Monthly Recap

April09: Recap

The month of April was the real first sign of bullishness in quite some time. This was the first month of the S&P making a new monthly high this year and only the 6th positive month since the market’s high in October of 2007. Any up moves from here on out will have quite a bit of support and resistance from the yearly, weekly and daily perspectives so don’t forget to pull out when you are drawing your trendlines in…

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March09 Recap

After a break of the 2002 swing lows, the month of March put in a fairly bullish candle, closing well into the prior monthly candle’s range. This recent breakdown below the 2002 swing low puts us at a 12 year low, which we will probably not fully recover from for quite some time. The long term buy and hold days are over for now, it’s a trader’s market, so be glad you are one!

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Feb09 Recap

The S/P and Dow both broke down and closed below the prior lows set back in 2002, while the NASDAQ and Russell are considerably well off those levels. Nonetheless, the month of February was quite bearish. Earnings, Economic Data, and President Obama’s Stimulus Plan were all contributing factors in the month’s volatility.Even though we are primarily swing traders, it is important to back out and review the indices and individual positions on a larger timeframe as prior levels of support…

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Jan09 Recap

2009 has been one of the worst starts in stock market history. We are still chopping around down near the old 2002/2003 lows and should continue the process during the months to come. We see a bearish engulfment candle on the SPY monthly with no sign of bulls stepping in.

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