Friday's Market commentary
About 90% of Thursday's market move was in the first 3 hours, with the
rest of the day treading water. Our continuation move was substantial
for all indexes.
Volume was surprisingly better for most of the indexes.
Our DJ-30 target of 11,609 upside target was off by 6 points.
Expect the same today with most of the market move in the first 2 hours.
Indicators late yesterday and post market suggested an early market sell
off for the indexes.
Our YM, [DJ Emini] call for a post market close drop was a good one.
Today look for :
DJ support at 11,682, and 11,630
QQQQ support 46.96 and 46.72, and 46.30
Sp-500 support is at 1296, and 1291
IWM supports at 74.17 and 73.73
TODAY'S MARKET, Friday, August 29, 2008.
Friday's post: "Indicators late yesterday [Thursday] and post market
suggested an early market sell off for the indexes. "[Friday]. That was
good for -171 DJ points!
Again we caught another sharp market reversal, Friday, caught by our
technical patterns on the External Indicators as well as internals.
Today, Monday, September 2, suggests a down day, from a follow thru of
Friday's down move. The NYSE index failed the 50 SMA
DJ-30 target is 11,453, then 11,340.
This market bottom call we have made this past July is NOT THE BOTTOM,
in my opinion, but a oversold bounce in a down market that has plenty of
road to travel in a down move yet to come. This bear market should
challenge some 2000 bear market lows.
GOVERNMENT ECONOMIC REPORTS
Sep 2 12:00 AM Auto Sales <http://biz.yahoo.com/c/terms/auto.html> Aug
- 4.8M NA 4.4M - Sep 2 12:00 AM Truck Sales
<http://biz.yahoo.com/c/terms/auto.html> Aug - 4.8M NA 4.6M - Sep 2
10:00 AM Construction Spending <http://biz.yahoo.com/c/terms/const.html>
Jul - -0.3% -0.4% -0.4% - Sep 2 10:00 AM ISM Index Aug - 50.2 49.5 50.0
- Sep 3 12:00 AM Auto Sales <http://biz.yahoo.com/c/terms/auto.html>
Aug - 4.8M NA 4.4M - Sep 3 12:00 AM Truck Sales
<http://biz.yahoo.com/c/terms/auto.html> Aug - 4.8M NA 4.6M - Sep 3
8:15 AM ADP Employment Aug - - -19K 9K - Sep 3 10:00 AM Factory Orders
<http://biz.yahoo.com/c/terms/facord.html> Jul - 1.0% 0.4% 1.7% - Sep
3 10:35 AM Crude Inventories 08/30 - NA NA -177K - Sep 3 2:00 PM Fed's
Beige Book - - - - - - Sep 4 8:15 AM ADP Employment Aug - - -19K 9K -
Sep 4 8:30 AM Initial Claims <http://biz.yahoo.com/c/terms/claims.html>
08/30 - 415K NA 425K - Sep 4 8:30 AM Productivity
<http://biz.yahoo.com/c/terms/prod.html> -Rev. Q2 - NA 2.9% 2.2% - Sep
4 10:00 AM ISM Services Aug - 50.0 49.0 49.5 - Sep 4 10:35 AM Crude
Inventories 08/30 - NA NA -177K - Sep 5 8:30 AM Average Workweek
<http://biz.yahoo.com/c/terms/emp.html> Aug - 33.7 33.6 33.6 - Sep 5
8:30 AM Hourly Earnings <http://biz.yahoo.com/c/terms/emp.html> Aug -
0.3% 0.3% 0.3% - Sep 5 8:30 AM Nonfarm Payrolls
<http://biz.yahoo.com/c/terms/emp.html> Aug - -60K -70K -51K - Sep 5
8:30 AM Unemployment Rate <http://biz.yahoo.com/c/terms/emp.html> Aug -
5.7% 5.7% 5.7%
SECTOR MOVERS FROM FRIDAY'S MARKET
Shipping , USS, EXM
MOBO OVER THE 50 STOCKS
CSIQ
HOC
BPT
STOCKS < $2KRY
USS
TMM
BBX
SNAP BACKS
CPS
VR
TRA
BEAR BREAK OF 50 SMA AND MOBO
WIND
RBCN
GMO
LSI
EMINI CLASS FIRST WEEK OF SEPTEMBER, 3,4,5
last class this year
SOLD OUT
At Sea Seminars
At Sea Seminars with David Elliott ONE ON ONE !
