http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-02-08.htmlJack Steiman, On Bulls in Control, but Risk Rising Rapidly (SwingTradeOnline.com) We're overbought, and a larger pullback is coming soon, but that doesn't mean we won't wiggle our way up a few more percent in this market before the bigger selling kicks in. It will kick in, folks. It's not if, but when. The selling will be extremely healthy, and it's very necessary, but since we're still in the buy-all-pullbacks phase of this rally, the market still works its way up higher in the days, andWed, 08 Feb 2012 06:12:28 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-02-08.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-31.htmlJack Steiman, On Unwinding Ahead of More Upside (SwingTradeOnline.com) There comes a time when it's best for everyone who is bullish to step back and take it easy for a while. It's never great to have markets only going in one direction, even if the move is on small candlesticks. If you keep moving higher into overbought daily index charts, at some point you get a very nasty and unwelcome snap down. We started to get very close to that becoming a reality as the Nasdaq got to 75 RSI, while theTue, 31 Jan 2012 13:36:58 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-31.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-24.htmlJack Steiman, On Need for a Healthy Unwinding (SwingTradeOnline.com) The market has been very slowly but very steadily moving higher over the past few months. The daily index charts have been following along with a slow move on the RSI's towards 70, the magic level that tells us that sooner than later we'll need some type of pullback to reset those oscillators. They are bullish, but now right at overbought, and may get a bit more overbought in the days ahead before we top out short-term. 70Tue, 24 Jan 2012 13:36:41 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-24.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-17.htmlAvi Gilburt, On the Start of a Larger Correction (ElliottWaveTrader.net) Our primary count has the top of Wave 3 in the E-mini S&P 500 completed at the 1297 in the early morning Friday after our Bradley Model turn date. This top resulted in a downside market reaction of 27 points thus far, which, based upon the downside volume and MACD readings on our 60 minute chart, was quite strong. In fact, the decline has broken down out of the uptrend channel that the market has maintained for theTue, 17 Jan 2012 13:11:09 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-17.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-03.html2011 was clearly the year of the bull. Why, you ask? Think about it, folks. This market was hit with a tremendous amount of bearish news from all over the world. Europe in terrible shape with many of the Eurozone countries tinkering on bankruptcy. Desperate measures are being taken to try to keep things afloat. Day after day we hear of how dire things are overseas. We know that Japan and China are struggling with their economies, and things are slowing quickly. We then only need to look outTue, 03 Jan 2012 13:04:53 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2012-01-03.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-28.htmlAlexion Pharmaceuticals (ALXN) Alexion Pharmaceuticals (ALXN) begins our list of stocks whose weekly charts we're analyzing for a medium-term holding period (from a few weeks to a few months). Alexion has been in a steady rising up-channel for more than a year and is now flagging, since mid-September, in the 63 to 70 area. A breakout of its current trading range would lead to a target of over 75. Google Inc. (GOOG) Google (GOOG) has been trading in a wide, albeit sideways, range over the lastWed, 28 Dec 2011 08:13:50 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-28.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-19.htmlJack Steiman, On Bears Gain Edge, but Market Still No Where (SwingTradeOnline.com) At least the bears can say that they broke the S&P 500 down below critical support at 1225 this past week, where the 50-day exponential moving averages lived along with the top of a gap up. Two powerful forces together that the bears were able to break through. Barely, but at least they broke it down. The bulls were not able to accomplish the same type of breakout when they embarked on the adventure ofMon, 19 Dec 2011 13:18:48 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-19.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-13.htmlJack Steiman, On Hanging Onto Critical Support by a Thread ( SwingTradeOnline.com ) Overnight Sunday we learned that Moody's decided to join Standard & Poor's and confirm the potential downgrades of many Eurozone countries, which currently have AAA ratings. Now that we have two major rating agencies on board with potential downgrades, the market is more jittery, as an actual downgrade would hurt the financial system. The news reversed the futures to red, though they weren't all that badTue, 13 Dec 2011 14:20:41 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-13.