Daily Markets - Stock Trading: Playing Ping Pong Between Short Term Fibonacci Levels

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• Stock Trading: Playing Ping Pong Between Short Term Fibonacci Levels
• Stock Market Ends July With An Impressive Gain
• U.S. Economic Expansion Stronger Over Last 4 Quarters Than Following The Last Two Recessions

Stock Trading: Playing Ping Pong Between Short Term Fibonacci Levels Posted: 31 Jul 2010 02:01 AM PDT If you’re feeling as though the market is bouncing aimlessly up and down, you might be right - but in these times, it’s often helpful to draw classic Fibonacci retracement grids to help you determine what levels the market might “ping-pong” off of. Here - let’s take a look at the dominant short-term Fibonacci retracement levels currently in the S&P 500: I started the Fibonacci Grid at the 2010 price high on April 26 at 1,219 and ended the grid with the July 1 low of … [visit site to read more]

Stock Market Ends July With An Impressive Gain Posted: 30 Jul 2010 09:11 PM PDT Friday ended flat for the day, capping off an impressive month — the S&Ps finished July up 6.9%. Some may say that this July move has been on light volume — yes, but it is summer and what’s been impressive is the overall breadth of this move. The Unemployment number will be the key piece of economic data at the end of next week, but there will probably be more focus on the Retail sector and health of the consumer. Do some homework this weekend and take a look at XRT (XRT) and RTH … [visit site to read more]

U.S. Economic Expansion Stronger Over Last 4 Quarters Than Following The Last Two Recessions Posted: 30 Jul 2010 08:45 PM PDT Today’s GDP report from the BEA raised a lot of concerns about the economic recovery, based on headlines and reports like this: 1. Steep decline in GDP growth raises alarms, 2. US recovery loses steam,   3. Double-dip feared as US economic growth loses pace, and 4. The closer you look at the GDP report, the uglier it gets, etc.  But how does GDP growth in this recovery (assuming the recovery started in third quarter of 2009) over the last four quarters (1.6%, 5%, 3.7% … [visit site to read more]

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