Options and Stock Market Technical Chart Analysis Weekend September 11, 2009 by Idan Koren
Hey guys,
I just wanted to give you a break down of a few stocks and what i think of them individually. We look at the dow jones, the qqqqs, jpm, xlf and aapl here.
Duration : 0:5:1
trade trends with options | admin | September 15, 2009 | 
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Today we look at AAPL, GS, SPY, GLD and VIX charts to determine where we’re headed in the week to come. We analyze the two different short squeeze rallys that we had at the end of yesterday and today and come to the conclusion that we might have seen the bottom of subwave 3(5) this afternoon. GS chart was very weak throughout the last week, and it finally broke the head and shoulders which sets a target of 60-65$ for the stock. With subwave 4 practically here, we could see a small rally in financials and the SPY to about 74-79 ish at best. After that subwave 5, should take us to lows of around 60-62 on the SPY.
Today we look at the important action and how it backs the bulls 100%. With us hitting close to a double top area on the SPX, the next likely target (after some consolidation) would be the 1046-1090 mark. We do believe that the end of this rally is very near, and that we are talking about less than 2 weeks more of rallying, and that october could be one of the worst months the stock market has seen in a year. We also show how JPM and the XLF are lagging the SPX and that tech is on the forefront of this rally.
Today we look at the alternate views of the longer term market based on Elliott wave analysis. Some other things to keep in mind is that this market needs to retrace very very soon. We managed to call the top around 1044-1046 today, and we expect some sort of selling pressure into monday. We look at SPX, Dow Jones, JPM and XLF (which are both forming H&S formations).
Today I look at the market’s reversal as it was predicted in my last video. A day that only ended up 0.25% UP generated a lot of profits since we were able to take profits on shorts early in the day and go long AAPL, GS as inverse H&S were forming and take profits at the end of the day. There might be a little bit more upside to go before we reverse lower. An inverse H&S target of 90.40-90.53 on the SPY coinciding with a 38.2% fib retracement seems to be like a good potential reversal point for the bears to pile back in.