Monday, August 31, 2009
Thursday, August 27, 2009
Back in April on this blog, I recommended buying HGSI at $2. It hit $24 yesterday for a 10 bagger.
Posted by Jeff York at 8:38 AM
The S&P ran into the monthly R1 pivot(green line marked R1) this week at 1033 and cannot close over it. Now were getting a small sell off that should take us back down to 1000- 1005 and fill the open gap(blue arrow) there.
Traders in my trading room have been shorting the monthly r1 pivot.
Posted by Jeff York at 7:25 AM
Wednesday, August 26, 2009
Tuesday, August 25, 2009
I find it funny that some say the housing market has now bottomed, based on today's news.
"The S&P/Case-Shiller home-priceindex declined 15.4 percent from a year earlier, the smallest drop since April 2008, the group said today in New York."
When we start hearing or read that home prices fell less than 1% year over year, then and ONLY then will we start to form a bottom! There is no bottom when prices are still falling 15%+.
Posted by Jeff York at 6:31 PM
Monday, August 24, 2009
Sunday, August 23, 2009
Last week the S&P finally broke through the 38% Fibonacci, which was resistance for the past month. Now the next major resistance traders/investors will be watching is the 20 month moving average. As seen in the chart above, the yellow line is the 20 month moving average. When the S&P index is above the 20 month, we are in a bull market. When the S&P is below the 20 month, we are in a bear market, as shown over the past 12 years, in the above chart. We currently are still below the 20 month!
click on the chart for a larger view
Posted by Jeff York at 7:45 AM
Sunday, August 16, 2009
Tuesday, August 11, 2009
The XLF is an ETF that tracks the major banks(BAC, C, WFC, etc) and brokers(GS, JPM, MS etc.). The XLF's low in March was at the Yearly S1 pivot(purple line marked S1), as seen on the chart above(blue circle). The XLF came close to the Yearly P(yellow line marked P) today and sold off. This is a text book pivot play from S1 to P. The 5 month bank rally could be in trouble.
click on the chart for a bigger picture.
Posted by Jeff York at 3:56 PM
GOOG went up to the yearly R1 pivot(purple line marked R1), and the Monthly R1 pivot(green line marked R1) at $465 last week, and investors/traders took profits there. Remember R pivots = resistance(sellers), and S pivots = Support(buyers). The 20/21 day moving averages(yellow lines) are still pointing up, but you have to respect the pivots. Those yearly/monthly R1 pivots at $465 could be Googles high for this year!
Posted by Jeff York at 3:06 PM
Saturday, August 8, 2009
The Euro last week went up to the monthly R1 pivot(green line marked R1), and and fell hard Friday, down to the Monthly Pivot(blue line marked P), and the 20 dma(yellow lines). The Euro may find support here next week. Pivots are a traders best tool!
Posted by Jeff York at 7:28 PM
Wednesday, August 5, 2009
The S&P futures kissed the yearly pivot point at 1005(purple marked P), the past 2 days. The yearly pivot is calculated by adding the previous years High/Low/Close and divide by 3. The yearly S1 pivot was the low back in March. I still think we get a pullback from here.
Posted by Jeff York at 9:13 PM