http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-24.htmlThe markets had a very strong start to the week with a huge gap up at the opening and ran very sharply higher early on as shorts got hammered. They tested the highs on the S&P 500, reaching up to 1112, just 1 1/2 points or so from its 2009 peak. At that point the Nasdaq 100, which did reach over 1800, got 12-13 points from its high and slightly negatively diverged. They then backed off, gave back a good chunk of the gains, stabilized by mid-afternoon, and then in the last 25 minutes cameTue, 24 Nov 2009 06:05:26 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-24.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-19.htmlThe indices managed to come back again in the afternoon to close just beneath the flatline and positive on the OEX. But it was a generally narrowly mixed picture at the close. The day started out with a gap down and a very sharp slide that severely tested support at 1790 NDX and 1102 SPX. They then had a sharp rebound back, but rolled over and retested the lows, made nominal new lows on the NDX but failed to confirm on the SPX. When that occurred they had a nice snapback in the last 2-3 hoursThu, 19 Nov 2009 06:27:20 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-19.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-18.htmlThe indices managed to surge at the end of the day and closed at the highs for the day going away with some gains on the session after some early losses, as this resilient market once again held price and moving average support before moving back up in a nice 5-wave advance from late morning until the end of the day. Net on the day the Dow was up 30.31 at 10437.27, the S&P 500 up 99 cents at 1110.29, and the Nasdaq 100 up 4.65 at 1812.21. However, advance-declines were negative today byWed, 18 Nov 2009 06:01:55 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-18.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-17.htmlThe markets were up again in a very sharp rally to start the week. The day started out with a gap up and a very strong rally that took them to new 2009 highs. They then backed and filled for a few hours and then made nominal new highs above that, reaching 1814 and change on the Nasdaq 100 and close to 1114 on the S&P 500. Then a quick sharp sell off ensued, but in the last 20 minutes they snapped back to close positive. Net on the day the Dow was up 136.64 at 10407.11, the S&P 500 upTue, 17 Nov 2009 05:53:09 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-17.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-13.htmlThe indices finally backed off as profit taking finally set in, but they started with a bang to the upside early on and hit nominal new 2009 highs before they began to back off in the morning. At that point they began to stair-step lower in a nice orderly down-channel all day. I'm not sure if that means we're getting the start of a significant down move just yet, but we'll see if they can at least get downside follow-through in the next day or two. Net on the day the Dow was down 93.79 atFri, 13 Nov 2009 06:06:53 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-13.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-12.htmlThe markets managed to eek out another gain today, although they had a rough road. Despite the early big gap-up and strong surge that took them to new 2009 highs, taking out the October highs on both indices, they reversed sharply lower, bounced and then came down and made lower lows, but only slightly, and couldn't follow-through to the downside in mid-afternoon when they hit their session lows. Then an afternoon 3-wave rally brought them back towards intraday resistance but closed them rightThu, 12 Nov 2009 06:11:02 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-12.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-11.htmlThe markets had a very unusual session and ended mixed but narrow, but underlying technicals told a different story. The day started out with a sharp move up off the lows that tested the Nasdaq 100 mid-to-late October highs. The S&P 500 fell about 5 points short, getting up to 1096.42, the previous high being over 1101. Then they rolled over quite sharply, went to new session lows on the SPX, but the NDX failed to confirm and did not make new lows. That caused a snapback rally. The indicesWed, 11 Nov 2009 06:11:47 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-11.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-10.htmlThe indices had a huge rally today, gapping up sharply at the opening, running hard in the morning, and then working their way steadily higher in a rising channel all session. Then in the last 15minutes they exploded into the close, closing at the highs for the day going away. The bulls couldn't ask for more. Net on the day the Dow was up 203.52 at 10,226.94, just 2 points off its high. The S&P 500 gained 23.78 to 1093.08, just pennies from its high, and the Nasdaq 100 was up 37.64 toTue, 10 Nov 2009 06:06:08 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-10.