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Rant & Rave Blog

SPY Break Down and Retrace Shows How Support Becomes Resistance

Posted by InTheMoneyStocks.com Tuesday, February 17, 2009, 07:00PM ET

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SPY Break Down and Retrace Shows How Support Becomes Resistance

RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.
SPY Takes out Three Key Resistance Points....However, Major Level $80.00 Still Remains

Posted by InTheMoneyStocks.com Tuesday, February 17, 2009, 07:00PM ET

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SPY Takes out Three Key Resistance Points....However, Major Level $80.00 Still Remains

RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.
Market Technical Analysis Video - Hanging On By A Thread!

Posted by InTheMoneyStocks.com Tuesday, February 17, 2009, 07:00PM ET

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Market Technical Analysis Video - Hanging On By A Thread!
Possible Short Term Turn

Posted by InTheMoneyStocks.com Tuesday, February 17, 2009, 07:00PM ET

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Possible Short Term Turn
Goldman Sachs Breaking Key Trendline. Target Supports Levels On Watch.

Posted by InTheMoneyStocks.com Monday, February 16, 2009, 07:00PM ET

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Goldman Sachs Breaking Key Trendline. Target Supports Levels On Watch.

RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.


This trend line on Goldman Sachs has been intact since January 21st, 2009.  This mornings gap down looks to be taking it out to the downside. Watch the major support lines on the chart in yellow to see if GS gets a bid there.  Also, watch for a close below that line on the daily chart.  Tune into the Research Center videos for daily levels on GS and where the next stop on the daily chart will be along with what to expect from the market in the coming days.
 
SPX Cash Support Levels

Posted by InTheMoneyStocks.com Monday, February 16, 2009, 07:00PM ET

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SPX Cash Support Levels
Will Obama Stimulus Plan Launch Solar?

Posted by InTheMoneyStocks.com Monday, February 16, 2009, 07:00PM ET

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Will Obama Stimulus Plan Launch Solar?

As Obama signs the stimulus bill, the big question begs to be asked...Will solar stocks see a jump?  With billions in the stimulus bill for alternate energy and some directly for solar power, one would think the solar stocks, which have been beaten down, would be a good buy.  This question is not a simple one because pressure from market weakness will continue to weigh on the sector.  Just like a weight on your shoulders, when the market  gets hammered, solar stocks have a lot of trouble staying positive regardless of any money earmarked for them.  In addition, oils continued weakness will mean, aside from the stimulus money, other money will most likely not be invested in their product.  When oil and gas are inexpensive, it is hard for any company in a recession to go out and buy something more expensive when the outlook for the global economy remains so hazy.  It is not cost effective any longer.   However, simple logic and analysis reveals that the solar stocks, when the market finally comes to a rest and begins to tick up, will outperform the markets substantially.  Most of the solar stocks are extremely cheap relative to current cash levels.  The stimulus will catapult them higher as soon as the market gets a bid.  In addition, when the market gets a bid, oil will be a major component of that bid as any sustainable rally will be headed by the financials and commodities. The key now is being patient until the markets come to a solid support line and the financial crisis subsides somewhat. Watch for oil to get a bid or at least begin to form a bottom. At this point, the solar sector looks to be a very good place to be to outperform the market.
Technical Analysis Video - Gap Down Alert! Are We Going Lower or Higher?

Posted by InTheMoneyStocks.com Monday, February 16, 2009, 07:00PM ET

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Technical Analysis Video - Gap Down Alert! Are We Going Lower or Higher?
SPY $80.00 Level...Like The Great Wall Of China

Posted by InTheMoneyStocks.com Monday, February 16, 2009, 07:00PM ET

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SPY $80.00 Level...Like The Great Wall Of China

RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.
Goldman Sachs, The Market Leader Even After Paulson's Departure

Posted by InTheMoneyStocks.com Sunday, February 15, 2009, 07:00PM ET

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Goldman Sachs, The Market Leader Even After Paulson's DepartureAs Henry Paulson took office as the Treasury Secretary of the United States in mid 2006, succeeding John Snow, Goldman Sachs suddenly became a market leader. Henry Paulson, the former director and CEO of Goldman Sachs, along with the other major investment firms, had helped get the U.S Securities and Exchange Commission to drop the net capital requirement from all the major investment houses in 2004. The net capital rule was key in limiting the risk and exposure by these major firms by making them hold reserves. Retracting this rule is seen as one of the major contributors to the Wall Street debacle we are now currently experiencing.

Goldman Sachs began its meteoric rise from one of the many financial firms to the one true elite player as Paulson took power. Goldman Sachs quickly gained traction as the market directional leader almost like a blessed being. They could do no wrong, profits soared and even in this major recession and financial crisis, they remain one of the few still standing, still profiting. The charts speak for themselves, many on Wall Street including the Chief Market Strategists at InTheMoneyStocks.com say, “as goes Goldman, so goes the market”. This connection is one of the true symbiotic relationships in the market and can be seen on a daily basis. Should Goldman Sachs begin to break up, the market usually follows and if Goldman starts to collapse, the markets begin to tumble. Many of the pro traders now watch Goldman Sachs as a leading indicator for the market. To explain this symbiotic relationship further, take a look at the chart from February 5th, 2009. Compare the intra day 5 minute SPY chart and the intra day 5 minute GS chart. Note in the chart how Goldman Sachs and the market both gap lower on the day, however, almost immediately Goldman starts to rally higher and go positive. Goldman continues to rally while the markets sell. However, the selling in the markets quickly subsides as Goldman continues higher. The market begins to rally and continues the upward move for the rest of the day. Note the charts below showing Goldman Sachs leading and the market following.

RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.

RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.

 
Understanding this relationship means that the Goldman Sachs chart must be scrutinized closely to understand the possible movement in the coming weeks and months in the market. As part of InTheMoneystocks.com, we look purely to the technicals in the charts and avoid all the Wall Street hype that contributed greatly to the financial crisis at hand. This allows us to focus on, and project the true direction of the markets.

As we study the charts on Goldman Sachs, there are a few major trend lines that need to be watched closely in the coming days. Should these break, Goldman could see a dramatic move and as we say, where Goldman Sachs goes, the markets will follow.

 

RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.


RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.
 
Understanding that Goldman Sachs leads the market can increase profits.  Goldman has some extremely key levels on its horizon and must be watched very carefully.  The ultimate downside target should support trend lines not hold would be $80 then possibly a retest of the lower pink trend line from the November lows connecting to the January lows.  However, if Goldman Sachs can show some strength here and stay above these key support lines, the target for the next major resistance point is the trend line from the high in November connected to the high in January.  If that resistance point is broken, ultimately Goldman will see $120.

Always watch Goldman Sachs as a leading indicator of the market.  Should it begin to break up or down through key supports or resistance levels, the market is sure to follow.  Remember, the charts tell the truth.
 
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