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-07.htmlJack Steiman, On the Bull-Bear Tug-of-War (SwingTradeOnline.com) For a time on Monday, the Dow and S&P 500 were up against their near-term down trend lines at 12,200 and 1265, respectively. The bears needed an excuse to get the bulls to calm down a bit, and finally got one in the form of the S&P 500 warning they would downgrade some Eurozone countries below the top rating of AAA. The result was a drop of roughly 150 points on the Dow from the highs to the lows. It seemed the market wasWed, 07 Dec 2011 06:25:10 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-12-07.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-29.htmlJack Steiman, On Expecting Additional Upside ( SwingTradeOnline.com ) After a very hard fall over five and a half days, the market got extremely oversold a few times and formed positive divergences on the short-term charts. Those divergences in combination with being oversold kicked in Monday. A massive gap up that took out the last gap down a few days back left an island reversal stick on the 60-minute charts. The daily charts started to get down there as well, with the RSI on the QQQ dailyTue, 29 Nov 2011 13:34:37 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-29.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-23.htmlJack Steiman, On Thinking About Protection (SwingTradeOnline.com) Monday brought us the repercussions of the super-committee's failure to come up with a solution to solve the problems abroad. The futures and markets sank in both Asia and Europe. We, naturally, followed their lead. There was nothing to save our markets. We opened down about 150-points on the Dow, and things only worsened from there. It was down nearly 340 points at the lows. Three hundred-point down days are not too unusualWed, 23 Nov 2011 06:12:18 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-23.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-17.htmlJack Steiman, On Do or Die Time for Bulls ( SwingTradeOnline.com ) Wednesday spoke volumes about the type of market we're in right now, a market that can't break out. It's a market that has been moving laterally, but with Wednesday's action, we may be ready for some much deeper downside action. I've been around for a long time, and on Wednesday I saw the two highest prints of the put-call that I've ever seen: 2.77 and 2.03. Those are unheard-of levels of pessimism which almost always lead toThu, 17 Nov 2011 13:43:11 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-17.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-08.htmlJack Steiman, On Decent-Looking Charts Despite Dire Sentiment (SwingTradeOnline.com) I have been around for a long time in this business, and if there's one thing I have learned more than anything else it is that you don't want to be on the side of the masses. Sure, once in a long while they get it right, but most of the time they get it wrong. The masses right now are taking it as a given that the worst case will soon arrive at a theater near you. If you read anything under Yahoo Finance, orTue, 08 Nov 2011 13:58:06 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-08.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-02.htmlMike Paulenoff, On Expected Rally Off Support (MPTrader.com) Although Tuesday's very late session rally in the S&P 500 hardly shows up on the enclosed daily chart of the e-mini S&P, what does show up is the fact that Tuesday's plunge smashed into the sharply rising 20-day moving average at 1212. That level initially was pierced on the downside, but by the close it had contained the selling pressure. As we speak, the 20-day moving average, which is also the mid-point of the BollingerWed, 02 Nov 2011 13:07:09 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-11-02.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-26.htmlJack Steiman, On Buying the Sell-Offs While Sentiment Extremely Bearish (SwingTradeOnline.com) The market rarely moves in the direction of the masses, especially for any extended time period. While we've had two months worth of extreme pessimism, the market has exploded in the last five weeks. We came into Monday wondering if the market could maintain that behavior as fear mounts ahead of Wednesday's EU summit on plans to contain its debt crisis. The market, however, rallied, especially onWed, 26 Oct 2011 06:19:01 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-26.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-18.htmlJack Steiman, On Bear Flag Continues (SwingTradeOnline.com) Monday was a very unhappy day for the stock market as lots of bad news hit over the weekend from Europe and the United States. From Europe we had news that the continent is not situated in a way to prevent defaults from taking place down the road. If one country goes down, the paper losses could take many more with it in a domino effect. Europe pretty much admitted to it being in a state of desperation. On top of that, we had the newTue, 18 Oct 2011 13:16:30 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-18.