Henry Ford's MarketWatch LIVE!

3:34 PM
3 O'CLOCK BUBBLE

Moment of truth for today's trading...DOW/SP/NAZ turned on a dime....
Well, we will see what the BOYZ have in mind...did not have the depth of selloff extreme, nor the volume the should have accompanied.

:: Henry Ford ::

2:39 PM
JUST AN UPDATE

As expected the Greenspan announcement was a non-event.
Here's where the SP is right now.

:: Henry Ford ::

2:02 PM
GREENSPAN UP NEXT

:: Henry Ford ::

12:17 PM
BOUNCED OFF THE 38% RETRACEMENT LEVEL FROM YESTERDAY'S HIGH TO TODAY'S LOW...

Still hanging above upper trendline....for now
:: Henry Ford ::

10:39 AM

:: Henry Ford ::

10:34 AM
HMMMMM....

Good economic reports this morning on Durable goods(6.1% increase in May) and New Homes (8.1% jump)which normally would have been great news was completely ignored. Today is also a Greenspan day, so even though there will probably be no surprises We will see if it can get a ripple out of the Indices.

Needless to say, I am not pleased with this morning's failure to fail. I really wanted to see a major capitulation day with 1 Mil puts on the CBOE and a 400 point selloff right out of the box. We didn't even get high volume on the 180+ point DOW selloff and now markets are acting as if they might even try to close gaps today. Now hanging in above the upper trendline on the previous chart.Ideally we would go down to that 8710 area DOW which would leave no excuses for bottom feeders to come in and put some money to work.
:: Henry Ford ::

9:54 AM
TREADING WATER...

As you can see, the 12HR RSI (greenline) needs another day to reach its natural cycle low. 12HR MACD signal line confirms that probable target.
:: Henry Ford ::

9:46 AM
SO FAR AN ORDERLY DECLINE

At 9:40 70% of NAZ stocks are actually up from the opening. I really thought they would go for the jugular here, but the morning is young and I don't expect it to hold for long. I think we could work our way to the 8710 area on the DOW over the next day. 12HR RSI and MACD are not in bottoming position in their cycles yet. Will throw up a chart ifn a few moments.
:: Henry Ford ::

9:12 AM
TO SAY GAP OPENING WOULD BE AN UNDERSTATEMENT HERE
The excuse is WCOM and Adelphia...two companies we already knew were bankrupt, but it is just the excuse needed to take this market down 400 points today. Overnight, the SP500 futures went as low as 35 points before rebounding, but a sense of capitulation will surely hit the street today. We should hit curbs within the first minutes as the DOW goes negative 210 points and SP500 hit a negative 25 points. That will halt computer trading so will slow the descent, but not by much.
:: Henry Ford ::

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