Henry Ford's MarketWatch LIVE!

3:54 PM
WHAT A DAYDipped 450 points on the DOW only to recover over 400 points in just the last hour and a half. We did get within about 10 points of the DOW September low, but that was never a gap that gave me much concern. At this point we have all the elelments in place. tomorrow will be an extremely important earnings news day, and we expect that to be supportive, Short term, this end of the day rally got the 15 minute charts over bought, so expect some weakness in the morning, but with the sp closing on its highs, can make a good case for busting through 936.50 tomorrow which should see the opposite kind of capitulation we saw today with short-covering coming in strong on longer term futures contracts. DOW ended 45 points down, but with today's rally that's "just a sneeze" as Truman Capote used to say. NDX had a very nice day picking up over 20 points...SP Futures actually closed up 3.5 points after being down 42 at the low point of the day.
:: Henry Ford ::

3:39 PM
DECENT VOLUME1.95 BIL NYSE at 3:30; NASDAQ 1.67

BIL
:: Henry Ford ::

3:05 PM
UPDATEAs we go into the last hour 12HR RSI has now finallly dropped below 20 on SP and DOW...Bouncing now and MACDs looking in better shape as well...We still have the possible targetof 8235....will post the DOW and the SPU2 chart momentarily.

:: Henry Ford ::

2:51 PM
UPDATEComing into last hour here...We are a little early for the 12hour RSI, but getting a nice rebound off of lows right now. SP 10 points off lows...DOW 100 off bottom...NASDAQs performing the best of all indices.
:: Henry Ford ::

2:18 PM
UPDATELast time the VIX was at this level (42.21) was 24 September. Last gap on any index is an hourly gap at 8235, another 100 points down.
:: Henry Ford ::

1:01 PM
UPDATE12Hour RSI now sitting aroung 25 on SP and DOW. Should drop below 20 and reverse for reaction rally.
:: Henry Ford ::

12:03 PM
UPDATEFibonacci support was 8390...went to 8387.55 and bounced...now we wait and see...
:: Henry Ford ::

10:25 AM
UPDATE Having taken out the lows on SP and DOW we now are susceptible for another 100 points on the DOW. VIX numbers are through the roof with upper Bollinger Band over 40. We left down gap this morning, so that will act as price magnet at some point here

:: Henry Ford ::

9:59 AM

:: Henry Ford ::

9:50 AM
UPDATEDOW testing bottom trendline...

:: Henry Ford ::

9:36 AM
UPDATEQuick drop right out of the box...so much for neutral opening

:: Henry Ford ::

9:15 AM
FLAT OPENSo far, the premarket indicators are showing a relatively flat open today. I have posted the TOP 50 INDUSTRIES for this morning in the left hand column. These are updated on a weekly basis and show where the current trends are.
:: Henry Ford ::

9:12 AM
BUSINESS INVENTORIES UP
Surprise!...consensus for economic prognosticators was for flat to -.2%.....UP .2%. One more for the Bulls. We have another speech on corporate responsibility and new teeth this morning...
:: Henry Ford ::

9:07 AM
OUR SMARTMONEY PROXYTRADER GAVE A SIGNAL THIS WEEKENDWe got a buy signal for one of the indices. Click on then proxytrader link in the left hand column for details.With the DOW sliding to 1997 lows this week, the Commercials accumulated Futures contracts and INCREASED their 58% bullish stance to 60% DESPITE THE SELLOFF. Our 13% protective stop was hit on 6/20 to exit flat on this trade at 9830. This week, with the pullback on the DOW and the INCREASE in net long Commercials for the last two weeks, we are going long Monday morning. Less risk tolerant will wait for first pullback from price increase 13% off of the lows which would put the buy price at 9718.

:: Henry Ford ::

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