Any Technical Analysis Stock traders here?

[oldtimer]

There is a difference between trading options, using options as a source of income in normal market conditions, and using them as portfolio insurance because you are scared of a big downturn. Just like any tool, there are multiple uses.

[Rockets]

What a crazy day in the market.

Is it or isn't it....

http://thepatternsite.com/flags.html

[Rockets]

I hope I'm not boring you guys with this. I want to make it clear that I'm not an expert, but wish to share items of possible concern. Todays pre-market is up, so we shall see how it closes.

S&P 500 Rising wedge or Ascending triangle. There is a difference, though they look very similar. The rising wedge is bearish, while the ascending triangle is bullish, and generally has a much lower angle of attack.

http://www.growthstockwire.com/2518/beware-of-the-bearish-rising-wedge

Here is the S&P 500 chart. The redlines within the blue channel contain a possible rising wedge. Make no mistake, the charts are not a 100% guarantee that the market will follow past behavior, but as they say, history repeats itself.

Here's a conundrum The Dow is still in it's Bull Flag channel, bouncing from side to side. The premarket is up, will it close up and break out of the channel? Will the S&P follow?

[RT FAN]

As the long as the FED keeps pumping money into the economy the upward trend of the DJIA will continue. This momentum trade has been in place since the FED began it's Quantitative Easing policies following the housing market/credit crises. On the bright side the U.S. has lessened its dependence on foreign oil and now produces the majority of the oil it consumes. By the end of 2014 we will be a net exporter of diesel fuel as the combination of stricter fuel economy requirements and technological advancements in car/truck engineering continue.

On the down side however, the employment participation rate, those people currently employed or actively looking for a job is at historic lows. The Bureau of Labor Statistics does not count those who are no longer avtively seeking employment as "unemployed" or jobless. Realistically the unemployment rate in this country hovers somewhere north of 11%, on the conservative side. The country continues to be plagued by a lack of credit liquidity, as banks are reluctant to lend. Without capital being available, businesses are unable to expand and as such have no need to hire additional workers. The financial ramifications of the Obamacare health care law also contribute to uncertainty for businesses as they have no firm idea as to what their financial liabilities will be vis a vis the new insurance cost landscape. How can you hire when you don't know how much it will cost you to add an additional worker?

Today's Housing numbers were terrible & last week's Non Farm Payroll numbers stunk as well. While the unemployment rate fell, that was due to the number of people who stopped looking for work as well as those whose unemployment benefits ran out. So we sit here in very dangerous territory, with a stock market being supported by the easy money policies of our central bank, who are running a rigged game, by way of artificially depressed interest rates, forcing you in the pursuit of higher yields, to invest in the stock market at the all time highs. Buckle up, it's going to be a bumpy ride.

[Rockets]

On the down side however, the employment participation rate, those people currently employed or actively looking for a job is at historic lows. The Bureau of Labor Statistics does not count those who are no longer avtively seeking employment as "unemployed" or jobless

Yeah, that's me.

I often think back to these words of prophecy http://wn.com/ross_perot_warning_the_giant_sucking_sound While, this doesn't directly apply to me...(then again maybe it does), but as a nation, I'd say it was dead on. Until there are jobs created in this Country, there is just no way this economy will stand up on its own w/o external support. Once jobs are created, the rest of the crap will take care of itself. jmho

Coytee, I owe you a PM...it's coming

[JJkizak]

The Market is kind of like walking into a Casino. The wrong guy sneezes and your equities are no longer equitable.

JJK

[Rockets]

We are about 60 points, give or take, away from a support area in the DOW, and 20 +/- in the S&P. So far I have to give the past two rounds to the grizzly in this MMA bout. Man, has it been ugly...forget the Kung Fu fighting... the bear apparently has Freddy Krueger for a trainer..

It's been over 800 days since the market has had a 10% or greater cleansing. This might be just what the doctor ordered, but that's another 800 points away for the DOW. I hate colonoscopies.

[billybob]

It was and is practically inevitable that the Dow is seeking out support here, as we went through the 15's like a dose of salts. Some near consolidation is in order, as well as a couple on the Dow not producing. Nevermind P&G, the market is used to it's performance and foibles. It should be alright, depending upon your shorterm expectations.

[minermark]

BEA, defense is a good investment.