SPY Targets - Updated

SPY - Daily Update

Markets are in trading range, so far going into Memorial Weekend and Monday's market is closed for the Holiday. Looking forward to some more volatility in June, but we will have to see. SPY on a Weekly basis is still in a downward trend. As, looking at this chart the market may try and fill the gap down left May 20, 2010. Let see what the play will be in the next coming days.

SPY - Updated

Wow!! What a day, "The Shot Heard Around The World". The white line in the sand was tagged again today, with a big bounce off. Off to the races into the closing bell from being down over -20 handles in the SPY to going unchanged, then positive.

Wheee!!

SPY - Updated

SPY - Intra Daytrades

SPY - Updated

Well, we tanked. The White line on the chart, is the White line in the Sand sort of, appears no one wants to be in the market in front of the CPI, CORE CPI, and FOMC Meeting Minutes. This were the USA will start to bounce of around so than not. Thurs, Philadelphia Fed Manufacturing Index, Initial Jobless Claims, then Fri its all about EUR stuff and Options Ex.

SPY

SPY UUP FXE - Updated - EOD

EUR/USD

Humm???

Weekend Update - SPY / UUP Hourly Charts

SPY appears to be completing a double bottom here. Very short-term (?!?) Will have to see where this takes us, as European distress are still a very great consideration for all of us.



UUP appears as a safe haven, as EURO/USD continuation of a downward spinal . . .

SPY/UUP - Hourly Charts Updated

SPY was screaming this morning (smoking hot), to the downside, as the UUP which is a US Dollar ETF was roaring to new highs for the morning. Looks like the we will have some paring to do with the HFT and PPT systems. If the market wants to become flat or slightly down into the weekend. Not?!? There is very good institution selling into the weekend. Will see what they decide to do for this weekend and possible into options exp. week, next week.

SPY - Hourly Chart Update

SPY are bouncing all over the place and it appears 117 is a good deal of resistance in the the near short term. MACD is confirming a bearish downward trend in this hourly chart and institution volume selling for today was awesome . . . Will have to see what the weekend will bring for us. Looking to maybe purchasing a 117 options straddle for Jun expiration. We would like to see a re-fill of the gap that was left behind, but, it will be quite a handful with the government in Wall Street affairs. Or maybe, not.?? Markets do not like uncertainty.

Futures - Bloomberg vs Finvz

Hourly Chart - SPY

Where Do We Go From Here?

Futures Up - US Dollar Drops - Will It Hold There?

At the time of this post the US Dollar is dropping and if it can continue to do so, the morning opening will be pretty big. Per http://www.finviz.com/futures.ashx the US Dollar is at 83.79. We are looking for it to retest the 83.55 level and possibly hold there until morning. Futures are showing a positive outcome for now.

Maybe a trap, as there is no real EcoNews and Mondays are usually flat to low volume trading days of late. Jobless numbers on Thursday and Retail Sales on Friday. It all about the Dollar and Greece. EU has prepared, presented a bailout package this weekend and should also see a boost from it in a short term feel good moment.

MGM & SPY

SPY - Updated

LVS - After Earnings

Earnings were better than analysts had thought, but, what a way to have earnings presentation in a downward market trend. Puts won this round, that the time of this post.

Call

19.00

LJJ100619C00019000

3.40

1.75

Put

26.00

LVS100619P00026000

5.90

1.95

Circuit-Breakers Levels for 2010

NYSE Circuit Breakers
In response to the market breaks in October 1987 and October 1989 the New York Stock Exchange instituted circuit breakers to reduce volatility and promote investor confidence. By implementing a pause in trading, investors are given time to assimilate incoming information and the ability to make informed choices during periods of high market volatility.

Rule 80B
Effective April 15, 1998 the SEC approved amendments to Rule 80B (Trading Halts Due to Extraordinary Market Volatility) which revised the halt provisions and the circuit-breaker levels. The trigger levels for a market-wide trading halt were set at 10%, 20% and 30% of the DJIA, calculated at the beginning of each calendar quarter, using the average closing value of the DJIA for the prior month, thereby establishing specific point values for the quarter. Each trigger value is rounded to the nearest 50 points.

The halt for a 10% decline would be one hour if it occurred before 2 p.m., and for 30 minutes if it occurred between 2 and 2:30, but would not halt trading at all after 2:30. The halt for a 20% decline would be two hours if it occurred before 1 p.m., and between 1 p.m. and 2 p.m. for one hour, and close the market for the rest of the day after 2 p.m. If the market declined by 30%, at any time, trading would be halted for the remainder of the day.

Under the previous Rule 80B trigger points (in effect since October 19, 1988) for a market-wide trading halt, a decline of 350 points in the DJIA would halt trading for 30 minutes and a drop of 550 points one hour. These trigger points were hit only once on October 27, 1997, when the DJIA was down 350 at 2:35 p.m. and 550 at 3:30, shutting the market for the remainder of the day.

Nikki - Updated Futures

Nikki responding with more downward slide. Will look at the European opening later on tonight.

SPY - Whee, WOW

SPY dropped like a rock only to somewhat recapture the move to the upside. In the coming days we will probably see a retest of 105 level. HFT or not someone wanted out and fast. Remember, December 2009 before the New Year. Not as big, but, very - very interesting. GS only drop slightly -4/-6 points (Market Maker) how much did you make . . . Mr. Market Maker.

SPY

Breakdown are much faster, than swimming up stream.

LVS - Updated

Looking for some earnings protection, LVS reports tonight.

Jun 2010 Expiration

Call

19.00

LJJ100619C00019000

4.45

1.25

4.35

4.45

3

7,188

Put

26.00

LVS100619P00026000

4.85

0.75

4.65

4.75

10

1,353

Futures - Updated

Appears to be another lower open. Nikki is down and running to catch up with the overall downward trend across the world. As, it was closed for the pass two days for Japanese Holiday's.

SPY and GE - Updated

SPY did cont'd to drop, pushing passed the 116.00 level a minute or two. Markets regain some of the losses for a 100 point swing, however, this did not last either.



GE is GE . . .

Futures - In Play

Today, the Market appears set to open lower. The levels we are watching in the SPY are 116.50(res) and 116.00(sup).

GE - Updated

GE closed below the R1 levels and may cont. to the downside. Unemployment numbers are out on Thurs. Apr 12 gap was pierced, markets may want to close it, testing the 18.30 level.

SPY - Updated. with EOD - Supply and Demand

Updated New Supply and Demand levels. However, price action is were its at.

Sell to Close Put - Target filled. Will look to reposition in a few days or so.

SPY - 60 mins

Before Opening:

Futures - Updated

Appear we are heading lower this morning with the futures pointing down. The plan to rescue Greece is "a short term relief, and that's why we saw a rally yesterday. But just the fact that they had to make it to this point just reminds investors that we are not in a good situation," said Peter Boockvar, equity strategist at Miller Tabak & Co in New York. S&P 500 futures were down 9.3 points and below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 69 points, while Nasdaq 100 futures dipped 15.75 points.

SPY