StockTock.com 8/18/08 - Stock Market Technical Analysis

Published on: Mon, 18 Aug 2008 16:24:21 -0700

StockTock.com discusses today's market action that should be viewed as liberation from options expiration. The dollar and equities pulled back, while several commodities bounced. Watch for this trend to continue in the short-term. We look at important support and resistance levels for the S&P. We don't want to trade financials until we see a break of the XLF channel. We also touch on UUP, GLD, USO, UNG, and FNM. CORRECTION: When speaking about the Descending Bear Market Trendline, I mention resistance levels 1262 and 1256. I meant to say 1362 and 1356!

Author: stocktock
Keywords: technical analysis business charts economics ETF stock market oil NASDAQ QQQQ resistance support S&P SPY StockTock XLF
Added: August 18, 2008