Thoughts.....

The Index Watch, Weekend Review and the Trading Spreadsheet are complete. I didnt' have the time or energy to update the short setups. On another note, there are multiple entry points on many of the breakout and longs that I don't list on the spreadsheet so it might not be a terrible idea to look over them individually.

Index Watch for September 21, 2009:

Review for Week of September 21, 2009:

Breakout Setups
(Click on Symbol for Annotated Chart)

AHII Animal Health Intl
ANGO AngioDynamics
TIVO TiVo
VM Virgin Mobile
CHB Champion Enterprises
DRYS Dry Ships
BQI Oilsands Quest
SPWRA SunPower
SRZ Sunrise Senior Living
THRX Theravance
CWST Casella Waste Systems
QRCP Quest Resource
BXG Bluegreen
XTEX Crosstex Energy Gp
CNOA China Organic Agriculture
CENX Century Aluminum
GBE Grubb & Elllis
PTEC Phoenix Technologies
IO ION Geophysical
XTXI Crosstex Energy
TSCM Thestreet.com
ULTR Ultrapetrol
LYG Lloyds TSB Group
MTRX Matrix Service
MGM MGM Mirage
SB Safe Bulkers
SII Smith Intl
SIMG Silicon Image
SIMO Silicon Motion Technology
QMM Quaterra Resources
GMXR GMX Resources
GPXM Golden Phoenix Minerals
URRE Uranium Resources
VLO Valero Energy
IMYN Immunosyn
GNH Global Energy
PETD Petroleum Development
APAC APAC Customer Services
OCNF OceanFreight
CPSL China Precision Steel
PRXI Premier Exhibitions
EGT Elixir Gaming
HALO Halozyme Therapeutics
IMOS ChipMOS Technologies
PLA Playboy Enterprises
PNX Phoenix Cos
OME Omega Protein
PEIX Pacific Ethanol
AURD Accuride
NEON Neonode
MMPQE Meruelo Maddux Properties
ABK Ambak
MBI MBIA Inc
FARO FARO Technologies
AKRX Akorn
FCSX FCStone Group
ACAS American Capital
ANR Alpha Natural Resources
APDN Applied DNA Sciences
MPG Maguire Properties
EMKR EMCORE
ERES eResearch Technology
AWC Alumina
ACMR A.C. Moore Arts & Crafts
AERG Applied Energetics
AFN Alesco Financial
AHD Atlas Pipeline Holdings
AMCN AirMedia
APL Atlas Pipeline Partners
ARP American Reprographics
ARWR Arrowhead
BGP Borders Group
BOLT Bolt Technology
CCO Clear Channel
CEP Constellation Energy
CFX Colfax
CLNH Centerline Holding
CMZ Compton Petroleum
COGT Cogent
COSI Cosi
CPE Callon Petroleum
CT Capital Trust
CTIC Cell Therapeutics
DIVX DivX
DLIA Delia's
DMAN DemandTec
DYN Dynergy
EPEX Edge Petroleum
EVII EV Innovations
FLOW Flow Intl
FMD Firts Marblehead
FR First Industrial Realty
FSNN Fusion Tele
FTK Flotek
GAP Great Atlantic & Pac Tea
GMET GeoMet
GTLS Chart Industries
GU Gushan Environmental
GUID Guidance Software
HCKT Hacket Group
HNT Health Net
HSWI HSW Intl
HW Headwaters
IBCP Independent Bank
IDGG Indigo-Energy
IKAN Ikanos
INAP InterNAP Network
JASO JA Solar
KND Kindred Healthcare
KOOL Thermogenesis
LAVA Magma Design
LCAV LCA-Vision
LIZ Liz Claiborne
MITI Micromet
MNTA Momenta Pharma
NEWS NewStar Financial
NFP National Financial Partners
NLST NetList
ORBC ORBCOMM
PINN Pinnacle Gas
RAIL FreightCar America
RAMS Aries Maritime
SD Sandridge Energy
SKIL SkillSoft
SRI Stoneridge
TBSI TBS Intl
TGIC Triad Guaranty
TWI Titan Intl
WTI W&T Offshore

Long Setups
(Click on Symbol for Annotated Chart)