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-11.htmlJack Steiman, On Not a Pretty Long-Term Picture (SwingTradeOnline.com) Monday represented what I think will take place for the short-term, which is some mild upside overall until things unwind on the sentiment front. The bulls know the trade is full, so any good news, such as today with Sarkozy and Merkel agreeing to flood the system with cash, will help fuel a bear market rally. But that shouldn't be construed as an overall positive in the bigger picture because we all know that throwing goodTue, 11 Oct 2011 13:08:00 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-11.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-04.htmlJack Steiman, On Bear Here Bigger Picture (www.SwingTradeOnline.com) Once the SPX lost a triple bottom at 1260 it was lights out. The market has never recovered from that, and likely won't be any time soon, although a strong rally is not too far off. The bear is here bigger picture, and that should never be lost in your minds, even when a strong counter trend rally ensues. The move down feels endless because we have spent eight weeks moving around a very large range. It's 1235 at the top onTue, 04 Oct 2011 13:43:00 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-10-04.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-09-27.htmlJack Steiman, On Not a "Throw-a-Dart" Reversal (SwingTradeOnline.com) The bears looked strong on Monday intraday when the Nasdaq was lagging badly and they attacked the heavyweight of all heavyweights in Apple (AAPL). The stock tested down to its 50-day exponential moving average at 493, which also happens to be where there's a strong gap at 394. It breached below both of those support levels when it tested 491, but that's when it took back off to the upside. It was a huge save for the techTue, 27 Sep 2011 13:12:37 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-09-27.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-09-21.htmlJack Steiman, On Bearish Sentiment Buffering Stocks (SwingTradeOnline.com) There was every reason for the market to get crushed Monday, including terrible news overnight from Europe regarding Greece, and some bad news right here at home as Moody's was downgrading our individual states. We were down nearly 250 on the Dow in the first hour of action, but from there the market slowly started to recover off the lows. Bearish sentiment numbers are holding things up for now. Eventually, optimismWed, 21 Sep 2011 04:53:37 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-09-21.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-09-05.htmlEven though there was supposed to be job creation near 100K, I don't think anyone should be shocked by the reality of absolutely no job creation. When we study the important economic reports that have come in recently, we see an economy that has consistently been heading lower towards recessionary numbers. The ISM Manufacturing Report has been stuck at 50 for the past two months. Anything below 50 is recessionary (contraction). The fact that we've spent two months in the same place afterMon, 05 Sep 2011 12:30:59 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-09-05.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-31.htmlJack Steiman, On Bearish Bigger Picture (SwingTradeOnline.com) There are times when events take place that are predictable to some, but not at all to others. Take the stock market today, for instance. Not many understand the rally today, nor what will happen in the days to come. It's based purely on two events. The bull-bear spread, and the 21-day put/call levels, are bullish. Simply too much negative sentiment out there short-term. The other factor is the daily index oscillators. The MACD'sWed, 31 Aug 2011 06:09:47 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-31.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-24.htmlJack Steiman, On Not Chasing Market Strength (SwingTradeOnline.com) I spent part of the day in a hospital, and I'm tired, so tonight's report will be a little shorter than usual. The market was very oversold on the short-term charts heading intothe weekend and when those charts get repeatedly oversold, you getbounces for a small period time. You don't expect the world higher, butyou know some type of reflex is on the way. We saw the futures blast upallowing for a higher open. The market triedWed, 24 Aug 2011 06:55:37 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-24.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-16.htmlJack Steiman, On Bears Still in Control (SwingTradeOnline.com) It's normal market behavior to test back up once you get a massive breakdown such as we've gotten. The oscillators got violently oversold at levels rarely, if ever, seen on the daily charts. We went down 2200 on the Dow, and have since retraced 900 of those points. It could go higher still. That doesn't necessarily mean things are bullish now. Not at all. Only a clean blow through 1249 would change that thesis, and I don't thinkTue, 16 Aug 2011 13:22:28 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-16.