CRUISE THE MED WITH US: From VENICE to THE GREEK ISLES!
For the first time ever, we are offering a second cruise in the space of
a year: and this is something very special! Come sail with us from the
incredibly beautiful city of Venice, down the Dalmatian Coast on the
Adriatic Sea, into the sunny Eastern Mediterranean and around the corner
to Greece and the Greek Isles!
What could be better - combining business and pleasure may just be the
ticket to the vacation of a lifetime - and may even be written off! Take
advantage of one full and two half days of At-Sea travel to study with
David. Then spend the rest of a wonderful journey exploring with him,
dining with him, and picking his brain? at your leisure, all in some of
the most wonderful historic places on earth! Ship?s cabins are quite
reasonable, and the modest class price of $295 is applicable as a
discount off select WallStreetTeachers products*! So CLICK HERE to
reserve your spot - hey, can you really afford not to. Then contact
Bruce Utter at 1-888-333-3116 , or email him at
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Here's our ITINERARY and a just a bit about each wonderful stop:
Sat 10/4 Venice Italy; depart 5PM
Ah, Venice, truly unique in all the world! Renowned for its ?fluid
avenues, where boats provide door to door transportation around the
beautiful city. You'll want to come early and spend time wandering along
the Grand Canal and over the myriad bridges, through the tiny streets
where the only traffic is by foot, into St. Marcos Square...Venice is
not a place you'll easily forget.
Sun 10/5 Cruise the Adriatic: Classes held all day
Mon 10/6 Piraeus (Athens) Greece; dock 12, depart 8 PM
Athens, named for the Goddess Athena, became the capital of Greece in
1834. Athens will bring to mind the Golden Age of Greece in the 5th
century before Christ, when enormous strides in architecture,
literature, math and science, philosophy and medicine were made. Walk in
the footsteps of the ancients - Sophocles and Euripides, the great
playwrights; Hippocrates, Father of Medicine; Socrates, Plato, and
Aristotle, the greatest names in philosophy; and Herodotus, called the
Father of History. We'll hold morning classes, then we?ll visit the
Parthenon and the Temple of Athena Nike.
Tue 10/7 Mykonos Greece: dock 7 AM, depart 7 PM
According to mythology, Mykonos was where Heracles killed the giants.
The rocks around the island are supposedly their corpses! The harbor
esplanade is lined with open-air cafes where you may be visited by one
of the pelicans who are the island''s mascots; visit the famed
windmills, or travel to the little island of Delos, with ruins to rival
Delphi and Olympia. Read more about Mykonos Island.
Wed 10/8 Katakolon Greece: dock 12, depart 7 PM
We?ll hold classes in the morning, then spend the rest of the day
exploring. Katakolon is basically a port; it's close to the
archeological site of Olympia where the ancient Olympic Games were held;
and there's an Olympic Museum which promises to be most interesting.
Thu 10/9 Corfu Greece: dock 7 AM, depart 5 PM
Homer's Home: Odysseus? last stop was Corfu, where he was washed ashore
when his ship had sunk. The Achilleion Palace was built by the Empress
Elizabeth of Austria in 1891, and houses the Terrace of the Muses. Read
more about Corfu (Kerkyra).
Fri 10/10 Split Croatia: Arrive 8 AM, depart 6 PM (tendering to and fro)
The Emperor Diocletian was Dalmatia's most outstanding contribution to
the Roman Empire. He retired to his birthplace near Split and built a
magnificent palace, a fascinating place to explore. Begun in the Third
Century, it has been built and rebuilt; now this city within a city
displays architecture from the Romanesque to the Baroque.
