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Market Trading Guru |
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By Terry Martin
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January 08, 2010
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Happy New Year Everyone! Last week we saw a “breakout” from the consolidation the Market (the S&P) was in for over 1 month; but on low volume due to traders being away for the holidays. This week has proven to be a good week for the Market; especially since volume and the RSI (Relative Strength Indicator) is confirming this up move.
My latest calculations project this up move to stall out at around 1143.25. If the Market does “top out” and starts to make a retracement, then it will allow the Market to catch it breath and go higher (to levels I have already made calculations for and will share when the time is right).
If the Market does stall out at 1143 my Trading Levels will be:
1130.50 to 1131.50
1126.50 to 1128.00
1125.75 to 1124.50
And my Trading Points to watch out for and should be HIT:
1113.25 (most likely)
1097.50 (less likely)
 Click on image to enlarge!
Have a Profitable Day Trading!
For more from the Market Trading Guru, you can follow his blog at http://mrkttradingguru.wordpress.com to receive the daily Trading Levels or on Twitter: @MrktTradingGuru. |
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