Monday, August 06, 2007

Monday - Prosperity for God's People

Pre-Fed Rally
Last night we offered you our trade for today
Buy Friday's Closing Price - 1443
We were looking for a move at least to the mid-point of Friday's big red candle but the market was kind taking us all the way up to a high of 1473.50 on the day. Potential profit on today's trade - 30 points or a 300% return. With the Fed speaking tomorrow we will pass on any projections other than "the market could easily explode or implode". Be careful out there...
Pray Hard and Trade Safe!

Here is a little recap of today's action courtesy of Mike Reed
The market opened higher on Monday, and the early strengthwas sold. The SP futures turned down from the 20ema on the 5minute chart, and the selloff from 1448.75 sent the marketdown to break the Friday lows. Off the 1435.00 level, they snapped back to test the opening range, and rolled over once again. The selling took the SP futures to the 1432.50-1432.00 zone while the Nasdaq futures tested its 1923.50-1922.50 support zone, and with lows at 1432.25 and 1924.00, respectively, a decent bounce followed. They rallied to just under the 1452.00-1453.00 resistance, then fizzled and pulled back and tested the updated support zone at 1444.50-1444.00. The test passed, and they rallied to 1456.75 justbefore 1pm. The move fizzled, and left a reversal bar on the charts as the market pulled back again. The SP futures found support 10 points lower at the 1446.75 level, and the upside took hold once again. The SP futures rallied to the 1461.50-1462.25 area and pulled back 5 points, but the stair-step pattern higher continued as they just poked over the1472.50-1473.00 zone and then sold off into settlement. Well, that high closing Trin on Friday was prophetic, as we had a huge reflex rally on Monday. The Monday lows sure look important for the intermediate term. One of the best guides for the bull run has been seen at http://www.tradestalker.com/

Today's Scripture
“If you are willing and obedient, you will eat the best from the Land” (Isaiah 1:19, NIV)

And now a word from Joel
Is there something in your life that you know God is asking you to do, but you just haven’t done it yet? Maybe He’s asking you to let go of an addiction in your life. Or maybe a relationship that isn’t healthy for you. Maybe He’s asking you to make a commitment that you just haven’t gotten around to yet. You may not fully understand why, but know this: God is out for your good. He longs to give you the best of the Land. He longs to pour out His blessing upon you. But you have to do your part. You have to open your heart and choose to be willing and obedient. Ask the Lord today to give you an obedient heart. Ask Him to show you what adjustments to make in your life so that everything you do is pleasing to Him. As you choose to be obedient in every area of your life, you will experience God’s best and live the abundant life He’s promised you!

A Prayer for Today
Father, thank you for your promises and blessings today. I know that obedience opens the door for you to work in my life. I choose to obey you today and invite you to fill every area of my life. I honor you and give you glory in all I do.
In Jesus’ Name
Amen

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