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FirstAlert(tm) Daily 3/19: Higher Highs Ahead For S&P 500 SPDRs

- Market Commentary -

March 19, 2010 (FinancialWire) (By Frank Kollar) — Both the S&P 500 Index (SPX) and its tracking ETF the S&P Deposit Receipts (NYSE: SPY) continue to move higher in a momentum rally that has not only broken out to new highs, but has considerably higher to go.

Financial markets are becoming overbought as buyers refuse to allow even a single down day, but though there must be short-term profit-taking soon, we expect the stock market to rally to at least the next resistance levels.

For the SPX, the next resistance level is the 61.8% retracement for the entire bear market decline at SPX 1226. That is 5.2% above Thursday’s close at 1165.83.

For the SPY, the next resistance level is the 61.8% retracement for the entire bear market decline at SPY 122.98. That is 5.1% above Thursday’s close at 117.04.

The 61.8% retracement levels typically are the make-or-break points for rallies. If we close above them there will be higher highs but a reversal at or just below SPX 1165 or SPY 117 would start a bout of profit-taking or sideways trading that could last several weeks or more.

Disclosure: The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in the …


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Airline Stock Watch: UAL Corporation - March 17, 2010 (FinancialWire) (Investrend Research Syndicate) — UAL Corporation (NASDAQ: UAUA) (Approx. Market Cap US$ 3.3 Billion) stock closed at $20.18 yesterday on volume of 8,962,900 shares, compared to its $12.80 close on January 4, 2010, on volume of 8,785,900 shares (50 trading sessions ago). UAUA’s average 50 day average adjusted close is $15.12. [...] [...continued]
ValuEngine Analytics On Reddy Ice - March 17, 2010 (FinancialWire) (Investrend Research Syndicate) — ValuEngine has issued a 13-page company summary research report on Reddy Ice Holdings, Inc. (NYSE: FRZ) (Approx. Market Cap US$ 117.9 Million), dated March 11, 2010. Reddy Ice Holdings engages in the manufacture and distribution of packaged ice in the United States. The company was founded in 2003 [...] [...continued]
Security-Tech Stock Watch: LightPath Technologies - March 15, 2010 (FinancialWire) (Investrend Information Syndicate) — LightPath Technologies, Inc. (NASDAQ: LPTH) (Approx. Market Cap: US$ 23.2 Million) stock closed at $2.63 Friday on volume of 46,500 shares, compared to its $1.59 close on December 30, 2009, on volume of 7,200 shares (50 trading sessions ago). LPTH’s average 50 day average adjusted close is [...] [...continued]
China Stock Watch: Food & Beverage Company SkyPeople - March 12, 2010 (FinancialWire) (Investrend Research Syndicate) — SkyPeople Fruit Juice, Inc. (AMEX: SPU) (Approx. Market Cap: US$ 116.9 Million) stock closed at $6.51 yesterday on volume of 396,900 shares, compared to its $4.00 close on volume of 91,400 shares on December 29, 2009 (50 trading sessions ago).  SPU stock’s 50-day average adjusted closing price [...] [...continued]
ValuEngine Upgrades Newmarket, UBS, Franklin, Chesapeake Energy, Encore Capital - March 12, 2010 (FinancialWire) (Investrend Research Syndicate) — ValuEngine, Inc. has upgraded five companies, including Newmarket (NYSE: NEU), UBS AG (NYSE: UBS), Franklin Res (NYSE: BEN), and Chesapeake Energy (NYSE: CHK) to a "5" rating, the service’s highest. The ValuEngine Rating is an overall assessment of a stock's attractiveness. It combines the following five factors: ValuEngine’s [...] [...continued]
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Eldorado Gold USA Conference Call Today, 11:30 A.M. - March 19, 2010 (FinancialWire) (Investrend Broadcast Syndicate) — Eldorado Gold Corporation USA (NYSE: EGO) will hold a Q4 2009 Earnings company conference call today at 11:30 AM Eastern time. Direct access to the call is available via the Conference Call Search function at BestCalls (http://www.bestcalls.com) by referencing the company ticker symbol. Conference calls are often impacted [...] [...continued]
Conference Calls Today: 9 A.M. EST - March 18, 2010 (FinancialWire) (Investrend Broadcast Syndicate) — Information for conference calls listed here can be accessed via the Conference Call Search Function at BestCalls (http://www.bestcalls.com) by referencing the company ticker symbol. Conference calls scheduled today at 9 a.m. include: New York & Company Inc. (NYSE: NWY), Casual Male Retail Group Inc. (NASDAQ: CMRG), CRA [...] [...continued]
Conference Calls Today: 10 A.M. EST - March 18, 2010 (FinancialWire) (Investrend Broadcast Syndicate) — Information for conference calls listed here can be accessed via the Conference Call Search Function at BestCalls (http://www.bestcalls.com) by referencing the company ticker symbol. Conference calls scheduled today at 10 a.m. include: Kid Brands Inc (NYSE: KID), Bioject Medical Technologies, (OTCBB: BJCT), Conference calls are often impacted by [...] [...continued]
Conference Calls Today: 11 A.M. EST - March 18, 2010 (FinancialWire) (Investrend Broadcast Syndicate) — Information for conference calls listed here can be accessed via the Conference Call Search Function at BestCalls (http://www.bestcalls.com) by referencing the company ticker symbol. Conference calls scheduled today at 11 a.m. include: Alcatel-Lucent ADR (NYSE: ALU), The Marcus Corporation (NYSE: MCS), Abraxas Petroleum Corp. (NASDAQ: AXAS), GameStop [...] [...continued]
Conference Calls Today: 2-5 P.M. EST - March 18, 2010 (FinancialWire) (Investrend Broadcast Syndicate) — Information for conference calls listed here can be accessed via the Conference Call Search Function at BestCalls (http://www.bestcalls.com) by referencing the company ticker symbol. Conference calls scheduled today at 2 to 5 p.m. include: Shoe Carnival Inc. (NASDAQ: SCVL), ADDUS HOMECARE CORP (NASDAQ: ADUS), MERRIMAN CURHAN FORD [...] [...continued]
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Filings & Reports