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-06.htmlIt was a very strong rally from the get-go today. With positive economic news, the market gapped up and ran hard in the morning, and settled into a multi-hour consolidation that lasted for the rest of the session on the Nasdaq 100. But the S&P 500 managed to work its way higher to close at new session and rally highs. Net on the day the Dow was up 203.82 at 10,005.96, closing over 10,000 for the first time in a while. The S&P 500 gained 20.13 at 1066.63, and the Nasdaq 100 was up 40.42Fri, 06 Nov 2009 05:45:13 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-06.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-05.htmlThe indices ended a bit positive on FOMC announcement day, but there were some wild gyrations in between. They gapped up at the opening, backed off, and then ran hard in the morning, reaching over 1700 on the Nasdaq 100 and just above 1060 on the S&P 500. Those were key resistance levels. At that point they drifted lower in a corrective looking pattern until the FOMC announcement, but shortly afterward had some wild gyrations, including a sharp drop and then a sharp rally back. At thatThu, 05 Nov 2009 06:06:15 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-05.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-04.htmlThe indices ended mixed at the end - but it was a pretty interesting day. There was a lot of back and forth vacillation and volatility in the morning, but they failed to break them down below 1660 NDX and 1035 SPX. By late morning they started a rally that took out the highs just slightly, and then backed off and consolidated in what looked like bull flags. The indices then popped out to new session highs by late afternoon, pulled back to retest, held support and then came on again at theWed, 04 Nov 2009 06:04:18 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-04.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-03.htmlThe indices ended to the plus side, but it was very choppy. The day started out with a down move and then an immediate reversal. When the Nasdaq 100 made new lows and the S&P 500 didn't, that caused a positive divergence. They then snapped back very sharply on positive economic news, with the NDX jumping from1657 to 1689, or 32 points in about 35-40 minutes. The SPX rallied from 1037 to 1052. Then they backed and filled, and when they couldn't rally out of those patterns, they rolled overTue, 03 Nov 2009 06:11:08 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-03.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-02.htmlThe indices suffered a nasty slide to end the week. After some early morning vacillation they rolled over hard around 10:30 and just kept going. By mid-afternoon they reached 1665 NDX and 1035 SPX. Over the course of the last couple hours they backed and filled, rallying sharply twice and pulling back sharply. In the last 10 minutes they rolled over and closed near the lows for the day. Net on the day the Dow was down nearly 250 to 9712.73, the S&P 500 nearly 30 at 1036.19, and the NasdaqMon, 02 Nov 2009 05:59:55 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-11-02.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-30.htmlThe market had a very strong snapback rally on Thursday from a deeply oversold condition. The day started with a gap up. They pulled back, tested the intraday moving averages successfully and then exploded to the upside. At that point they settled into a shallower angle of ascent, but nevertheless stair-stepped their way higher all day. They did pull back in the last hour, but in the last 10 minutes snapped back once again to close not far off the session highs. Net on the day the Dow was upFri, 30 Oct 2009 05:28:50 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-30.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-29.htmlThe markets had a nasty follow-through to yesterday's down session, and basically spent the entire day stair-stepping lower, closing very close to the lows for the day. Net on the day the Dow was down 119.48 to 9762.69, the S&P 500 down 20.78 at 1042.63, and the Nasdaq 100 down 40.40 at 1682.06. The technicals were decidedly negative, with one of the more negative readings we've seen in weeks. Advance-declines were lower by about 9 to 1 on New York and by a little less than 6 to 1 onThu, 29 Oct 2009 05:28:58 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-29.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-28.htmlThe indices closed mostly lower today, with the Dow managing to keep its head above water and closing in the plus column as the only index to do so. But the technicals confirmed the negative session today. The day started out with some mixed vacillating movement and then a sharp sell-off ensued after the consumer confidence index came out sharply lower than expected . The indices then bounced sharply to take back nearly all its losses, but rolled over at resistance and went to new lows byWed, 28 Oct 2009 05:36:46 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-28.