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Mike Paulenoff

XLF Hits First Resistance, An Initial Test for the Bulls

Financial Select Sector SPDR Fund (XLF) has completed its upward traverse across the width of its dominant bullish price channel, as the price structure confronts resistance at 23.80-24.00 next. XLF still has a higher "Swing Target" of 24.30/50, but a challenge of an upper-channel boundary line is always instructive, and should increase investor price sensitivity. That said, only a decline that prints 23.50 will trigger a new down-column of Red O's, while a print of 22.60 is needed to put in a major downside-reversal signal.
Harry Boxer

Strong Comeback with Good Technicals

The stock market indices had a very strong follow-up session early on today, and made new all-time highs on the S&P 500 and Dow. The Nasdaq 100 was not so fortunate, although it did move up in the morning, and then had a nice 5-wave move by midday, reaching 4870, but backed off to 4843 by mid-afternoon, only to bounce back at the end of the day. The S&P 500 reached 2251, and change, a new all-time high, but then backed off to close about four points lower. Net on the day, the Dow was up 65.19 at 19,614.81, a new, all-time closing high. The S&P 500 was up 4.84 at 2246.19. The

AdviceTrade Launches GammaOptimizer.com for Optimizing Options Trades

We are proud to announce that AdviceTrade in partnership with Gilburt Financial Services  and Leo Valencia have teamed to launch GammaOptimizer.com, which features a proprietary tool for picking the optimal strike and expiration when trading options.
 
The tool was developed by Valencia, an electrical engineer formerly with Bell Labs and Cadence Design who holds a PhD in physics from Stanford University.
 
The Gamma Optimizer site also features a trading room where members can interact live with Leo and receive his options trade ideas and analysis of options related to the S&P 500, Metals & Individual Stocks.
 
"Leo has been posting regularly in our ElliottWaveTrader.net room, where members know how knowledgeable and incredibly useful his options posts have been," says Richard Hefter, AdviceTrade president.  "We truly believe that all options traders will hugely benefit from what he has to offer on his own dedicated site for options traders."
 
GammaOptimizer.com is offering a charter member discount rate (discounted by $20/month) along with a free 7-day trial for those who sign up by December 5.
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