S&P500 daily update

A dramatic gap down to the Sell Signal level and a short signal triggered in early trade.
A late morning bounce failed at lunchtime and selling resumed.

Potential support lies just below on a rising line from the Election low, but with such a strong sell signal we might expect to see some stabilisation before the next bullish move.

We should now consider the current T structures complete, although we may see some echoes from the secondary structure, and we should be looking for a new low to form and to set up the next large T structure.

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Market still struggling to hold onto gains above 2400, but finding some support at the long term rising line.

Still standing at the crossroads…

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

When the child was a child,
It was the time for these questions:
Why am I me, and why not you?
Why am I here, and why not there?
When did time begin, and where does space end?
Is life under the sun not just a dream?
Is what I see and hear and smell
not just an illusion of a world before the world?
Given the facts of evil and people.
does evil really exist?
How can it be that I, who I am,
didn’t exist before I came to be,
and that, someday, I, who I am,
will no longer be who I am?

Peter Handke, Songs of Childhood, from the film: 'Wings of Desire', Dir: Wim Wenders (1987)

Mercury – the god of finance – does his thing, and lifts the market back to all time highs, indicating that the T structures are very much alive and that Friday was most likely an echo low associated with the secondary DB (double bottom) structure.

Further strength is to be expected but be aware that this is potentially moving into the endgame of the red 'amalgamation' DB T structure, and that the endgame of a T structure is often a strong push up followed by a distinct lack of buying power.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market moves into a Warning phase but contained its drift lower, and just held above the Buy Signal line into the close.

T volume oscillator turns negative and the Osc oscillator looks close to a sell signal, indicative of the slowing momentum.

Starting to build a descending resistance line, and reinforcing the apparent double top, for now.

The prescence of a short term peak at the significant arm of the Amalgamation DB (Double Bottom) T structure leads me to believe that it is the Primary Structure and that the T structure drawn at the 13 April low is now secondary and projects echo lows rather than highs.

This means that we should see a significant lack of buying power at the end of the Amalgamation DB structure which only projects as far as 18 and 23 May. I believe that we will then be looking for a new low or series of lows to define a new T structure.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

A successful test of the previous 2 lows at 2381 and also the 21 ema, and the market recovers back within the S/T channel and holds onto the Buy Signal, for now. But some damage has been done.

The next negociation is the arm of the new T structure from the 16 March high to the 13 April low which projects to today.

Yesterday's break lower from the rising support line confirms the 09 May high in-line with the red Amalgamation T structure, and there is now a potential descending resistance line from that high.

We need to see a close above 2400 to change the outlook.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Deep Blue was a chess-playing computer developed by IBM. It is known for being the first computer chess-playing system to win both a chess game and a chess match against a reigning world champion under regular time controls.

Market continues to hold onto the rising line from the recent low, and the oscillators improve suggesting continued strength into the next projected peak.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market fails to deliver higher prices as it loses some power at the end arm of the amalgamation T structure (red).

The next peak – perhaps higher, perhaps lower, should coincide with the arm of the New T structure (gray) on 12 May.

Still holding onto support from the rising line from the recent low and above the Buy Signal line, but if we see some sustained selling here we will know that the red T structure is the more dominant one.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Flat lining as the VIX moves below 10.

End of the major arm of the 'amalgamation' T structure – which is centred inbetween the 2 most recent lows, and the previous drop in the market from 2400 projects to today. The last arm produced a spike higher followed by consolidation.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market resolves positively to the upside with a push up to a new all time closing high.

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

Market still trapped in a tight range at the highs, with another bounce off the rising support line.

Price holds up, but the T volume oscillator is moving lower.

Which way to go?

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.