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-27.htmlThe indices started the week on a negative note, but it sure was different in the morning. The day started out with a sharp move up, testing the highs on the Nasdaq 100, forming a triple top of sorts there, but couldn't punch through. The S&P 500 at the same time reached as high as 1092 and tagged is 4-day declining tops line, but failed there as well. They then sold off very sharply in late morning trade, with the NDX dropping from 1778 to 1740, a 38-point drop in less than an hour, andTue, 27 Oct 2009 06:15:02 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-27.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-23.htmlThe indices ended with a bang on Thursday, but they started out much differently. The indices dropped sharply at the opening and went to new pullback lows. They were short-term oversold at that point, at key trendline support on the Nasdaq 100 and just below key initial support on the S&P 500. They rallied back in a 5-wave advance, with the 5th wave being the sharpest that took the indices to key overhead resistance, only backing off in the last half hour. Net on the day the Dow was upFri, 23 Oct 2009 06:07:06 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-23.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-22.htmlThe indices had an extremely interesting session. The rally continued early on as the indices exploded after positive Wells Fargo (WFC) earnings came out along with earnings by several other companies. The Nasdaq 100 surged from 1755 to 1780.83, a new 2009 high. The S&P 500 exploded over 1100 to 1101.36, and then consolidated for several hours in what looked like potential bull consolidations. But when no rally materialized the indices rolled over very sharply in the last hour. The NDXThu, 22 Oct 2009 05:46:26 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-22.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-21.htmlThe indices moved lower today, but they did recover in the last half of the session to pare the losses. The day started out with a gap up on Nasdaq, though the S&P 500 was flat , they then vacillated back and forth in the morning. After about an hour the indices rolled over hard, with the NDX dropping from 1764 to 1746, and the SPX from 1096 to 1086 at that point, a very sharp drop. They tested support, bounced and for the rest of the session worked their way higher, but couldn't get pastWed, 21 Oct 2009 05:58:00 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-21.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-20.htmlThe market started the week with another gain. However they started out weaker and immediately tested initial support that held. When that occurred they turned around and rallied very sharply, with the NDX rallying from 1732 to 1758, 26 points in 2 hours. The SPX rallied from 1086 to 1099 during that time frame. By late morning they hit their peak, pulled back, retested their high and couldn't get through, made lower lows but the SPX did not. The NDX closing not far off the high for the day,Tue, 20 Oct 2009 05:48:45 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-20.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-16.htmlThe indices managed to squeeze out a gain on the blue chips, but the Nasdaq 100 was down a very small fraction and the Philadelphia Semiconductor Index (SOXX) got hit for more than 1%, so it was a mixed close. But the S&P 500 closed going away at the exact high for the day, spiking up at the close. The NDX did manage to rally late in the session and close near the session highs, but still trailed the SPX and that may have created a negative divergence. The day started out with a gap down,Fri, 16 Oct 2009 05:53:10 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-16.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-15.htmlAnother very bullish day on Wall Street as the indices exploded on very strong pre-market futures due to blowout earnings from Intel (INTC) and JP Morgan (JPM). The indices gapped up, but were quickly met by selling, albeit fairly muted. The indices then went back and forth in coiling action on the Nasdaq 100 and in a rising flag pattern on the S&P 500. Only late in the session were they able to breakout and surge to new 2009 highs, reaching over 1756 on the NDX and across 1093 on the SPX.Thu, 15 Oct 2009 05:26:26 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-15.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-14.htmlThe indices closed mostly lower today, but it was basically a consolidation day. The indices were up early, backed off immediately, stabilized, came on again, and made their session highs on the Nasdaq 100 just before lunch hour. But then they pulled back down again, ran up again, as they basically were back and forth all day. Net on the day the Dow was down just 14.74 at 9871.06, and the S&P 500 down 3 at 1073.19, but the Nasdaq 100 was up 0.64 at 1730.27. Advance-declines were negativeWed, 14 Oct 2009 05:36:50 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-14.