EK Eastman Kodak
AXAS Abraxas Petroleum
ICO Intl Coal Group
CSUN China Sunergy
NM Navios Maritime
ERTS Electronic Arts
LDK LDK Solar
HERO Hercules Offshore
HLCS Helicos Biosciences
FMCN Focus Media Holdings
DAL Delta Airlines
PNSN Penson Worldwide
AMLN Amylin Pharma
HL Hecla Mining
JMBA Jamba
KHD KHD Humboldt
KRG Kite Realty Group
GA Giant Interactive
GBCI Glacier Bancorp
BBEP BreitBurn Energy
NPO EnPro Industries
BEE Strategic Hotel & Resorts
CNO Conseco
CPX Complete Production Services
BTU Peabody Energy
ALY Allis Chalmers
ELN Elan
CAEI China Architectural
CDII China Direct Industries
CLF Cliffs Natural Resources
ESEA Euroseas
EXM Excel Maritime Carriers
HOV Hovnanian Enterprises
MMR McMoran Exploraton
NGS Natural Gas Services
OMNI OMNI Energy
PCX Patriot Coal
PRGN Paragon Shipping
SGMS Scientific Games
SOLF Solarfun Power
SUPG SuperGen
TEX Terex
TONE TierOne
VGZ Vista Gold
VLCM Volcom
VVI Viad
WRES Warren Resources
XING Xiao Xing Telephone

ETF Setups
(Click on Symbol for Annotated Chart)

DIG ProShares Ultra Oil & Gas
OIL iPath Crude Oil
UYG ProShrares Ultra Financials

Thoughts....

I wanted to update the S&P 500. We are at (near) significant resistance levels across multiple time frames, and I think a pullback is likely sometime in the near future. From an objective and Risk vs Reward standpoint, the smart money is scaling out of or tightening up open long positions. If the levels I've identified on the Daily and Monthly are taken out this week, I'll have to amend my thoughts.

If I come across anything new tonight not posted over the weekend, I'll edit this post.

Index Watch for September 15, 2009:

Thoughts....

The Index Watch, Weekend Review and the Trading Spreadsheet are complete and posted. Regardless what occurs this week, we have an abundance of objective setups to watch.

Post Edit (Sunday Night):
I was scrolling over some longer term charts and thought this would interest those who haven't seen it. This is a Monthly Chart of the S&P 500 that dates back to 1928. As we can see, the price is currently at the "under belly" of a trendline that I think will offer significant resistance. Here is the same Monthly Chart, but I've provided a closer look. I also thought some would be interested in the Monthly Chart of the Gold & Silver Index.

Index Watch for September 14, 2009:

Index Charts

S&P 500 Index ($SPX) -- We are nearing the upper trendline in the Wedge on the Daily Chart. It's managed to hold the price down for the past couple of months. A push over suggests a move to the 1080 area. On the Weekly Chart, we are very close to important intermediate term resistance levels. I think a sustained push over in the short term is unlikely to occur. If a pullback does occur in the next day or three, I'll keep this Chart overhead.

Nasdaq 100 Index ($NDX) -- I'm struggling to find much to draw on the Daily Chart. I've included a possible mini Broad Pattern, but it's not going to require much of an effort to negate it. On the Weekly Chart, it easily knifed through an area where I felt it would struggle at. However, it's sometimes common to "temporarily" punch over before reversing.

Russell 2000 Index ($RUT) -- On the Weekly Chart, the key areas of resistance are 620 and 665. I expect it reach either one or both by the middle of October.

Bank Index ($BKX) -- On the Weekly Chart, support is at 43.75 and 41.00 with resistance at 50.

Dow Transport Index ($TRAN) -- The Weekly Chart is showing no signs of weakness. On the Monthly Chart, there will be significant resistance in the 4300 - 4400 area. I suspect this level could be tested sometime in October and certainly by August 2010.

Crude Oil Index ($WTIC) -- We are once again nearing trendline support on the Daily Chart. It weakens after each test. A failure suggests a move to $55.00.

Semiconductor Index ($SOX) -- On the Weekly Chart, we are nearing the first significant cluster of resistance since the October 2008 lows.

U.S. Dollar Index ($USD) -- Everyone one is expecting the greenback to bounce once it reaches the lower trendline in the Bullish Wedge on the Daily Chart . In my opinion, the Weekly Chart offers the better view. I think the Bull Wedge is going to bust and we're going to test trendline support in the Triangle. I also have a Monthly Chart of the Australian Dollar for the currency traders.

Sentiment & Ratio Charts

Bull Market vs Bear Market -- The Weekly Chart confirms the bulls are in control.

NYSE Bullish Percent Index ($BPNYA) -- The Weekly Chart is updated.

NYSE % Stocks Above 200 MA ($NYA200) -- The Weekly Chart is updated.

Gold & Euro Ratio -- The Weekly Chart is updated.

Nasdaq 100 & Bond Fund Ratio -- The Daily Chart is updated.

