at Monthly R2

The S&P ran into resistance last week at the Monthly R2 pivot(green line marked R2). A breakout above that will take us to the yearly r1 pivot at 1275. I have to stay bullish as long as we stay above the daily 8dma at 1230. Maybe R2 holds and we get a little pullback this week.

Quad Expiration week

This week the S&P will be looking for strike prices to pin. Watch 1250(wr2) on the upside and 1220(ws1) on the downside support.

ws or wr=weekly support pivot or weekly resistance pivot

Government Motors

I like this chart pattern that GM is making. The $33 opening IPO price held and last week did a gap "UP" open. The gap was filled last Friday on the 8dma and closed on the Monthly Pivot Point. As long as $34 holds it looks bullish to me.

I was wrong on this one!

Last January's predictions

Per my analysys from last January. Looks like we will hit the Yr1 Pivots on the Dow Jones and S&P.

January 11, 2010

Dowjones looking higher

The Dow broke to the downside early last week and then reversed to breakout to the upside. The 20dma is now support at 11200 and resistance is the November Highs at 11450-11500.