What you see below are the actual updates as they were posted by Harry. The only difference between what you see below and what our subscribers see is that the past 24 hours of updates have been removed from the commentary below.
| Date/Time |
Comment |
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| 3/08/2010 12:14:47 PM |
The markets failed to gain any real momentum on the downside in spite of the movement below the 113700 level in the S&P’s. I don’t feel comfortable getting involved in a market that seems to be stalled in a tight range. There may be another test to the downside if the S&P’s can get back down around the 113700 level but if the markets continue to muster up underlying support we could see another week of slow gains and a continued rally. I have a doctor’s appointment in about an hour so this may be my last comment for the day.
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| 3/08/2010 10:12:35 AM |
It’s a bit early in the session for the markets to be stalled in a range. It may suggest a bigger move a bit later in the session but as long as the S&P’s can maintain the 113700 level, I would continue to support a bullish bias in spite of that early selling around the 114000 level.
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| 3/08/2010 09:22:16 AM |
There has been a bit of a setback from the highs but in order for the S&P’s to gain any real downside momentum, that market will need to trade below the 113700 level and below the 188700 level in the NASDAQ.
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| 3/08/2010 08:43:26 AM |
There were some strong buyers on the opening that was able to test my 113050 resistance levels in the S&P’s. I would like to see the S&P’s trade above the 113950 level by at least 150 points in order to see if this rally can gain some momentum. If it fails to do so, I would look to short the market there with a stop above the 114200 level. |
| 3/08/2010 08:12:23 AM |
The equity markets are trading slightly higher this morning as they continue to reflect some of the strength from last week’s session. This strength could continue as long as the S&P’s can maintain the 113300 level and above the 187950 level in the NASDAQ. I am still anticipating a run up to my 118000 objective in the S&P’s but I wouldn’t be surprised to see some major setbacks along the way. The strength in the crude oil futures is helping to attract support to the equities. If that market were to slip back below the 8100 level it could turn the tide and force some profit taking all around the horn. |
| 3/05/2010 11:58:37 AM |
The markets have been able to maintain the support areas I mentioned in the last comment and have been able to rally yet again. I want to keep buying the breaks as long as those levels remain intact. This will be my last comment of the day. I have a lunch meeting that could take some time.
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| 3/05/2010 10:59:00 AM |
The volume has slowed quite a bit since this is a Friday. The slow movement in the market should result in a late move back to the highs but for the time being, I would watch for some weakness to return back below the 113100 level and below the 187900 level in the NASDAQ. |
| 3/05/2010 09:59:34 AM |
The markets have been able to continue to rally making new highs in an impressive way. It looks as if the S&P’s will try and test the 113800 old high set back in January. If that market is able to overcome that level, look for a test of the year highs at the 114700 level. On the other hand, watch for profit taking to resume if the S&P’s fall below the 112900 level and below the 187400 level in the NASDAQ. |
| 3/05/2010 08:50:54 AM |
There’s been a bit of profit taking in the early going but similar to the last few sessions, the underlying support continues to show its presence whenever the markets have a strong setback. The S&P’s are going to have to make a new highs in order to keep the rally alive but if that market fails to do so of if I see a double top, I would look for another round of profit taking that could gain some momentum below the 112700 level in the S&P’s.
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| 3/05/2010 08:06:52 AM |
The markets are trading quite a bit higher this morning in reaction to a better than expected jobs numbers showing the country loosing 36,000 jobs which was far less than expected. It looks like the S&P’s may be able to continue this rally with my upside objective still hovering around the 118000 area. There could be an increase in profit taking if that market were to fall below the 112100 level and below the 185600 level in the NASDAQ. |
