Henry Ford's MarketWatch LIVE!

2:11 PM
PULLBACK

Not unexpected with the divergence of the DOW/NAZ/SP500 thismorning and the inability of the SP and NAZ to break through to the 50% retracement level.
Now we are vulnerable for a pullback to 980 which would do nice things for the 12Hour RSI and MACD and set up for a unified assault to the next level.

:: Henry Ford ::

12:22 PM
NAZ STUCK TOO

The NAZ has flounderd all morning relative to the DOW and has now formed a pennant that cries for a break.
Notice too it is head-butting that 38% Fibonacci retracement level

:: Henry Ford ::

12:13 PM
TIME FOR THE SHOP AT HOME CHANNEL

lunchtime and not much going on. Right now the DOW is going through a high-level consolidation, hopefully getting ready for the 3PM rampage. 12Hour RSI is in neutral territory and a couple of hours of consolidation would work it back down to even more advantageous territory. SP continues in head butting without success trying to break the 50% Fib number. It's 12hour MACD is getting a little toppy, so a three hour rest might get it back into a more neutral zone before any attack of its own. It made a rising pennant on flagpole this morning which is not a high-odds pattern, so if we can turn that into a bullish flag I would feel a lot better about it.
:: Henry Ford ::

11:42 AM
ACTION SLOWS

All of the action was in the first 30 minutes this morning...I don't really expect to see much until the last hour or so now.
DOW has stalled while SP just can't stay over that 38% retracement level at 1002. Consolidation for a few hours here would be beneficial to get all the indicators back towards the lower side of their ranges, (bullish)
:: Henry Ford ::

11:06 AM
KEY TIMES DURING THE MARKET DAY FOR TRADERS
As you will see, there are key times that we look for during the trading day as being pivotal. Most days, the action centers around those times. Other times of the day are more suitable for a trip to the gas station or lawn bowling; Here are the pivot times we look at for signs of life: (All times are EST)
9:30-9:50...Approx first 20 minutes of trading day. Time when beginning traders lose money on whipsaws and experienced ones capture quick profits. Avoid if you are the former.
9:50-10:10..Oftimes a period of reversal for early morning trades. Market begins to settle into reality as early morning traders take their profits and swing traders look for opportunities.
10:10 to 10:25...usually a continuation of whatever trend was set up in last period.
10:25-10:35 ...A decision point for traders. Many times a turning point reversal or accelerated continuation of previous setup.
11:15-2:00...go bowling...this is the "dangerous time of day" . Traders lunch out and scalpers try to push the indices around to make a quarter here or there.
2:00-2:30...market usually begins to pick up steam:
2:30-3:00...called the 3:00 bubble, even on weak days can show strength into the next pivot point
3:05..if last period was just a bubble, will begin to break here, Otherwise can be a good pivot point.
3:25-3:35...for trending days, this is the time when trends tend to play out
3:40-3:45...can see reversals or acceleration into the close. Reason is that all floor traders have their MOC orders in and everyone has a pretty good idea where the closing range will be.
:: Henry Ford ::

10:49 AM
LEADING INDUSTRIES

Computer Storage
Security Svcs
Brokers
Aerospace Defense Equip
Textiles
Agri
INternet Networking
Money Center Banks

80% of Industry groups positve
58% of Dow stocks positive
Only 28% of NAZ stocks positive on the day
:: Henry Ford ::

10:17 AM
SP NOT CONFIRMING YET...

With DOW excursion as high as it has gotten, SP should have been able to break towards the 50% line. So far it is staggerring. Really needs to get above 1008.25 ...We also still have a small gap just below current levels at 996.70
:: Henry Ford ::

9:24 AM
GOOD MORNING
Overnight trading:
S&P Futures +3.40 Fair Value +2.83
Nasdaq Futures +10.50 Fair Value +.42
DOW Futures +34
:: Henry Ford ::

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