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Kennys Stock Market Trading - The Week Ahead 7 Feb
February 06, 2011

Issue# 0003 06 Feb 2010

Stock Market Trading

Traders Day Trading & Kenny's Elliott Waves Blog

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Welcome to Stock Market Trading the new look newsletter for 2011 from Traders Day Trading & Kenny's Elliott Waves Blog.

I have often been asked about providing an analysis service such as Khalsa does over at but that is not really what and Kennys Elliott WavesBlog is all about.

I do not see how I could provide such a service for free as the time commitment involved would be quite prohibitive and much as I love all the discussion and posting, it would be quite a distraction for me from what I do.

However, in addition to the analysis that I post in Kennys Elliott Waves Blog, I am able to share some of my analysis with you. I am now going to try to send out the Stock Market Trading newsletter on a  weekly basis, with some of the stats and information that I use in my own technical analysis studies for the week ahead.

Within this, If I can see anything suitable, I will include my levels for 1 day trade set up and 1 swing trade set up for the week ahead to see how that works out. Obviously, these trade plans could change as soon as the market opens so you must do your own research, but hopefully, it will serve to show some of my methodology and be of some use to you.

I will develop the format further as we go forward and as always, any feedback and suggestions are always appreciated.

Important, the information provided here is supplied for educational purposes only and should not be taken as financial advice or an inducement to trade. Please refer to the full terms and conditions at  and seek independent financial advice where necessary.

S&P 500 Cash Index - The Week Ahead

The Week That Was...

The analysis that I posted last weekend suggested that despite the sharp drop it was unlikely that a top was in. Timing studies for the S&P 500 suggested a CIT was due on Friday 4 Feb and based on this, we were looking for the market to continue higher into Friday with a possible spill into early Monday.

The market could not have followed the plan for the week any better as it promptly shot up to a higher high, printing the high of the week on Friday near the close.

The Week Ahead...
This week I am looking for the expected CIT to see the market fall back towards support at 1276, whether we take out that level remains to be seen as it is still unclear as to what degree the CIT will have an effect on and we will need to see how price action unfolds this week to get a better idea of what to expect from here medium term.

Pivots Monday Weekly Monthly
R3 1326.51 1368.46 1372.24
R2 1317.18 1333.96 1327.19
R1 1314.02 1322.41 1306.65
Pivot 1307.85 1299.46 1282.14
S1 1304.69 1287.91 1261.60
S2 1298.52 1264.96 1237.09
S3 1289.19 1230.46 1192.04

Current Week  Stock Market Trading Trend Up Month   Stock Market Trading Trend Up Year  Stock Market Trading Trend Up
Open 0 1311.00 1257.64
High 0 1311.00 1311.00
Low 0 1257.62 1257.62
Range 0 53.38 53.38

Previous Day  Stock Market Trading Trend Up Week Stock Market Trading Trend Up  Month   Stock Market Trading Trend Up Year  Stock Market Trading Trend Up
Open 1307.01 1276.5 1257.64 1116.56
High 1311.00 1311.00 1302.67 1219.8
Low 1301.67 1276.5 1257.62 1011.40
Close 1310.87 1310.87 1286.12 1258.84
Range 9.33 34.5 45.05 208.4

Key Support and Resistance Levels

High? 1314
Current 1310
Low? 1276
Bold Numbers = Stronger Support and Resistance

Kennys Stock Market Trade for the Day

Market Trade Open Target
S&P 500 Cash Index Sell 1313 or Best Price 1299

Kennys Stock Market Trade for the Week

Market Trade Open Target
S&P 500 Cash Index Sell 1311 or Best Price 1289

Kennys Elliott Waves Blog - View Latest Chart Analysis
Kennys Technical Analysis Charts

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