Trading the SPX

[cecja]

Just out at 5175

Please how just out of 5175, because todays high was 5194,

 

[roguetrader]

Morning Joules, hope you had a good weekend
Internals have moved positive on both markets confirming this move for the moment.

 

[Racer]

Not convinced yet. ss more at 1201.6 SPX

Dow needs to hold that 10350 level convincingly

 

[roguetrader]

SPX and COMPQ challenging last weeks highs here, INDU lagging.

 

[rrtech]

Dow 10,314.64 +11.20 (+0.11%)
Nasdaq 2,067.15 +9.78 (+0.48%)
S&P 500 1,197.43 +2.99 (+0.25%)

NYSE Volume 316,461,000
Nasdaq Volume 294,145,000
Advances 1241 (41%)
Declines 1561 (52%)
Up Vol* 82 (39%)
Down Vol* 124 (59%)

Might pay to ask RT but those numbers don't look too healthy for the move up we are seeing now. Looks more like short covering.

How can down volume be greater than up when all 3 indices were positive?

 

[roguetrader]

Market internals are still strong, but the move is not being backed up by volume which makes me very suspicious for the moment. INDU still lagging the SPX and COMPQ, will be interesting to see what the afternoon session brings.

 

[Racer]

Yes, RT.

I think that vital ingredient should be the deciding factor for the bears.

Yes I noticed that as well, if there is selling into the close then, bears are still awake

 

[roguetrader]

Internals holding up quite well here going for new highs.

 

[Racer]

So you got the 1212 Olympics eh....

ss the FTSE at 5228

Think that was a loong time ago now Jules


More taxes

 

[FetteredChinos]

interesting isnt it Joules.. you know i mentioned a major low due in october 2012..

well there you go. i didnt even think of the Olympics being a factor in this.

expensive build-up for years, then after the event, euphoria rules and the FTSE climbs for perhaps 5 years..

 

[Racer]

The one upwoman/manship will probably be waived once the true cost of the Olympics at that time comes home to roost. The French will probably get the last laugh.

Ooops I spelt the most important one's name incurrrectly, most humble apolgees kind Sir

 

[FetteredChinos]

but... on another note..a more macro-economic view.....

the increased spending on these developments/inward investment via the multiplier effect (i know, i know) should lead to increased disposable income sloshing around the place therefore bullish into the olympics...

hmm..

can anyone do a quick check of 1940-1948 UK markets or 1976-1984 US? the latter commenced the bull market that lasted 20 years n'est-ce pas?

fc

 

[Racer]

but... on another note..a more macro-economic view.....

the increased spending on these developments/inward investment via the multiplier effect (i know, i know) should lead to increased disposable income sloshing around the place therefore bullish into the olympics...

hmm..

can anyone do a quick check of 1940-1948 UK markets or 1976-1984 US? the latter commenced the bull market that lasted 20 years n'est-ce pas?

fc

But didn't the US lose today? So if the US lose... they will sulk and the markets will go down cos the US is the centre of the world and the universe! (Well they like to think so anyway )

 

[roguetrader]

cos the US is the centre of the world and the universe! (Well they like to think so anyway )

Oh saucer of milk madam

 

[Racer]

Oh saucer of milk madam

For me? Why thank you....

 

[FetteredChinos]

goes well with the biscuits...

 

[roguetrader]

Small caps and Mid caps very strong yesterday, INDU doesn't want to play at all

 

[Racer]

S&P has a little way to go but Dow not far off recent lows

 

[roguetrader]

The news appears slightly jumbled out here in the outback. Anyone got a clear picture yet? People ok?

News still a little jumbled here seems to be more than one explosin in London and an unknown number of fatalities as yet.

 

[Racer]

Seems there were several explosions