Hello,
Welcome to
Stock
Market Trading
the new look newsletter for
2011 from Traders
Day
Trading & Kenny's
Elliott Waves Blog.
I have often been asked about providing an analysis service such as
Khalsa does over at Khalsaspad.com but that is not really what
TradersDayTrading.com and Kennys Elliott WavesBlog is all about.
I do not see how I could provide such a service for free as the time
commitment involved would be quite prohibitive and much as I love all
the discussion and posting, it would be quite a distraction for me from
what I do.
However, in addition to the analysis that I post in Kennys Elliott
Waves Blog, I am able to share some of my analysis with you. I am now
going to try to send out the Stock
Market Trading newsletter on a weekly basis,
with some of the stats and information that I use in my own technical
analysis studies for the week ahead.
Within this, If I can see anything suitable, I will include my levels
for 1 day trade set up and 1 swing trade set up for the week ahead to
see how that works out. Obviously, these trade plans could change as
soon as the market opens so you must do your own research, but
hopefully, it will serve to show some of my methodology and be of some
use to you.
I will develop the format further as we go forward and as always, any
feedback and suggestions are always appreciated.
Important, the information provided here
is supplied for educational purposes only and should not be taken as
financial advice or an inducement to trade. Please refer to the full
terms and conditions at www.tradersdaytrading.com and seek
independent financial advice where necessary.
S&P 500 Cash Index - The
Week Ahead
The
Week That Was...
The analysis that I posted last weekend suggested that despite the
sharp drop it was unlikely that a top was in. Timing studies for the
S&P 500 suggested a CIT was due on Friday 4 Feb and based on
this, we were looking for the market to continue higher into Friday
with a possible spill into early Monday.
The market could not have followed the plan for the week any better as
it promptly shot up to a higher high, printing the high of the week on
Friday near the close.
The
Week Ahead...
This week I am looking for the expected
CIT to see the market fall back towards support at 1276, whether we
take out that level remains to be seen as it is still unclear as to
what degree the CIT will have an effect on and we will need to see how
price action unfolds this week to get a better idea of what to expect
from here medium term.
| Pivots |
Monday |
Weekly |
Monthly |
| R3 |
1326.51 |
1368.46 |
1372.24 |
| R2 |
1317.18 |
1333.96 |
1327.19 |
| R1 |
1314.02 |
1322.41 |
1306.65 |
| Pivot |
1307.85 |
1299.46 |
1282.14 |
| S1 |
1304.69 |
1287.91 |
1261.60 |
| S2 |
1298.52 |
1264.96 |
1237.09 |
| S3 |
1289.19 |
1230.46 |
1192.04 |
| Current |
Week
 |
Month
|
Year
|
| Open |
0 |
1311.00 |
1257.64 |
| High |
0 |
1311.00 |
1311.00 |
| Low |
0 |
1257.62 |
1257.62 |
| Range |
0 |
53.38 |
53.38 |
| Previous |
Day
|
Week
|
Month
|
Year
|
| Open |
1307.01 |
1276.5 |
1257.64 |
1116.56 |
| High |
1311.00 |
1311.00 |
1302.67 |
1219.8 |
| Low |
1301.67 |
1276.5 |
1257.62 |
1011.40 |
| Close |
1310.87 |
1310.87 |
1286.12 |
1258.84 |
| Range |
9.33 |
34.5 |
45.05 |
208.4 |
Key
Support and Resistance Levels
|
1380 |
|
1370 |
|
1326 |
|
1320 |
| High? |
1314 |
| Current |
1310 |
|
1304 |
|
1299 |
|
1288 |
|
1282 |
| Low? |
1276 |
|
1225 |
|
1184 |
Bold
Numbers = Stronger Support and Resistance
Kennys Stock Market Trade for the
Day
| Market |
Trade |
Open |
Target |
| S&P
500 Cash Index |
Sell |
1313
or Best Price |
1299 |
Kennys Stock Market Trade for the
Week
| Market |
Trade |
Open |
Target |
| S&P
500 Cash Index |
Sell |
1311
or Best Price |
1289 |
Thank you for subscribing to Stock
Market Trading, please do us a big favor an send it to a
friend who may find it useful.
Kenny
|
