A navigation system for trading the S&P500 index
First successful test of 1880 resistance and the Gann resistance line from 22 May peak. Looks strong and could grind slowly higher from here. Not even particularly 'overbought' here. Be alert for a sudden change.
No CommentsYesterday's pause for breath and then overnight strength in the Nikkei. 1880 may well be on for today…
No CommentsHaving taken out 1865 yeserday we are now within reach of 1880-1885 which takes us back up to a long term resistance angle projected from the May 22, 2013 peak. Can we go higher? Of course. If we can move up thru 1885 then 1940-50 becomes a potential target.
No CommentsSurvived the first major test of this recent bull move. Which way will we go – above 1867 or below 1835.
The oscillator has started to weaken, but we still have several lines of support before a short signal.
Starting to look a bit like May 22, 2013.
No CommentsWith the recover off the lows at 1835 and a regain of the 1840 level it dosn't look as though the 1845 stop loss level will be violated again before the close. Back in with a tight stop below todays' low.
No CommentsCover short term position
With a move of more than 5 points below 1845 it is pragmatic to close down the short-term S/T long position with a gain of 73 Points. I will hold the L/T position above 1815.
No CommentsWe start March in a great position, and a move above the important 1850 level. No reason to short this. We need to see a close above the grey channel or a weakening of the oscillator. The grind goes on.
Russia / Ukraine have put a negative bid on the opening – lets see if we can hold 1845 by the close. Futures have recovered a bit.
No CommentsDaily grind higher – next target 1880.
No Comments2 inside days – setting up a big move – up or down ?
No CommentsNothing much to say. Raise those stops a little. Looks to me like a grinding upward whilst re-charging for the bigger move.
No Comments