Review for Week of September 14, 2009:

Breakout Setups
(Click on Symbol for Annotated Chart)

ANGO AngioDynamics
AKRX Akorn
APAC APAC Customer Services
AXAS Abraxas Petroleum
CPE Callon Petroleum
FARO FARO Technologies
TIVO TiVo
VM Virgin Mobile
FST Forest Oil
PCX Patriot Coal
SKIL SkillSoft
SB Safe Bulkers
PEIX Pacific Ethanol
RUTH Ruth Chris Steak House
VVI Viad
PINN Pinnacle Gas Resources
HERO Hercules Offshore
PNSN Penson Worldwide
HSTX Harris Stratex Networks
ICO Intl Coal Group
IO ION Geophysical
TSCM TheStreet.com
MCHX Marchex
CNOA China Organic Agriculture
XTEX Crosstex Energy
BXG Bluegreen
SD Sandridge Energy
PLLL Parallel Petroleum
FMCN Focus Media
CENX Century Aluminum
ES Energy Solutions
MITI Micromet
GA Giant Interactive Group
CFX Colfax
HCKT Hackett Group
COGT Cogent
CRNT Ceragon Networks
RAMS Aries Maritime
UTSI UTStarcom
SGI Silicon Graphics
RT Ruby Tuesday
DRYS Dry Ships
EMKR EMKOR Corp
ENZ Enzo BioChem
FCSX FCStone Group
FSN Fusion Telecommunications
ABK Ambak Financial
ACI Arch Coal
ACMR A.C. Moore Arts & Crafts
AHII Animal Health Intl
AIZ Assurant
GTLS Chart Industries
BEE Strategic Hotel & Resorts
BOLT Bolt Technology
CGLD Capital Gold
ZOLL ZOLL Medical
CLF Cliffs Natural Resources
ANR Alpha Natural Resources
GMET GeoMet
KHD KHD Humboldt Wedag
KND Kindred Healthcare
KOOL Thermogenesis
MBI MBIA Inc
NGS Natural Gas Services
NPO EnPro Industries
PNX Phoenix Cos
SIMO Silicon Motion Technology
SPR Spirit AeroSystems
SRI Stoneridge
SRZ Sunrise Senior Living
SUPG SuperGen
TBSI TBSI Intl
TEX Terex
TWI Titan Intl
WTI W&T Offshore
AFN Alesco Financial
AI Arlington Asset Investment
ALXA Alexza Pharma
ALY Allis Chambers
AMB AMB Property
AMCN AirMedia
ARP American Reprographics
ARTG Art Technology
AWC Alumina
BDC Belden
BGP Borders Group
BIDZ Bidz.com
BZH Beazer Homes
CCO Clear Channel Outdoor
CCTR China Crescent
CEP Constellation Energy
CLNH Centerline Holdings
CNO Conseco
CT Capital Trust
CTIC Cell Therapeutics
DLIA Delia's
DMAN DemandTec
DYN Dynergy
EHTH eHeatlh
EMAN eMagin
EPEX Edge Petroleum
ERES eResearch Technology
EVII EV Innovations
FLOW Flow Intl
FMD First Marblehead
FR First Industrial Realty
GAP Great Atlantic Tea
GUID Guidance Software
HNT Health Net
HSWI HSW Intl
HW Headwaters
IBCP Independent Bank
IKAN Ikanos
INAP InterNap Tech
INTT inTest
JMBA Jamba
KIM Kimco Realty
LAVA Magma Design
LCAV LCA-Vision
LVS Las Vegas Sands
LXRX Lexicon Pharma
LYG Lloyds TSB
MNTA Momenta Pharma
MVG MAG Silver
MWA Muellar Water Products
NFP National Financial Partners
NLST Netlist
PEI Pennsylvania REIT
PTSC Patriot Scientific
RAIL FreightCar America
RX IMX Health
SIGM Sigma Designs
SONS Sonus Networks
SUNV Sunovia Energy Technologies
SYMX Synthesis Energy
TMR Meridian Res
TPGI Thomas Properties
ULTR Ultrapetrol

Long Setups
(Click on Symbol for Annotated Chart)

LDK LDK Solar
AMR AMR Corp
XTXI Crosstex Energy
CGX Consolidated Graphics
CHINA CDC Corp
PRGN Paragon Shipping
SOLF Solarfun Power
LF LeapFrog Enterprises
HOV Hovnanian Enterprises
IRE Ireland Governor
CDII China Direct
LSE CapLease
OMNI OMNI Energy
PFAP Pacific Asia Petroleum
AHD Atlas Pipeline Holdings
GRVY Gravity
ALJ Alon USA Energy
AMLN Amylin Pharma
APL Atals Pipeline Partners
ASIA Asianinfo
BPHX BluePhoenix Solutions
CAEI China Architectural
CMZ Compton Petroleum
DAKT Daktronics
DDR Developers Diversified RE
DIVX DivX
ELN Elan
ESEA Euroseas
EXM Excel Maritime
FTK Flotec
GU Gushan Environmental
HLCS Helicos BioSciences
JRCC James River Coal
JSDA Jones Soda
TASR TASER Intl
TESO Tesco
TRID Trident Microsystems
VISN VisionChina Media
XJT ExpressJet

