Henry Ford's MarketWatch LIVE!

4:03 PM
GOING OUT ON THE LOWSSP Futures have dropped right to the lower support line I drew on the last chart and that's where it looks like we are going to target. What happens now. First will come the short profit-takers who will say .."Enough" and want to take their money off the table. That will cause a rise in price that will bring in the balance of short traders scared of giving away any more and they will cause a reverse panic of short covering. Throw in this mix the momentum traders who will be looking to make a fast buck, and you can bet that the big players have been accumulating all through this selloff who will look to make their killing by driving the markets back up by expirations.
:: Henry Ford ::

3:37 PM
EXTENDED SELLOFF HAS STRETCHED OVERSOLD LEVELS LIKE RUBBER BANDSump'ns gotta give ...VIX out of sight and heavy volume on selling on NYSE at a high of 38.75...30 is bullish. They are really stretching this 12hour cycle out in preperations for a payday going into expirations. With curbs on, you can see where support levels are as we go into the close. The PPI report tomorrow is going to be all important.

:: Henry Ford ::

2:17 PM
CHART SERVER IS DOWN---WILL HAVE UPDATE AS SOON AS CHARTS COME BACK
:: Henry Ford ::

2:13 PM
SUPPORT BROKESp has now dropped thru to 926-927 support and bounced...Heavy volume on NYSE as they run the DOW down to take out stops
:: Henry Ford ::

1:08 PM
BEGINNINGS OF A TURN?MACD and RSi have a small upturn, but we are still looking towards 3PM as optimum time for cycle pivot.

:: Henry Ford ::

12:13 PM
LOOKS LIKE CONSOLIDATION HEREHourly model should turn around by 3PM EST...meanwhile still taking out stops....VIX (Volatility Index) now above 37...over 30 is considered bullish.
:: Henry Ford ::

11:49 AM
RUNNING STOPS AND TESTING BOTTOMSWe broke the support line and have been fooling around at the lows for last half hour. 13Hour RSI is at 7 and MACD remains at bottoming levels...just need time or price to get these two to turn up.
:: Henry Ford ::

10:09 AM
APPEARS THAT WE MAY HAVE SET THE RIGHT SHOULDERLast hourly close may have set the low point for a reverse head and shoulders pattern...time will tell. MACD looks to be bottoming at same time 12Hour RSI is in very oversold territory.(By the way, we actually use a 13 hour RSI/MACD...for those trying to make their charts look the same). )

:: Henry Ford ::

9:53 AM
SPU2 SPIKING DOWN...TOOK OUT STOPS AND BOUNCING SO FAR12Hour RSI now below 10 into very oversold territory.
:: Henry Ford ::

9:43 AM
NOT MUCH GOING ON YET...NO GAPS LEFT UNCLOSEDNeed to get some positive momentum going here.
:: Henry Ford ::

9:18 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 ::

9:08 AM
SLIGHT POSITIVE FOR THE OPENJust the kind of open we want at this point. Not anxious to leave large gaps anywhere now.
The upgrades (CSCO, BRCD, EXTR) and the S&P 500 additions have sparked the advance. The foreign stocks dropped from the S&P 500 (RD, UN, NT, AL, ABX, PDG, N) have come under pressure. Addition of several major market names into the S&P 500 (e.g., GS, UPS, EBAY). Currently, BRCD bid up 7% in pre-market, CSCO +6%, and EBAY +5%.
:: Henry Ford ::

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