S&P 500 day trading course Jan 15 live room daily chart

3 day holiday weekend coming up.

We are hitting major support at 815. Probably bounce here for a temporary low.
Where is this going to go?

If we go below 800 there is nothing to slow down until the previous lows of last year.

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S&P 500 E-mini futures coach Oct 6 2 more charts

Look at the levels we are headed to.

I went back to 03 for some of the levels.

In particular the major trend line at 1032-40

we could be there in two days if not tomorrow.

we are in an area of support.

After hours S&P 500 E-mini futures coach Oct 6 trading education

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S&P 500 Emini futures coach sept 29 levels swing trading

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S&P 500 Emini futures coach for sept 22 levels

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Central banks, the fed and more money into the pool

Overnight Central Banks around the world, including our Federal Reserve, almost quadrupled the amount of dollars central banks can auction around the world to $247 billion in a coordinated bid to ease the crisis.

The Fed increased the amount of dollars that the European Central Bank, the Bank of England, Canada, the Bank of Japan and other counterparts can offer from $67 billion ``to address the continued elevated pressures in U.S. dollar short-term funding markets.'' Investors stockpiled money on concern more financial institutions would fail after the bankruptcy of Lehman Brothers and the problems with AIG. The cost to hedge against losses on U.S. government debt climbed to a record yesterday.

Watch yourelf out there.
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S&P 500 Emini futures coach daily for sept 12

S&P 500 and the Economy. Lehmans wounded.

Treasuries declined after Lehman Brothers Holdings Inc. announced plans to shed assets to survive a crisis of investor confidence, damping demand for the safety of U.S. government debt. Lehman advanced as much as 19 percent on its plan to sell a majority stake in its asset-management unit, spin off commercial real estate and slash its annual dividend 93 percent. The company reported a $3.9 billion loss that was bigger than analysts forecast.

Treasuries briefly rose after Lehman reported a loss. Government debt failed to rally further because investors expect lending programs created by the Federal Reserve this year will keep financial institutions like Lehman from failing.

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emini futures dow live trade sept 10 futures trading coach

Dow emini futures live trade sept 10

this was taken at the Futures Trading Room

Fannie and Freddie moving market

A new era in mortgage lending begins today as Fannie Mae and Freddie Mac transition from Government Sponsored Enterprises to "government owned" and managed entities. The implicit guarantee behind Fannie and Freddie that we've known for decades is now explicit. The CEOs of both companies have been replaced and the companies have been moved into conservatorship by the U.S. Government. So this means the US government owns more of your home than most home owners do.

There are many unknowns, but one thing is clear... for now, the international and domestic stock markets have greeted the "mother of all bailouts" as positive. Stocks are moving significantly higher and treasuries are getting crushed in the stampede to equities. In fact, trading volume was so high in London this morning that the computer system at the London Stock Exchange melted down. London traders have been without access to their computerized pricing system for more than six hours.


Secretary Paulson and James Lockhart, the head of the Federal Housing Finance Agency (FHFA), have indicated that the portfolios of the "former GSEs" must shrink to reduce future risk to taxpayers. That's a nice idea, but who will buy mortgages in this environment if Fannie and Freddie decelerate their purchase activity? And, what kind of mortgages will Fannie and Freddie be buying in the future? Will they take on more or less risk? Will they continue to be saddled with the obviously impossible dual responsibilities of creating shareholder value while meeting the affordable housing goals of our government? Congress needs to define the roles of these two companies for the long term.

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Visa support and resistance with entry and targets

This was a three day hold using the Support as a basis for moving the stops.

Target was taken.

Aug 25 S&P 500 Emini futures daily chart

Housing and the Economy

I have been asked how the market looks for housing.

Consider this, summer is seasonally the time when most home purchases occur. This uptick from month to month is not a relavent figure. Sales normally increase in July and August. There are too many problems even with prime borrowers. This latest uptick is the worst.

Now, even "prime" quality borrowers are falling behind on payments at a record pace. The delinquency rate on prime mortgages hit 3.71% in the first quarter of this year, according to the Mortgage Bankers Association. That's the highest since the MBA started splitting out subprime and prime borrowers back in 1998. The overall delinquency figures go much farther back — to 1979. They show the same thing: A record high delinquency rate of 6.35%.



Home prices are way down, but they show little signs of bottoming out just yet. How Many families can afford 48,000 a year to own a home in Orange County. Yes, intrest rates % are down but how much of a persons income will housing take, 50% or more, this is the fundamental problem. Figures from S&P/Case-Shiller reflect that home prices down 15.8% in May from the same month a year earlier. That's the largest drop on record. Prices fell in all 20 metropolitan areas the firm tracks. Las Vegas (-28.4%), Miami (-28.3%), Phoenix (-26.5%), and multiple markets in California (-24.6% in L.A., -23.2% in San Diego, and -22.9% in San Francisco) are leading the way.

Aug 22 S&P 500 Hourly chart with support and divergence

Have an open gap here from yesterday. Looks like sentiment will hold this market up a little bit.

LEH might be purchased by a Korean Development bank which will help the financials incredibly.

Sentiment is hopeful.

Don't fall in love with the upside on this market.