There is a key trend line on the SPDR S&P 500 ETF (NYSEARCA:SPY) stretching from January 31st, to the low of yesterday. This line has been hit multiple times between these two points and has bounced each and every time. Again, the market hammered this line twice in the morning session of trading today. Each time the 10 minute candle on the SPY closed below. As traders were set to pounce, the market spiked higher, negative the close. Each time the markets got below this major trend line, a buy program of epic proportions hit the market. Simply put, computer programs have been set up by institutions in league with the Federal Reserve to keep the markets from breaking this line. It is scary to think of the stock market as being so heavily manipulated. However, watching it trade over the last six weeks leaves little doubt.

• Login to post comments

The coal sector has severely underperformed the major stock averages and the overall energy sector. This morning, the major coal stocks are trading in positive territory, however, they remain weak on the daily charts. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading higher by 0.27 cents to $35.33 a share. KOL will have intra-day resistance around the $35.60, and $36.00 levels. Should KOL decline intra-day the ETF will have support around the $35.00, and $34.30 levels. The daily chart for KOL remains weak and will have daily chart support around the $32.90 level.

• Login to post comments

The markets are seeing red today with the SPDR S&P 500 ETF (NYSEARCA:SPY) trading at $135.86, -0.60 (-0.44%). After Greece received its second bailout over the holiday weekend, the markets have started to show major cracks. Interestingly enough, this is happening just as the retail investor is jumping back into the market. This is setting up for a sell off and pivot top of 2012. Yes, you heard it first here, we are close, if not at the highs of 2012.

• Login to post comments

Inherited (or sometimes called Stretch) IRA’s have been a gift that many children have been receiving from their parents for years. Essentially, if you parent passes away and you inherit their IRA account, you are allowed to distribute money from that IRA over the rest of your lifetime instead of the current distribution the prior owner of the IRA was taking. If the Inherited IRA has $500,000, distributing that money over a 30 or 40 year time frame would surely spread out a lesser tax liability than having to distribute that money over 5 or 10 years as all of the money would generally be included in your ordinary income.

• Login to post comments

The markets are experiencing a bounce back from the sharp drop yesterday. After falling $2.00 yesterday, the SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $135.65, +0.98 (+0.73%). Wall Street is looking at this bounce and wondering if it is a snap back rally that will lead to new highs or just technical bounce, prior to more selling.

• Login to post comments