6-23-09 End of the Day Update

First off I have decided not to produce an excel spreadsheet of my trades for 2009. Too much work. Yet I will somehow present my results graphically maybe with a line graph. Although I am still in the negative for the year I am slowly chipping away at the red. Patiently I am awaiting to get on the green side very soon and stay there for the rest of my life, lol.

Anyways nothing much happened today in the market. Not really surprising after the housing data was released. The news just was not enough to provide green shoot followers to have any momentum to push stocks higher today. Below is a graph of the daily chart of SPY.


Right after the housing data at 10am the SPY tumble below its daily vwap-pink line, which to me indicates a weakening in equities. However right around 888 SPY found support and pulled onto the vwap. The rest of the day the market try going higher but every time it failed and hit the vwap line. The SPY never gained any type of momentum to the upside even after yesterday's significant losses. This leads me to believe traders are uncertain about the market. With uncertainty comes lack of optimism and that makes the market sell off.

Tomorrow will be interesting to see if stocks can end positive. FOMC will post their results of their meeting around 2:15pm(Est). Anything can happen depending on what the FOMC says. Yet the trend seems to continue from last week which was a down week. So I would rather stay away from the market tomorrow until the FOMC results if all possible. It is too uncertain with the market being neutral today and usually any major news will result in major swings either up or down. In the long run I feel the market will go down due to the uncertainty.