Isam Laroui's  Instablog

Isam Laroui
Send Message
Isam Laroui has been trading stocks professionally since 1996, first at a couple of Wall Street proprietary trading firms, then independently starting in 2004. His preferred holding period and trading time frame have increased over the years from a few hours, using the one-minute and five-minute... More
My blog:
Trading & Musings
  • Line in the Sand  0 comments
    Jun 19, 2009 6:34 PM | about stocks: SPY


    The market is in correction mode, that is now a fact. How low can it go before this ceases to be a correction and turns into something more ominous?
    I think the 875 level on the S&P500 (shown in the chart above-click to enlarge-in orange) is extremely important for the very simple reason that it has proved to be quite a formidable resistance on the way up. Indeed, four attempts were needed to break out of it: on January 28, February 9, April 17 and, finally, success in early May. It then acted as support when the market wavered in mid-May.
    So any decisive move below 875 should have us legitimately make arrangements for a proper burial of the bull move off the 666 low.
    Stocks: SPY
Back To Isam Laroui's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • The VIX is getting tantalizingly close to support. Should it break it decisively, one would expect this market to power up big time.
    Apr 8, 2009
  • New article:
    Apr 7, 2009
More »

Latest Comments

Most Commented
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.