Saturday, April 4, 2026

May 21, 2009

Trader Art - SPX Weekly

In my May 6th edition of Trader Art, I painted the index and spoke of a key inflection point.

The inflection point proved correct. The market will now fall to it’s next inevitability, the 800 level.

SPX Futures Weekly

SPX Futures Weekly

Peace


Categories: trading

14 Comments »

  • I just rolled 80% of 401k to cash and bonds

    Comment by gauchokid — May 21, 2009 @ 11:11 am

  • did the machines cause the run up at the end?

    Comment by A — May 21, 2009 @ 12:16 pm

  • weaker below!

    Comment by Richard Woon — May 21, 2009 @ 12:33 pm
  • Mr. Volatility

    There was one broker who came in and bid for big size at end of day. The machines ultimately took over, but he tipped off the buying frenzy.

    Comment by Mr. Volatility — May 21, 2009 @ 12:41 pm

  • do you recommend moving 80% of 401k to cash and bonds?

    Comment by A — May 21, 2009 @ 12:42 pm

  • When drawing the Gann lines, how do you chose the starting point?

    Comment by Yaakoo — May 21, 2009 @ 2:30 pm

  • so are you saying there is now way it can go above the red line at this point? and that we’re heading lower to 800?

    Comment by A — May 21, 2009 @ 7:20 pm
  • Mr. Volatility

    There is always a way anything can happen in markets.

    Comment by Mr. Volatility — May 21, 2009 @ 8:29 pm

  • what’s your take on Gerald Celente “THe Collapse of 2009″

    ?

    thanks

    Comment by alex — May 23, 2009 @ 11:28 am
  • Mr. Volatility

    He is far too pessimistic. People who claim they predict things should be judged based upon their track record of being able to monetize such predictions.

    Comment by Mr. Volatility — May 23, 2009 @ 4:27 pm

  • gold/s&p is widening out again in a major way, look for any oppty to get long of slv and gld.

    Comment by matthew herrick — May 23, 2009 @ 6:06 pm

  • some crazy movement in the 10 year. Thanks for this blog…i’m understanding this quite a bit.

    where do you think this is heading?

    Comment by jason — May 27, 2009 @ 3:11 pm

  • what the hek happened in the last 10 mins today? Freakin INSANE

    Comment by jason — May 29, 2009 @ 12:07 pm

  • if it continues to stay under the top of this red line and we eventually hit 1000 on the S&P wouldn’t that mean the market is going up? not necessarily weaker?

    Comment by A — June 1, 2009 @ 8:13 pm

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