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-09.htmlJack Steiman, On Technical Damage Everywhere You Turn (SwingTradeOnline.com) The market is down hard Monday morning mostly due to the Standard & Poor's downgrade Friday evening after hours. However, the technical break below 1249 SPX is helping accentuate the move. Next support is the head and shoulders measurement at 1128 but no measurement is necessarily perfect. We are cash and staying cash. Total defensive posture here. Although we had a nice rally off the lows Friday, one thingTue, 09 Aug 2011 05:12:04 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-09.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-02.htmlJack Steiman, On All This News and In the End Nothing (SwingTradeOnline.com) Monday was a bad day in terms of how the market reacted to the good news about the debt ceiling agreement. On the other hand, the bears had the bulls dead and buried, but, as usual, let them off the ground. A strong finish allowed for things to be looked upon as neutral short-term. In the end, all of this news and nothing from nothing. The bears really had their chance today, and may get another chance soon, but youTue, 02 Aug 2011 12:56:01 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-08-02.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-07-27.htmlJack Steiman, On Extreme Caution Warranted (SwingTradeOnline.com) In the end, Monday was not a good day for the markets, but not a terrible one either with lots of risk out there still remaining. The bulls can feel good we didn't crash out but they shouldn't feel too good as a market crash or something at least very bad could occur if the package isn't done correctly for the rating agencies. They won't hesitate to downgrade our debt -- so buyer beware for now. The market is trading in betweenWed, 27 Jul 2011 06:08:10 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-07-27.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-07-20.htmlJack Steiman, On Market Holding Up Despite Debt Impasse (SwingTradeOnline.com) How the nation's leaders could let another weekend go by without coming to a positive resolution is beyond my understanding, but that's what happened, and that's why Monday happened in the stock market. Message sent. It could have been worse, but I think the message should be clearer today that it was before the weekend began. The financial stocks are taking it on the chin in a very big way here. Carnage is the wordWed, 20 Jul 2011 06:10:42 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-07-20.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-07-12.htmlMike Paulenoff, On U.S. Debt Issue Simmering While Rome Burns (MPTrader.com) This afternoon: President Obama and Congressional leaders meet again to try to hammer out a deficit reduction package ahead of the August 1st deadline to raise the debt ceiling. Right now, that issue simmers while Rome burns... but with each passing day, the temperature rises towards boiling. At some point soon, the U.S. bond market will begin to reflect the consequences of inept U.S. leadership amidst partisanTue, 12 Jul 2011 14:18:32 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-07-12.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-29.htmlJack Steiman, On Financials Rising from Dead (SwingTradeOnline.com) The market staged a very nice rally Monday as those MACD's started crossing up positive over negative. No news over the weekend, along with those crosses, gave the market a lift few expected as things looked very dire after the close on Friday. The one positive has been those oscillators on the daily charts, especially those MACD's. It's really funny how things have reversed for this market. Two months ago we were dealing withWed, 29 Jun 2011 06:17:32 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-29.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-22.htmlJack Steiman, On Oversold Bounce (SwingTradeOnline.com) No matter how bad the situation is in terms of poor market action, it's normal protocol to bounce when the oscillators get too compressed to the down side, especially when you study the MACD's. They are at low levels not seen for a very long time, and that has to be respected in terms of a more positive perspective short-term. You can only push things down so much before you are basically forced to have some upside action, which thenWed, 22 Jun 2011 06:44:15 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-22.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-15.htmlJack Steiman, On Time for a Short-term Bounce (SwingTradeOnline.com) It will probably be nothing more than a dead cat bounce, but a bounce is definitely in the cards. It's easy to get caught up in the selling, and think that we'll stay oversold forever, but when you get down to major areas of support -- not to mention 30 RSI on the daily charts and sub-10 on stochastic -- it's time for a bounce to bring up those oscillators. We'll likely only see 2-3% upside, but you can take on some smallWed, 15 Jun 2011 06:49:49 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-15.