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-13.htmlWe had an up-day, but the indices gave back all or most of the gains in an afternoon slide. But they again recovered in the last hour to close up on the session. Net on the day the Dow was up 20.86 at 9885.80, the S&P 500 up 4.70 at 1076.19, and the Nasdaq 100 up only 1.87 to 1729.63, about 13 points off its high for the day. Advance-declines were 16 to 13 positive on New York and 14 to 12 negative on Nasdaq. Up/down volume was about 2 to 1 positive on New York on total volume of a lightTue, 13 Oct 2009 06:16:06 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-13.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-12.htmlThe markets ended the week on a strong note and held support all session, closing at the high for the day and the week on the S&P 500. The session started out with a move down. They quickly reversed after holding support, rallied back sharply to test yesterday afternoon's highs, and then at that point went into a multi-hour consolidation just beneath those highs. With about an hour to go, they punched out, but were unable to follow through, slipped back, but did snapback into the close.Mon, 12 Oct 2009 05:56:51 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-12.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-09.htmlThe indices finished with gains today, but gave back a good chunk of it in the last few hours. They started out with a gap up that broke out across key 2-day resistance. They then backed off and rested successfully and then came on strongly. By mid-day they reached their session highs at 1731 on the Nasdaq 100 and near 1070 on the S&P 500, then backed off into mid-afternoon, tried to rally but couldn't break out again, and finally backed off to close at the afternoon pullback lows. Net onFri, 09 Oct 2009 05:57:10 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-09.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-08.htmlThe markets were mixed at the close, as today was mostly a consolidation-type day until the last hour or so. The indices vacillated between 1700 and 1710 on the Nasdaq 100 and between 1050 and 1057 on the S&P 500 over the first couple hours. Then they meandered sideways, drifted lower, tested the lows, and when that was successful they moved steadily higher over the last two hours of trading. Net on the day the Dow was down 5.67 at 9725.58, but came back 50 points. The S&P 500 closedThu, 08 Oct 2009 05:47:41 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-08.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-07.htmlIt was a very strong turnaround Tuesday as the indices bolted from the get-go and rallied very sharply in the morning, reaching 1712 NDX and over 1060 on the SPX within the first hour and a half. They then rolled over hard by early afternoon, taking back more than two-thirds of the gains before a sharp turnaround move over the last two hours that took back about two-thirds of their losses. Net on the day they closed up 131.50 on the Dow at 9731.25, up 14.26 on the S&P 500 at 1054.72, andWed, 07 Oct 2009 06:09:33 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-07.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-06.htmlIt was a choppy morning, particularly on Nasdaq, but the S&P 500 worked its way higher all day and never broke intraday moving averages. It pulled back in the last hour in a nice bullish flag and ended not far off the highs for the day near key overhead resistance, as did the NDX. Net on the day the Dow was up 112.08 to 9599.75, the S&P 500 up 15.25 to 1040.46, and the Nasdaq 100 up 13.15 to 1675.54. Advance-declines were positive by 5 to 1 on New York and by 2 1/2 to 1 on Nasdaq.Tue, 06 Oct 2009 05:51:32 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-06.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-05.htmlThe indices followed through to the downside, especially early on, and ended lower on the day. But the path was quite interesting. After the early selloff they rallied back very sharply, but came right up to initial key overhead resistance and failed, rolled over to retest, actually made higher lows, then tried to rally back ,but made lower highs. For the next several hours the indices continued to coil in narrowing wedge-type patterns and then when several tries at breaking out failed theyMon, 05 Oct 2009 05:52:51 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-05.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-02.htmlIt was an extremely negative session for the indices as they dropped from the get-go, fell sharply all morning, stabilized around mid-day, tried to rally back mid-afternoon but failed at resistance, and then rolled over, especially in the last 10 minutes when they collapsed into the close. Net on the day the Dow was down 203 at 9509.28, the S&P 500 27.23 to 1029.85, and the Nasdaq 100 a whopping 52.58 to 1666.41. Advance-declines were 5 to 1 negative on New York and 4 1/2 to 1 negative onFri, 02 Oct 2009 05:36:54 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-02.