ETF Setups
(Click on Symbol for Annotated Chart)

IWM iShares Russell 2000
DIG ProShares Ultra Oil & Gas
FXI iShares China
EPP iShares Japan
IYR iShares Real Estate
OIL iPath Crude Oil
GDX Market Vectors Gold Miners
SLV iShares Silver
HYG iShares High Yield Corporate Bonds
IAT iShares U.S. Regional Banks
SSG ProShares UltraShort Semiconductors
FXE Currency Shares Euro
FXY Currency Shares Japanese Yen

Short Setups
(Click on Symbol for Annotated Chart)

Technology:
ADBE Adobe (Daily Chart)
ADI Analog Devices
ADTN ADTRAN
AMKR Amkor Technology
AMZN Amazon.com
ARRS Arris Group
BMC BMC Software
CCI Crown Castle
CHA China Telecom
CNQR Concur Technologies
CSIQ Canadian Solar
DIOD Diodes
DLB Dolby Labs
EXPE Expedia
FISV Fiserv
GLW Corning
JNPR Juniper Networks
LOGI Logitech
MICC Millicom Intl Cellular
MIL Millipore
MTD Mettler Toledo
NATI National Instruments
SBAC SBA Communications
SINA Sina.com
TMO Thermo Fisher Scientific
VSEA Varian Semi

Biotech & Health:
AGN Allergan
ALXN Alexion Pharma
BDX Beckton Dickinson
CERN Cerner
HLF Herbalife
HRC Hill-Rom Holdings
HSIC Henry Schein
HSP Hospira
IDXX IDEXX Labs
IMA Inverness Medical Technology
JNJ Johnson & Johnson
LIFE Life Technologies
MDRX Allscripts
MDVN Medivation
NUVA NuVasive
PRGO Perrigo
PSYS Psychiatric Solutions
RDY Dr. Reddy's Labs (Weekly Chart)
SNY Sanofi-Aventis
STJ St. Jude Medical
TECH Techne
VRTX Vertex Pharma

Materials:
ABX Barrick Gold
AEM Agnico Eagle Mines
AU Anglogold Ashanti
CBT Cabot
FMC FMC Corp
GFI Gold Fields
GG Goldcorp
GOLD Randgold Resources
IFF Intl Flavors & Fragrances
IVN Ivanhoe Mines
LIHR Lihir Gold
NEM Newmont Mining
NEU NewMarket
PAAS Pan American Silver
RS Reliance Steel
SSRI Silver Standard Resources

Finance:
ACF Americredit
AMG Affiliated Managers
BAP Credicorp
BEN Franklin Resources
BLK Blackrock
GHL Greenhill & Co
JLL Jones Lange Lasalle
MORN Morningstar
MTB M&T Bank
PHH PHH Corp

Oil & Gas:
ATW Atwood Oceanics
BBG Bill Barret
CLB Core Labs
CNQ Canadian Natural Resources
CXG CNX Gas
CXO Concho
DO Diamond Offshore
EPD Enterprise Products
EPE Enterprise GP Holdings
ETP Energy Transfer
HK Petrohawk Energy
NTG Natco Group
OKS ONEOK Partners
SM St. Mary Land & Exploration
STO StatoilHydro

Retail:
ARO Aeropostale
BBY Best Buy
COH Coach
DKS Dick's Sporting Goods
GYMB Gymboree
JCP JC Penny
KSS Kohls
M Macy's
NILE Blue Nile
ORLY O'Reilly Automotive
TGT Target
TRLG True Religion

Consumer Goods:
AYI Acuity Brands
BDK Black & Decker
BG Bunge
EL Estee Lauder
PCAR PACCAR
RAI Reynolds American
SMG Scotts Co

Industrial:
CMCO Columbus McKinnon
DY Dycom Industries
FLR Fluor
FTEK Fuel Tech
GR Goodrich
HXM Desarrolladara Homes
IP International Paper
IR Ingersoll-Rand
JOYG Joy Global
NDSN Nordson
OC Owens Corning
PH Parket Hannifin
VAL Valspar

Services:
ALGT Allegiant Travel
CFL Brink's Home Security
CNW Con-Way
CPRT Copart
CVC Cablevision
DTG Dollar Thrifty Auto
GPN Global Payments
IRM Iron Mountain
LAMR Lamar Advertising
OMC Omnicom Group
R Ryder Systems
RBA Ritchie Bros Auctioneers

Other:
AGCO AGCO Corp
BWLD Buffalo Wild Wings
CAKE Cheesecake Factory
DHR Danaher
PFCB P.F. Changs China Bistro
SPG Simon Property Group