A navigation system for trading the S&P500 index
Nice rally on Friday but the short signal remains in play until we close back above1989 at least.
Not likely today due to very negative futures. But can we hold at 1955-60 ?
Possible next level of support at 1935 and then 1908 ish.
No CommentsAs suspected yesterday's rally was a fake out.
Failure at the mid-point and penetration through the 55 ema and gann support line S2 add to the ugliness.
Of course we are now due a dead cat bounce and a rally back up to the 21 ema (1991) would provide excellent short entry.
No CommentsA nice relief rally off 1978, but not quite a Buy signal.
It does look like a replay of the previous bounce may occur – need to see follow through with conviction.
Note: similarity with March 27 low.
Dangerous markets ahead.
No CommentsBack at the lower bollingers and looking for a support… maybe.
Still expecting a bounce in the 1970 area to complete this manouver.
Potentially ugly megaphone pattern emerging.
Sell Short Signal imminent but wait for confirmation from the 8 /21 trigger and/or end of the current T structures.
No CommentsStopped out on S/T at 1997 and L/T at 1993 for small net loss of -3 points
The Blue T structure certainly does seem to be working out, in which case expect to see a few days of weakness, perhaps a test of the 55 at about 1975 and S2 in the low 1970s.
And then an attempt at a rally into October 1/2
Market starting to look a bit weaker now, but this ol lady aint done just yet
(maybe soon though)
No CommentsSo we got the expiration pop and fizzle, in line with the blue T structure and 70 day pulse.
Could be we have post expiration consolidation / pullback for a rally into the expected late september / early october peak.
What's to worry about?
No CommentsStarting to breach the bollinger to the upside, so we may well be on the way to 2050.
Watch to see if this strength is confirmed by the oscillators.
T theory oscillator at zero. Failure here could get ugly.
Market at nominal new highs and needs follow through now.
No CommentsThe Fed produced the Pop but the bollingers were not breached at 2010. Could test the low end again.
Even tighter now at 26 points, the last time they were this tight we saw 82 points down (Jan 23)
The T volume oscillator also did not get through zero today.
The blue split centred T structure points to a potential high today or tomorrow and the Red Oscillator T structure points to a potential high on monday.
70 day pulse from low expecting a high between now and monday.
Market seems dangerous
No CommentsI guess that leaks from the Fed meeting lifted the spirits of the mkt today and appear to have set up a Buy Signal.
As we have a tight squeeze in place now less than 30 pts – watch the action at either 2011 or 1980 for an indication of the move -> 2050 or 1950.
No CommentsSlightly high risk due to the contracted bollingers but the market is making a Buy Signal above 1994.
If the follow through holds then also an L/T Buy at 1998.
Looks like Fed magic again.
No Comments