8 Pivot Trade Set-ups for Tomorrow Morning... Market Toolbox LIVE
Published: Sun, 01/31/10
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Hi Toolbox Fans,
Is the market breaking down after a long bull run from the March 2009 lows?
Well let us take a quick look.
The S&P 500 is below the 5 day, below the 20 day, below the 50 day and below the 100 day moving averages. It has broken through recent trading channel support and it has made this move on higher than average volume.
None of this bodes well for the market on a longer term basis.
The 200 day moving average is at about 1013 and we have a way to go before we get down there. A more conservative approach might be to watch for a break below the 30 week moving average which is just about the 1050 level.
Tonight we are going to take a look at the S&P500 and mark up some charts so we can move forward with a cautious approach.
On a shorter term basis the S&P has seen 7 closes below the 5 day and we could see a short term bounce here. It will be interesting to see if we can get back up into the recent trading channel.
Tonight we are looking at...
ALSO...
Tonight we will look at 8 Pivot Trade Set-Ups that we got with the new Pivot Trader Software. Be sure and download the Free Pivot Trader Software and paste in the list of 80-80 growth picks.
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Until Next Time...
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