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-01.htmlThe markets ended mixed but it was a wild ride, as volatile swings both ways whipped traders around. The day started out with a gap up and immediately sold off sharply after negative economic news, with the Nasdaq 100 dropping from 1726 to 1691, or 35 points in about a half hour. The S&P 500 dropped from about 1063 to 1047, or 16 points in that same period. It looked like they were starting to form bear flags and may go lower, but when they refused to roll over and started heading higher,Thu, 01 Oct 2009 05:53:02 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-10-01.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-30.htmlThe indices had a downday on Tuesday, giving back some of yesterday's big gains. The day started out with a move to new snapback highs on the S&P 500. At that point, the Nasdaq 100 failed to take out the highs, creating a negative divergence. They sold off quite sharply after consumer sentiment information came out. Then the market bounced, rolled over, and made their session lows in late morning until lunch. A snapback rally ensued, taking back about half the losses, but then they rolledWed, 30 Sep 2009 05:51:51 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-30.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-28.htmlThe indices were down again for the third consecutive session, which is the first time in quite a while, and may have confirmed the the post-FOMC announcement reversal that took place on Wednesday may have turned out to be a significant top. They followed through today with an opening gap to the downside, made new lows on the Nasdaq 100 but did not confirm on the S&P 500, and then they bounced back to fill those gaps. They actually retested the initial resistance highs around 1054 SPX, butMon, 28 Sep 2009 06:33:17 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-28.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-25.htmlThe indices managed to open slightly higher, but immediately went lower and followed through sharply to the downside. The Nasdaq 100 managed to drop from 1735 to 1699 in about an hour. The S&P 500 dropped from 1066 to 1048 in the same period of time, a sharp drop. They did manage to snap back with about a 11-12 point jump in 20 minutes on the NDX and a 6-7 point pop on the SPX. However, resistance proved futile. They pulled back, retested the lows over the next 2-3 hours, then rallied inFri, 25 Sep 2009 05:58:09 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-25.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-23.htmlThe indices had a consolidation day with an upwards bias and managed to close higher again today. The day started out with a gap up and reached new highs on the Nasdaq 100 but failed to do so on the S&P 500. They backed off in a 3-wave decline that held yesterday afternoon's support lows. Another rally try took the SPX to new highs, but the NDX failed to do so, and then they backed off and consolidated pretty much into the close. It was a sloppy afternoon part of the session, but theWed, 23 Sep 2009 05:58:26 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-23.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-22.htmlThe markets had a sloppy session today, but early weakness which looked ominous turned out to be the lows for the day. The indices rallied sharply in the morning, got to nominal new highs on the Nasdaq 100, but fell short on the S&P 500. They meandered sideways for the rest of the day, trying to break out again but couldn't do so. Net on the day the Dow was down 41.34 at 9778.86 and the S&P 500 down 3.64 at 1064.66, but the Nasdaq 100 managed to gain 6.34 to 1731.58. Advance-declinesTue, 22 Sep 2009 05:16:01 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-22.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-21.htmlThe market continued its recent choppiness and consolidation, or is it a topping pattern? We'll likely know by next week. The indices failed on two rally attempts when retested yesterday's high. They couldn't get through both times, and backed off sharply. However, they did end to the plus side on options expiration day, with the Dow up 32.42 at 9816, about 31 points off its high. The S&P 500 was up 2.68 to 1068.17, about 3 points off its high, and the Nasdaq 100 was up 4.15 to 1725.24, 6Mon, 21 Sep 2009 05:51:58 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-21.htmlhttp://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-17.htmlThe markets were choppy early on, although they did have a positive opening. They then backed off, rallied again, backed off again, but then came on with thrust, spiking up to 1720 on the Nasdaq 100 and 1065 on the S&P 500 before backing and filling and retesting. Later on in the afternoon they moved to even higher levels. The NDX reached 1724.67, closing at 1723.73, less than a point off its high, up 24.20. The SPX rallied to close at 1068.76, the high for the day going away, up 16.13.Thu, 17 Sep 2009 05:55:34 GMThttp://www.fxstreet.com/technical/market-view/info@thetechtrader.com (The Technical Trader)http://www.fxstreet.com/technical/market-view/technical-trader-closing-brief/2009-09-17.html