is now around 119.60. If the market is able to hold above this trend line, we could see new 52-week highs in the medium … Read More<\/a><\/p>\n","protected":false},"author":290,"featured_media":8420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,1394],"tags":[],"class_list":["post-8419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-joe-ps-blog"],"yoast_head":"\nMorning Thoughts on November 18, 2010 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-28\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Thoughts on November 18, 2010 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Good morning traders. Strong up move in the European and Asian markets overnight has S&P futures trading up about 1%. Today I am going to be focused on the descending trend line in the market which is now around 119.60. If the market is able to hold above this trend line, we could see new 52-week highs in the medium ... 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