What This Week May Bring To the Market

Lacking an omniscient crystal ball, I rely on technical analysis (TA) while keeping the bigger macro picture in mind (at least I try to). To supplement my elementary TA skills, I regularly go to several sites on the Internet, and I want to share two of them here.

First one is Tape Talk at Tickerville.com. The link below is the latest Talk available to the general Internet public, in which Q-man, a.k.a. Quint Tatro, discusses the general indices and sectors he's been watching. (They have another set of videos for their paid subscribers.)

• Bullish Until its Not
  "The bulls were not going to give up easily Friday as they worked hard to regain just about all that was lost in the S&P during Thursday’s slide. The NASDAQ didn’t have as bullish a showing but what do we make of the underlying sectors? "

His analysis mostly uses trend lines and price/volume action, clean and simple. I participated in his online Boot Camp of stock analysis last year.

Second one is from a paid site, breakpointtrades.com. They have a free newsletter that you can subscribe to, which is a very, very detailed discussion of major indices by By Steve Nelson & Matthew Frailey. They use all sorts of TA tools - trend lines, price/volume, Elliot Waves, Fibonacci retracement numbers, RSI, MACD, etc. What I find it extremely useful is their long-term charts with parameters (EMA, Stochastic, MACD) set to clearly show when the bull market ended and where we may be heading. The link below is the latest Newsletter.

• Weekend Newsletter for May 10th 2009

They say an interesting thing which is worth highlighting: the last year's high was in May, right in the option expiration week. Will the history repeat itself? We'll see soon enough, but from their analysis the S&P 500 index seems to be fast approaching some critical resistance levels in various parameters. As is, the index is extended.