The Croke Report blog » S&P 500

Crude 9-8-2010

admin — Wed, 08 Sep 2010 14:57:48 +0000

Crude oil is firmly in a sideways pattern today centering trade around the 73.80 level. The upside break out level is
74.63, and to the downside is 72.63. The futures are below the daily resistance line, and thus the bear trend is still
favored, and the daily resistance line at 74.56 is going to be a tough level for Crude to maintain above.

Nasdaq 9-8-2010

admin — Wed, 08 Sep 2010 14:57:24 +0000

The Nasd futures have gone into buystalk mode and thus the sentiment has turned to bullish and the target is the high
of 1878.00 as long as we are above 1856.50. Under 1856.50 and the bullish sentiment goes away, and look for a test
of the 1854.00 level.

Crude Oil 9-7-2010

admin — Tue, 07 Sep 2010 14:32:52 +0000

Crude oil futures upside has been contained by the daily resistance level which today is at 74.52, and now look as
though they are giving up the fight and beginning to retreat back downward. Only under 72.64 though do we
assume the downward sentiment.

Bund 9-7-2010

admin — Tue, 07 Sep 2010 14:32:39 +0000

The Bund pulled back down to print a 131.73 low, however has turned back upward and approaches the ½ way back
level at 133.25. The Bund has been the strongest of the interest rate products, and looks to continue the bullish tone
matching the longer term time frame. If we fade back off a bit, look for support to begin at 132.70.

Nasdaq 9-7-2010

admin — Tue, 07 Sep 2010 14:32:22 +0000

The Nasd has pulled back after last weeks 125 point pop. It took a look above it’s 200 day MA, which today is at
1862.00, but looks as though we will be back under there today. Resistance begins at 1864.00 through 1868.00 on
the upside. On the pullback downward support begins at 1850.00 and 1847.00 respectively, below 1847.00 and we
may see more erosion.

S&P 500 9-7-2010

admin — Tue, 07 Sep 2010 14:32:07 +0000

The S&P today is all about retracement, something we did not have the ability to do all last week when it rallied
about 70 straight handles. The lack of two way trade is just plain obnoxious these days. Now a couple short
abbreviated sessions, and we suddenly decide with Europe’s help that we can trade back lower. Today if we try
to regain any footing the main resistance block begins at 1099.75 through 1103.00. Only above 1103.00 do we
take on a positive sentiment again, with 1105.25 as the main resistance guarding the 1107.25 high. To the
downside, we have put in a session low of 1095.25 thus far, but the real test will be to see if we can get below
1093.25. To put some perspective to things, the first fib. retrace of .382 is down at 1080.00, so there is plenty of
space to play with today, before becoming threatening that now we cannot stop the downward direction just like
the trip was upward.

Crude Oil 9-3-2010

admin — Fri, 03 Sep 2010 14:15:28 +0000

The Crude oil is trying to get above the daily resistance line at 74.70, however there is still some downward energy, and it keeps getting tangled up within it. Only above 75.59 have we broken that connection and are free to go higher. Support on a slide begins at 73.88.

Dax 9-3-2010

admin — Fri, 03 Sep 2010 14:15:02 +0000

The Dax futures still have attachment to the daily resistance line which today resides at 6044.0, and it still would
appear that a visit before its free to go higher is still in the cards. The level to watch on the downside is 6088.5, which
we are divergently above at the moment, and that level could be a bear trap.

NASD 9-3-2010

admin — Fri, 03 Sep 2010 14:14:52 +0000

The Nasd futures key resistance pre-number is 1841.25, that is the turn down point if we have a negative number. If things pop instead on good news, the 200 day MA up at 1862.25 will be in play.

S&P 500 9-3-2010

admin — Fri, 03 Sep 2010 14:14:38 +0000

Well the S&P never made that trip back to the daily resistance line, and has held up or keeps advancing right into
this mornings “jobs” numbers. Currently we are now trying to muscle through the longer term “heavy” line at
1088.00-1089.00 area, and as any “heavy” line, we can get above, but it should struggle to stay above. This
mornings number should have something to say about the success though of that technical set up. We have
talked about the lack of two way trade these days, and that may be why were not getting some of these swings,
but as we stand now, the market is implying no sign of double dip recession, or at least not near term, and the
successful hold above the daily support line supports the “bulls” for now.