All Entries Tagged With: "NASDAQ"
Two Ranges to Watch
June 21, 2011 at 11:28 am
Last week we saw an important test of the March lows in the NAZ and RUT, while the S&P 500 held slightly above support from the spring. Those March lows give us a well-defined area to trade against, even if it’s a long way back up to the May highs. Stated otherwise, we may have just carved out the low end of a very wide range.
But that’s not the only range found in this market. We also have the NAZ caught between the 2700 area (late-Feb low & mid-April low) and the 2600 area. It’s working its way back up toward 2700, so the key will be if that level can be reclaimed on a closing basis.
Here’s a look at the NAZ, including both the wide and narrower ranges previously mentioned:
The S&P 500 has a slightly different situation here as it held above the March low and is currently flirting with the 1294 area which has proven important. We saw the late-Feb selloff end at that level, as well as the mid-April pullback finding support at 1294. More recently, that level was broken on June 6 and has yet to be reclaimed on a closing basis. A push back up through there could certainly help this index, although it still has plenty of rebuilding work to do. It has a higher intermediate-term low in place for now (June vs. March), but still stands a considerable distance from prior bounce levels (most notably 1345 from May 31).
Here’s a look at the S&P 500 chart along with the noteworthy levels right now:
Needless to say, this market remains interesting and there should be no shortage of movement going forward.
On another note, the premium newsletter turns 7 today, so for those of you who are members and have stuck around from the beginning in 2004, we appreciate you and remain committed to providing ongoing, exceptional value which adds to your trading process!
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Archived Webinar
April 20, 2011 at 12:47 pm
Good news! Last night’s webinar in conjunction with Worden was recorded and is now available. If you missed out in real-time, there are still a TON of ideas worth taking note of.
The run time is under 1 hour, and I promise you’ll learn something on top of all the trade ideas presented. Here’s the link to the archived webinar.
Enjoy!
Trade Like A Bandit!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
Video Review of the Indexes 12-19-2010
December 19, 2010 at 3:04 pm
It’s still a bull market, and last week we saw continued price action which was constructive to the current trend as the indexes tagged new highs and consolidated.
The buyers continue to provide support on even the smallest of dips, although we haven’t ramped higher since earlier this month. There’s still time for an end of the year rally, so with an underlying bid beneath this market, be careful not to rule that out.
As we head into a brand new week of trading, let’s examine some important levels to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
Be sure to view in full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
Video Review of the Indexes 12-12-2010
December 12, 2010 at 3:06 pm
The bulls reminded all last week of the fact they have the upper hand (hoof?) in this market by producing new multi-year highs and finishing off the week in a strong fashion.
At some point, we’ll see this market correct, but right now that’s apparently far from the minds of traders as they see the push into the end of the year. What’s perhaps aiding the cause of the bulls is simply the fact that we’ve seen some nice rotation between large-caps and small-caps as turns are taken for the leadership role from week to week.
As we head into a brand new week of trading, let’s examine some important levels to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
Be sure to view in full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
Video Review of the Indexes 10-17-2010
October 15, 2010 at 5:07 pm
The bulls posted another solid performance last week as more cash was exchanged for shares. That took the indexes to new recovery highs, but also brought some important resistance areas into play.
The big question on the minds of traders at this point is whether the pace will slow now that resistance from the spring has been reached. We’ll find out soon enough, but there’s still no signs of emerging weakness at this point.
As we head into a brand new week of trading, let’s examine some important levels to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
Be sure to view in full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
Video Review of the Indexes 10-10-2010
October 10, 2010 at 8:53 am
The market finished on a strong note last week, reaching new recovery highs after putting in some needed rest. This keeps the uptrends intact, and although resistance zones are quickly approaching, the bulls are showing no signs of concern at this point.
The week ahead is likely to bring a resolution to this short-term indecision, so it’s time once again to check out the big picture for clues of where momentum might return in either direction.
As we head into a brand new week of trading, let’s examine some important levels to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
Be sure to view in full-screen mode for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
Video Review of the Indexes 10-3-2010
October 3, 2010 at 8:30 am
The major averages put in some much-needed rest last week as they were able to hold above key levels while consolidating. The dips have remained shallow and short-lived since the August lows were set. Although we’re short-term range-bound, it’s difficult to expect that to stay the same given all the movement we’ve witnessed over the past month.
The week ahead is likely to bring a resolution to this short-term indecision, so it’s time once again to check out the big picture for clues of where momentum might return in either direction.
As we head into a brand new week of trading, let’s examine some important levels to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
This clip was also posted over on the Trading Videos site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.
Let me suggest going full-screen for best quality in the video.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Are you following me on Twitter yet?