Sat 10/11 ...and back to Venice Italy: Arrive 7 AM
Contact Allison at 407-719-2592 or
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
for more
information.
*Discounts may be applied to all CDs, CD Sets, VHS tapes (beginner
level), and the AET Live Class: Subscription services and The Ultimate
Emini Class are not eligible for discounts.
Common problems for not receiving Your Yahoo Daily Market Comment Email
1. Inbox full
2. Typo in e-mail address (contact us if you don't receive your signup
receipt)
3. ISP is blocking our e-mails (contact them to let them know you WANT
to receive these e-mails)
4. You are blocking our e-mails (check your junk mail filters) Put our
address in you address book.
5. Your e-mail software is blocking our e-mails (check your filter
settings)
TRADE STATION USERS, WE ARE SETTING UP A SPECIAL PROGRAM FOR YOU TO SET
UP WITH OUR TCNET SETTINGS.
WallStreetTeachers.com is not a registered Investment Advisor, or a
Broker/Dealer, and does not provide investment advice or
recommendations.
Subscribers to the Hotcomm.com site, the Yahoo site, and the
TCNET "firstwave" club are advised that the information, opinions,
and analysis included there are based in good faith on sources
believed to be reliable, but no representation or warranty,
expressed or implied, is made as to their accuracy, completeness, or
correctness. Past performance is not necessarily indicative of the
future performance of stocks posted in the "firstwave" club or
`Hotcomm.com' site, or Yahoo site.
Neither these postings nor the "Firstwave" chat, "Wallstreetteachers"
`Hotcomm.com' site, or yahoo emails, nor any other information
provided on our web sites, or through any other
communication constitutes a recommendation to buy or sell stocks, or
any other investment. Investing involves the risk of loss and
readers are urged to consult with their own independent financial
advisors with respect to any investment.
<http://finance.groups.yahoo.com/STOCKS%20MAKING%20A%20MOBO%20OR%20BULL%\
20KICKER%20MOVE%20UP%20MOVE%20%0bELP%0bACGL%0bUMC%0bABI%0b%0b%0b%0b%0bSp\
ecial%20situations%20from%20the%20TCNET%20Firstwave%20chat%20club.%0b%0b\
%0bSECTOR%20MOVE%0bResorts%20and%20Casinos%20:%20MPEL%20%0bToys%20and%20\
Hobby%20Stores%0bTechnical%20Services%0b%0b%0b%0b%0b%0bBULL%20ENGULFING%\
20%0bRZ%0bIHR%0b%0b*****************************************************\
*****************%0bHere%20is%20an%20audited%20trading%20reco>
Joomla! is Free Software released under the GNU/GPL License. JoomSEF SEO by Artio (http://www.artio.net) - databases, information system and web applications
The news, comments and other copyrighted content are exclusive property of their respective owners. www.tradingurus.com is not affiliated with Reuters, AP or Yahoo News, Google News, or any other publisher whose articles are appear on the Web Site. The news are aggregated by www.tradingurus.com with no claim of Copyright. All trademarks and registered trademarks are the property of their respective owners. Not Legal Nor Financial Advice. www.tradingurus.com does not provide legal or financial advice, the opinions of the articles linked to these pages are those of the authors. All viewpoints expressed by the authors are those of the original author and do not in any way indicate those of www.tradingurus.com.
We do not endorse and are not held responsible for claims made by authors in their individual articles. The accuracy, completeness, adequacy or currency of the Content is not warranted or guaranteed. Your use of information on the Web site, or other materials linked to the Web site is at your own risk.
The columns, articles, and any other features provided on www.tradingurus.com are provided for personal finance and investment information and are not to be construed as investment advice. The views and opinions expressed in an article or column are the author’s own and not necessarily those of www.tradingurus.com and there is no implied endorsement by www.tradingurus.com of any advice or financial strategy.
The information at www.tradingurus.com is NOT a recommendation or solicitation to buy or sell any securities.
(0 vote)