Issue# 000 28 Feb 2010 Stock Market Trading Traders Day Trading & Kenny's Elliott Waves Blog Free Newsletter! Having trouble viewing this newsletter? Copy and paste this URL into your browser to view as a web page. https://www.tradersdaytrading.com/stock-market-trading-6.html Learn How to Trade... Learn How to MAKE MONEY! Elliott Wave Principle, Now Available Free:   Robert Prechter has just released a complimentary online edition of Elliott Wave Principle: Key to Market Behavior. All 248-pages of this classic investment book can be on your screen in just minutes. Elliott Wave Principle will teach you the 13 waves that can occur in the charts of the financial markets, the basics of counting waves, and the simple rules and guidelines that will help you to apply Elliott Wave for yourself. You'll learn the method successful investors have used for decades. Access Your Free Copy of Elliott Wave Principle, Now. Hello, Welcome to Stock Market Trading the new look newsletter for 2011 from Traders Day Trading & Kenny's Elliott Waves Blog. 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 www.tradersdaytrading.com  and seek independent financial advice where necessary. S&P 500 Cash Index - The Week Ahead The Week That Was... The plan for last week was to be swing short based on the S&P 500 Futures reaching the C = 0.618 x A at 1342.  This was still short of the equivalent target on the cash market with a potential 1353 target on the cards but we felt that there should be a reactive move anyway. Our estimated posible range for the week was 1353 as a high and 1293 as a low. The market sold off, gapping down on Monday and went all the way to our support zone at 1293. This was where the S&P 500 bottomed out for the week. The Week Ahead... Finding support at 1293 keeps the larger trend intact so we still do not have confirmation of a trend change as yet. This means that we can still not rule out going all the way back up to close Mondays opening gap and then on to 1353 now that 1293 has been confirmed as the medium term pivot. The market has already retraced 50% of the decline and we expect a gap up in S&P cash at the open on Monday. After that is can close the gap and we will probably see a consolidating move whilst the market digests the recent stort term volatility.   Pivots Monday Weekly Monthly R3 1342.48 1406.98 1372.24 R2 1329.21 1362.33 1327.19 R1 1324.55 1341.11 1306.65 Pivot 1315.94 1317.68 1282.14 S1 1311.28 1296.46 1261.60 S2 1302.67 1273.03 1237.09 S3 1289.40 1228.38 1192.04 Current/Trend Week   Month    Year   Open 0 1289.14 1257.64 High 0 1344.07 1344.07 Low 0 1289.14 1257.62 Range 0 54.93 86.45 Previous/Trend Day   Week   Month    Year   Open 1307.34 1338.91 1257.64 1116.56 High 1320.61 1338.91 1302.67 1219.8 Low 1307.34 1294.26 1257.62 1011.40 Close 1319.88 1319.88 1286.12 1258.84 Range 13.27 44.65 45.05 208.4 Key Support and Resistance Levels 1381 1370 1360 High? 1353 1344 1334 1325 1323 Current 1319.88 Low? 1304 1293 1288 1225 1184 Bold Numbers = Stronger Support and Resistance Trade Set Ups for the Week Ahead Last weeks day trade set up was very conservative as were were allowing for a possible pop at 1353 and this did not materialize. The weekly trade set up was short from 1343, again with very conservative target of 1312, and banked 31 points. ****** NOTE: For this format I am using a 10 point stop loss on the weekly trade set up and 3 points on the day trade set up. It is important to remember that technical analysis does not tell us what will happen, it is about the odds and probabilities of what to expect to happen given a certain set of circumstances. As circumstances change so must expectations, and trading plans must be adapted to fit those new circumstances. ****** Kennys Stock Market Trade for the Day Market Trade Open Target S&P 500 Cash Index Sell 1325 or Best Price 1311 Kennys Stock Market Trade for the Week Market Trade Open Target S&P 500 Cash Index Buy 1303  or Best Price 1338 Kennys Elliott Waves Blog - View Latest Chart Analysis Kennys Technical Analysis Charts Thank you for subscribing to Stock Market Trading, please do us a big favor an send it to a friend who may find it useful. Kenny Learn. 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