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 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.
Today we look at the SPY chart longer term, and talk about the fact that the market is showing similar signs to the action we saw 2 weeks ago, only one big thing has changed: The financials continue to underperform the market. Even though today was a commodity based rally due to weakness in the dollar, we believe that tomorrow will be the day that will decide wether this market is able to make new highs or if it’s going to go back lower to play the lower end of the wedge formation. We also talk about the JPM trade that we have on, and look at the financials XLF ETF that is forming a H&S.