US stock market summary -- 10/13/09 after close

US stock market barely changed today, waiting for Intel's earning report after close. The good early report which was released after close will probably drive Nasdaq to test resistance at 2157 and $SPX to test resistance at 1080. How they will react to these resistance if they get there will give us better clue regarding to market's short term direction.

US stock markey summary -- 10/13/09 10:00AM PT

Toady' market move could be limited, because a lot of opeople are waiting for Intel's earning which will be released after close today, which could be a market mover. at this moment, I would n't bet how it comes out and how it will affect stock market. Let's just wait to get better idea.

US market summary --- 10/12/09 after close

Today, Nasdaq and $SPX broke above the resistance mention at yertserday's post -- 2140 and 1075, respectivly. $SPX tested 9/23 high at 1080. And Nasdaq went as high as 2057. They close right around 2140 and 1075 level, resoectily. From 60 min Nasdaq chart, Nasadq broke below the short term uptrend, signaling the start of short term correction. Is this just a short term correction or something more than that? It's hard to say at this moment. From the lower volume pattern with the recent bounce, plus some negative divergence from daily MACD and STO, there's chance the market is forming the double top pattern. also, $VIX is testing important support at 23 and its STO is at oversold level. But at the other hand, the trend is up and ADX is showing uptrend strength. So, be careful if you are either bull or bear, at the current moment.

US stock market weekend summary --- 10/11/09

As you have read my blog recently, I have been calling 9/23 top is an important top recently. But the recent strong bounce made me switch my market view from bearish to neutral. From the trend itself, all three trends (short term trend, semi-intermediate trend, intermediate trend)
are all up. Also, my mechanical major top and bottom system issued a new major Buy signal at Friday close.
However, the recent bounce has come with lower volume, which made me to be a little careful about this rally unless Nasadq can decisively break above 2140 and $SPX can decisively break above 1075.

US stock market Summary -- 10/8/09 after close

The major indexes broke above the downtrend line today. Technically, the semi-intermediate trend is up. But my mid and short term view are not bullish. Also, my mechanical major top and bottom system has not issued a new Buy signal as of market close today. Although my QID postion for positioning trading was stopped today, that doesn't mean it's time to buy QLD for positioning trading. The short term trading system for trading SSO and SDS is still at short term buy signal.

US stock market update -- 10/8/09, 6:35AM PT

US stock major indexes broke above their downtrend line at the open. My QID position for position trading was stopped out at the open.

US stock market update --- 12:30AM, PT

From the pre-open future, the US stock market may have a gap up open and break above downtrend line. I use downtrend line resistance of Nasdaq as stop for my postion traidng postion of QID. It could be stopped out tomrrow morning. That's ok. I go by the ruled and I don't fight the trend.