I charted the S&P 500 (SPX) after the markets closed on July 10, 2009 when it closed for the week at 879.13. I drew a thin line to show the closing price and how that same level has been a key resistance and support level a handful of times over the past six months. The…
Tag: $SPX
S&P 500 Chart – June 19, 2009
I drew this year to date (YTD) of the S&P 500 (SPX.X) chart after Friday’s close when it was finished the week at $921.23. I might have gotten a little line crazy on it and hope you can still see where I’m going with my following points. I drew two trend lines of higher lows that started in February…
S&P 500 Chart – May 29, 2009
This weekend I’m back to charting the S&P 500 Index ($SPX.X). It’s about to get really interesting with a couple of different technical indicators converging soon. Bear Case The SPX closed at 919.14 on Friday, about five points below its 200 day simple moving average. Also it hit resistance at the short trend line of lower highs that started back…
S&P 500 Chart Review – May 8, 2009
Happy Mother’s Day to all moms today! I’m making this short today so I can go spend the day with my wife, my mother and my mother-in-law. I wanted to get this same chart (a week later) up from last week. Four of the trend lines remain intact. I’m expecting a strong bit of resistance…
S&P 500 Index Chart – May 1, 2009
I charted the S&P 500 ($SPX.X) after it closed at $877.52 on Friday, May 1st. While this bear market rally has lasted longer than I expected I still think it faces some sizeable obstacles in the near term. The farthest away and possibly most important is the trend line (A) of lower highs going back for the past year. …
S&P 500 Chart – April 3, 2009
The last time I charted the S&P 500 ($SPX.X) I was confident enough that it was going up that I even said it was a buy in the title. Today I’m not as confident. The big technical indicator that drew my attention last time was that Williams %R broke above oversold and confirmed that direction…
Sold USO Calls & Bought SSO Calls
USO I started the day by selling covered calls on my 300 newly acquired USO shares I had to buy at $31.00 (I paid $9,319.99 with commissions) from the February 31 naked puts that expired in the money (ITM). USO started up and then headed south with the rest of the markets. While USO was trading at…
S&P 500 Chart (SPX.X) – January 16, 2009
The last time I charted the S&P 500 (SPX.X) I drew a trend line of lower highs. That line broke to the upside and the SPX got above 900 for just over a week. Then the Williams %R indicator broke below the overbought area and the SPX unwound. For those not still lost in New Year’s celebrations this…
S&P 500- 20 Year Chart – October 3, 2008
I went back a full 20 years to see where the S&P 500 (SPX) is on a longer term chart’s perspective. I only drew three trend lines in this week’s chart. I also drew (in blue) extensions to these lines to show where they might intersect. The long trend line that started in the early-90s…