UpsideTrader » S&P http://www.upsidetrader.com My Macro Visions, technicals, and the Calling to Task of the Financial Media Wed, 08 Feb 2012 02:51:08 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Nothing Can Kill This Market http://www.upsidetrader.com/2011/11/07/nothing-can-kill-this-market/ http://www.upsidetrader.com/2011/11/07/nothing-can-kill-this-market/ Tue, 08 Nov 2011 00:07:50 +0000 UpsideTrader http://www.upsidetrader.com/?p=19180 spx50 Nothing Can Kill This Market

S&P Daily

The S&P is trying hard to retake the hill and take back that 200 day moving average (yellow line).

spx 10 minute Nothing Can Kill This Market

S&P 10 minute

Around 2PM (10 minute chart above), there was a monster spike in the S&P $SPY. It was the result of what I thought was a garbage headline out of Europe, I still think that, but the tape wants higher it seems, no matter what.

From 10,000 feet, Europe looks to be on the brink, a closer view though makes you think the bulls will take it up regardless. This market is like the poor kid in high school who constantly gets bullied, at first he falls apart from the attacks, but later he becomes numb to it, maybe even stronger as a result. Stay tuned, maybe this bullshit tape can finally get going.

 

 

]]> http://www.upsidetrader.com/2011/11/07/nothing-can-kill-this-market/feed/ 0 The Morning Morsel-Sovereign Failures? No App For That http://www.upsidetrader.com/2010/02/05/the-morning-morsel-sovereign-failuresno-app-for-that/ http://www.upsidetrader.com/2010/02/05/the-morning-morsel-sovereign-failuresno-app-for-that/ Fri, 05 Feb 2010 12:32:34 +0000 UpsideTrader http://www.upsidetrader.com/?p=7638 euro2 300x235 The Morning Morsel Sovereign Failures? No App For ThatWe all know by now that the Eurozone is facing big challenges. The conversation now moves to the contagion issue. How bad, how deep? Greece, Spain, Portugal, and Italy obviously have deep seeded issues. If the greatest nation on planet earth is on its heals, how can we expect a country like Spain, with 25% unemployment and a crashing real estate market rise above the challenge?

We’ll see how this plays out in coming weeks. Was it just a fantastic knee jerk reaction? Timing for the bears couldn’t have been better  as the S&P was hanging around its own lofty level of 1100 when most of this news broke.

Non farm payrolls are released shortly and today will be huge from so many angles. Be careful today and turn CNBC off. The S&P looks like it will get a magnetic pull to the 200 DMA. World markets are getting hammered. Good luck today.

Friday, February 05, 2010

Economic
06:00 Brazil Jan Inflation
06:30 Chile Dec Economic Activity
07:00 Jan Canada Net Employment Change, Unemployment Rate
08:30 Jan Nonfarm Payrolls (last -85K), Jan Unemployment Rate (last 10.0%), Jan Manufacturing Payrolls (last -27K), Jan Average Hourly Earnings (last m/m 0.2%, y/y 2.2%)
15:00 Dec Consumer Credit (last -$17.5B)
16:00 Colombia Jan PPI
Events
12:00 Treasury Sec Geithner to attend G7 meeting. 17:15 Fed’s Bullard to speak in St. Louis. Trades Ex-dividend: PLL $0.16, ISIL $0.12, KMT $0.12.
Earnings
Before the Open: AET, AYE, AXL, AIV, BZH, BPO, BRKS, SUR, LRN, KELYA, MAG, MD, NNN, PPL, PBH, SXT, SPG, SEP, TE, TSN, VVI, WY, YRCW
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