Stock and Commodity Quote Ticker
| Stock index futures rally...slowly |
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| Written by Administrator |
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*All rights reserved. Reproduction or distribution of this newsletter without prior consent is strictly prohibited. August 4th, 2010 Want to know more about option spread strategies? Carley Garner and Traders' Library have recently teamed up, Click here to purchase the Option Spread Advantage DVD from Traders' Library! Stock index futures rally...slowlyAccording to most of the analysis I have read, the average investor (buy and hold, 401k type) seems to be reluctant to put money into the stock market. Additionally, it looks as though many spent the spring liquidating equity positions. However, this overly bearish tone by passive investors combined with historically low PE ratios could pave the way for a significant end of year rally. Nonetheless, we can't help but look for some back and fill trade across the major indices. The current rally has been impressive but we are approaching the upper end of the trading range and are facing the obstacle of bearish seasonal tendencies. It isn't uncommon for large economic events to be the catalyst of an intermediate-term trend change, and Friday's non-farm payrolls number might be too much for the stock bulls to handle. Look for some type of last hurrah rally on Thursday or Friday morning followed by a fizzled rally. In the meantime, we see resistance in the S&P near 1130 and again at 1137. We feel as though being bearish on rallies to, or near, noted levels is the way to go in the near-term. If you are trading the Russell, similar levels are 665 and 683. Resistance in the NASDAQ should be found near 1920. * Due to time constraints and our fiduciary duty to put clients first, the charts provided in this newsletter may not reflect the current session data. However, market analysis and commentary does. Charts provided by Track 'n Trade, Gecko software. **Seasonality is already factored into current prices, any references to such does not indicate future market action. Please note: A mini S&P chart is used because it is better for charting purposes, but trade recommendations can be applied to either the full-sized S&P or the mini. Unless otherwise noted, profit and loss will be based on the mini version.  S&P 500 Futures and Options Trading Recommendations**There is unlimited risk in naked option selling and futures trading Position Trade - Flat
Please note: A mini-NASDAQ chart is used because it is better for charting purposes, trade recommendations will denote whether a mini or full sized contract should be used.  Carley GarnerSenior Analyst / Commodity BrokerDeCarley Tradingcgarner@DeCarleyTrading.com1-866-790-TRADELocal : 702-947-0701http://www.DeCarleyTrading.com http://www.ATradersFirstBookonCommodities.com *Due to the volatile nature of the futures markets some information and charts in this report may not be timely. There is substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. |
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