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Jeff Cooper: Tuesday's Key Reversal in the S&P 500 May Indicate Further Downside
If SPY retraces to 195, the index could find itself in a weak position.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

If the S&P 500 trades back below Tuesday's low and sees a follow-through below the 20-day moving average it will be a conspicuous change in character for the market; it would suggest Wednesday was a Pause Day following Tuesday's Key Reversals as offered in this morning's report (subscription required).

Offsetting Tuesday's signal bar, reversals open the road to a potential fast move to the topside. However, as a 10-minute SPDR S&P 500 ETF Trust (NYSEARCA:SPY) chart from the Daily Market Report shows, below a retrace to 195 puts the index in a weak position.


Click to enlarge


Twitter: @JeffCooperLive

This article originally appeared on Jeff Cooper's Daily Market Report. To get Jeff's commentary plus day and swing trading ideas each day, take a FREE 14-day trial to Jeff Cooper's Daily Market Report.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Jeff Cooper: Tuesday's Key Reversal in the S&P 500 May Indicate Further Downside
If SPY retraces to 195, the index could find itself in a weak position.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

If the S&P 500 trades back below Tuesday's low and sees a follow-through below the 20-day moving average it will be a conspicuous change in character for the market; it would suggest Wednesday was a Pause Day following Tuesday's Key Reversals as offered in this morning's report (subscription required).

Offsetting Tuesday's signal bar, reversals open the road to a potential fast move to the topside. However, as a 10-minute SPDR S&P 500 ETF Trust (NYSEARCA:SPY) chart from the Daily Market Report shows, below a retrace to 195 puts the index in a weak position.


Click to enlarge


Twitter: @JeffCooperLive

This article originally appeared on Jeff Cooper's Daily Market Report. To get Jeff's commentary plus day and swing trading ideas each day, take a FREE 14-day trial to Jeff Cooper's Daily Market Report.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Jeffrey Cooper
Jeff Cooper: Tuesday's Key Reversal in the S&P 500 May Indicate Further Downside
If SPY retraces to 195, the index could find itself in a weak position.
Jeffrey Cooper    

This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

If the S&P 500 trades back below Tuesday's low and sees a follow-through below the 20-day moving average it will be a conspicuous change in character for the market; it would suggest Wednesday was a Pause Day following Tuesday's Key Reversals as offered in this morning's report (subscription required).

Offsetting Tuesday's signal bar, reversals open the road to a potential fast move to the topside. However, as a 10-minute SPDR S&P 500 ETF Trust (NYSEARCA:SPY) chart from the Daily Market Report shows, below a retrace to 195 puts the index in a weak position.


Click to enlarge


Twitter: @JeffCooperLive

This article originally appeared on Jeff Cooper's Daily Market Report. To get Jeff's commentary plus day and swing trading ideas each day, take a FREE 14-day trial to Jeff Cooper's Daily Market Report.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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