Henry Ford's MarketWatch LIVE!
Intraday Market Insights
:: Friday, June 28, 2002 ::
11:47 PM
:: Henry Ford ::
12:06 PM
:: Henry Ford ::
10:38 AM
HERE'S THE NDX
You can see that all of the indices are tracking together...attacking the highs of 3 days ago as resistance.
12Hour RSI levels are in overbought territory, normally a good spot for some pause to refresh, but we could see an inversion here and watch it continue to trade up with an extended top on the RSI. If not, we will come back about 32% from the last rally range. Would probably be a good entry point.
:: Henry Ford ::
10:15 AM
KEY RESISTANCE
:: Henry Ford ::
10:06 AM
CHICAGO PMI DOWN
This should have triggered a selloff if the bears were in charge...instead the market has rallied to push the DOW over 9300 and SPU to 998.
Still early, but I see this as an underlying positive bias to the markets.
:: Henry Ford ::
10:04 AM
:: Henry Ford ::
9:49 AM
MARKET LEADERS
:: Henry Ford ::
9:44 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 ::
9:28 AM
GOOD MORNING
Probably a small gap on the open.
Michigan Sentiment at 9:45 and all important Chicago PMI due out at 10:am.
Would expect we will traverse down to lower trendline I drew on last chart yesterday afternoon(see Archive)
That of course will be the level to hold and hopefully be the base for another higher-low before moving back to the top of the channel.
:: Henry Ford ::