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-07.htmlJack Steiman, on Downtrend Now Established (SwingTradeOnline.com) You need to recognize a real change when it occurs. Once the bears were able to take out 1320/1315, or the critical trend line in play, it has been lights out for the bulls. It took three full attempts by the bears to get the job done, defending resistance over and over and pounding away at 1315/1320, but they finally got the job done. To that you say it's about time, and it's good for this market. The change in the pattern cameTue, 07 Jun 2011 14:28:57 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-06-07.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-25.htmlJack Steiman, On Bulls' Strength Eroding (SwingTradeOnline.com) No arguing that the bears are making their move over the past couple of weeks. After many tries to first take out 1335 on the S&P 500, on about the fifth try they broke it down and allowed for a back test that ultimately failed for the bulls. It's just what you'd expect from the bears once they captured this first important level of support. Now their focus is 1315 and nothing else. Day by day we're losing a little bit ofWed, 25 May 2011 06:47:00 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-25.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-18.htmlJack Steiman, On the Struggle Over SPX 1315 (SwingTradeOnline.com) It's all about 1315 and 1370. 1370 being the old highs and 1315 being the trend line from the old lows. Anything that takes place in between is simply noise. But my job is to try to figure out which way things will break, which is just not clear right now. The bears are fighting down here. Trying to rid 1335 with force and get through the 50-day exponential moving average at 1327. Because the two levels are so close the bearsWed, 18 May 2011 06:55:41 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-18.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-11.htmlJack Steiman, On Staying Mostly Cash (SwingTradeOnline.com) The weekly charts we know are bearish, but we also know the primary chart to follow is the daily chart. Only when the daily chart confirms the weekly chart can we say with more assuredness that we're about to correct with some force rather than the tiny little selling days we get from time to time. The daily charts for the major indexes are all in bullish inverse patterns and that has to be the focus until broken. The bears can't evenWed, 11 May 2011 06:08:17 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-11.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-04.htmlJack Steiman, On Time to Step Off the Gas (SwingTradeOnline.com) The market began the week with so much hope. Bin Laden was killed by American forces late Sunday, and the market was celebrating it overnight. Futures were up, but only by about 100 points on that news on the Dow. Not exactly what one would expect. It told me what I thought was true in that we were too overbought for the market to make much of a move higher Monday. I warned about this to subscribers in our pre-market update. IWed, 04 May 2011 06:43:14 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-05-04.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-04-27.htmlJack Steiman, On Waiting for Wednesday (SwingTradeOnline.com) The reason the market just isn't doing anything here is quite simple. Bernanke will be out with his statement on interest rates, the state of the economy, and inflation at 12:30 Eastern Time on Wednesday. The market will be hanging on his every word, as well it should be. We all know that inflation is completely out of control. I don't think anyone would argue with that. The market is waiting to hear what he has to say with regardsWed, 27 Apr 2011 06:55:38 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-04-27.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-04-20.htmlJack Steiman, On Bulls' Bigger Picture Still Strong (SwingTradeOnline) The market was given an excuse to sell Monday, but it really was nothing from nothing in terms of hurting the overall big picture bull market, which we are still in 100%. When the market goes down hard for a day or so, even if it's just intraday, fear ramps up. Fear is the king of all emotions, so it takes no work by the market to get some going. A handle, or down period, does the trick in most instances. So Monday we got aWed, 20 Apr 2011 04:54:15 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-04-20.htmlhttp://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-04-12.htmlJack Steiman, On Trying to Put in a Handle (SwingTradeOnline) The market is trying to put in a handle. It has an area of resistance it's struggling with, but also an area of support it appears it doesn't want to lose. Those lines seem to be clear, especially on the Nasdaq where we find gap resistance at 2808, which is stopping all rally attempts. We hit 2808 Friday on the nose for the high of the day. The bottom has two areas that come together as one. The 20-day exponential moving average isTue, 12 Apr 2011 06:46:06 GMThttp://www.fxstreet.com/fundamental/analysis-reports/info@advicetrade.com (AdviceTrade.com)http://www.fxstreet.com/fundamental/analysis-reports/weekly-wizards/2011-04-12.html