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Weatherford International 10-Q Filing - December 30, 2009 (FinancialWire) (Investrend Information Syndicate) — Weatherford International Ltd.’s (NYSE: WFT) recent third quarter 10-Q filing is now available for shareholders and potentially interested investors. Weatherford International Ltd. (http://www.weatherford.com) provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells to independent oil and natural gas [...] [...continued]
UQM Technologies 10-Q, 10-K Filings - December 30, 2009 (FinancialWire) (Investrend Information Syndicate) — UQM Technologies, Inc.’s (AMEX: UQM) recent 10-Q and second quarter 10-K filings are now available for shareholders and potentially interested investors. UQM Technologies, Inc. (http://www.uqm.com), together with its subsidiary UQM Power Products, Inc., engages in the research, development, and manufacture of permanent magnet electric motors and electronic controllers. [...] [...continued]
Panhandle Oil & Gas Annual Report - December 30, 2009 (FinancialWire) (Investrend Information Syndicate) — Panhandle Oil and Gas, Inc.’s (NYSE: PHX) recent annual report is now available for shareholders and potentially interested investors. Panhandle Oil and Gas, Inc. (http://www.panra.com) engages in the acquisition, management, and development of oil and gas properties. Its mineral properties and other oil and gas interests are located [...] [...continued]
PKC Group Annual Report - December 30, 2009 (FinancialWire) (Investrend Information Syndicate) — PKC Group Oyj’s (PLUS: PKC1V) recent annual report is now available for shareholders and potentially interested investors. PKC Group Oyj (http://www.pkcgroup.com) offers design and contract manufacturing services for wiring harnesses, cabling, and electronics primarily to the commercial vehicles, telecommunications, and electronics industry. The company operates through two segments, [...] [...continued]
Encore Acquisition 10-Q Filing - December 30, 2009 (FinancialWire) (Investrend Information Syndicate) — Encore Acquisition Company’s (NYSE: EAC) recent 10-Q filing is now available for shareholders and potentially interested investors. Encore Acquisition Company (http://www.encoreacq.com) engages in the acquisition and development of oil and natural gas reserves from onshore fields in the United States. It holds interests in various properties located in [...] [...continued]
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