Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

30,000-Foot View of the S&P 500 and a Review of IBM, Intel Ahead of Earnings

By

Plus, Apple is in a holding pattern for now.

PrintPRINT

MINYANVILLE ORIGINAL We wanted to finish out the week with our 30,000-foot overview of the S&P 500 (INDEXSP:.INX). Currently, we have a Strong Buy (or 5 rating) on the S&P 500. For newer readers, our proprietary algorithm that we use for the S&P 500 and individual stocks has been used for the last 13 years to run institutional money.

In a recent commentary we shared this thought:

Based on our parameters, there are clearly two points on a near term trading basis which are critical to determining the market's next directional move: key resistance at 1459.00 and key support at 1421.50. For those investors / traders who are currently long, I would remain within that posture on an intermediate to longer term basis if price action remains above 1421.50. A close above 1459.00 would warrant adding to a long position.

Based on Thursday's settlement above 1459.00, traders should have added to longs. The caveat is to keep a fairly close stop on the added contracts. Basically, keep a stop at 1446.00 (daily US pit close only).



Sector Review

Health care remains the strongest sector and is rated a 5, or Strong Buy.


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.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE